Throughout this weekend, China’s crypto assets were dominating the crypto market at about twenty-five percent. Although the rally was led by Bitcoin, the Chinese cryptocurrency was on the rise, and Tron is on the list too.
Tron TRX price and Chinese crypto rankings
Ranking of the Chinese crypto assets has just been released, and the China-based project is on the lead. According to the fourteenth listing update from Blockchain Research Institute CCID, EOS has been on top, whilst Ethereum has been on a spot below than it previously was on.
🇨🇳 News out of #China continues…
The Ministry of Industry and Information Technology's CCID has released v14 of #crypto project rankings.
— Nugget's News (@NuggetsNewsAU) October 28, 2019
The upward movement of the Tron TRX price has enabled its price to gain better stability. Right now, TRX is the crypto market’s leading altcoin with an increase of about 30 percent to reach $0.021. As per the BTC terms, Ethereum’s competitor has made about a twenty-two percent increase to reach two-hundred and twenty-two satoshis.
The move allowed Tron TRX to claim the spot of top ten by Stellar’s flipping, as the market capitalization of Stellar is nearing a little over one billion dollars ($1.4B). There is also a surge in the daily volume and currently, it is almost two billion dollars ($2B). Luke Martin, crypto analyst, and crypto trader observed this breakout.
Technical breakout for $TRX today.
— Luke Martin (@VentureCoinist) October 28, 2019
Recently, a lot of movement of Tether has been observed, as the chain swaps have been shifting to TRC-20 standard.
— TRON Foundation (@Tronfoundation) October 23, 2019
Exchanges such as Huobi Global, Bitfinex and Poloniex are now supporting the Tron protocol. As per the Tron Foundation, around three hundred million dollar Tether issued TRC-20 in circulation.