The second week of 2019 has found the digital asset of Tron (TRX) edging out Bitcoin SV (BSV) from the number 9 spot according to market capitalization as reported on Coinmarketcap.com. At the moment of writing this, TRX has a total market capitalization of $1,558,286,427 whereas BSV has a market cap of $1,552,070,232.
Only $6.216 Million in market cap separate the two digital assets. A screenshot of the current situation between the two digital assets can be found below.
Tron’s CEO, Justin Sun, had predicted the event via a tweet not more than 8 hour ago. The full tweet can be found below.
— Justin Sun (@justinsuntron) January 7, 2019
Why Tron Has the Momentum
Two days ago, Ethereum World News had highlighted that TRX was making impressive gains in the crypto markets due to several positive fundamental factors. At the time of the first report, TRX was valued at $0.023. The same digital asset is now valued at $0.023383 having risen by 2.09% in the last 24 hours.
The following factors have been highlighted as being the reasons why TRX is doing well in the markets.
- The NiTRON event in San Francisco from the 17th to the 18th of January. The summit is meant to break down barriers in the blockchain industry by hosting crypto and blockchain enthusiasts in an environment where they can share ideas with guest speakers such as Kobe Bryant and Justin Sun
- The BitTorrent token of BTT was launched on the 3rd of this month and is slated as being one of the major pieces of Project Atlas that aims at furthering the decentralization of the Web. The Tron foundation acquired BitTorrent to bring back the power of the internet to the people. BTT will also be one of the first projects to be available on the Binance Launchpad that aims at raising funds for exceptional blockchain startups
- The Tron project has accomplished a lot of developments in the past few months starting with over 50 DApps that are now currently on the network. Some of the DApps on the Tron network have migrated from the Ethereum Network due to Tron’s fast speed and zero transaction fees for some of its smart contract operations
What are your thoughts of Tron (TRX) edging out Bitcoin SV (BSV) from the number 9 spot according to market capitalization? Is this a sign of greater things to come for Tron? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.