Tron (TRX) Soars 8% Daily While Bitcoin Flatlines at $30K (Market Watch)

23 July 2023

in XDC

Reading Time: 3 mins read

The past 24 hours in the cryptocurrency markets saw the total capitalization increase by some $6 billion. In other words, not much happened. Some of the major coins are charting ever-so-slight gains, but in general, the trend remains largely rangebound.

Bitcoin remains indecisive at $30K and unable to escape that range, but let’s see how it all fared.

BTC Price Flat at $30K

As you can clearly see in the chart below, the past 24 hours didn’t provide anything of substance when it comes to Bitcoin’s price in particular.

The cryptocurrency continues to flirt with $30K, but neither side can manage to take control. The bulls have failed to recapture the level decisively, while the sellers are also unable to push the price toward another support zone.

Source: TradingView

To this, the altcoins have also failed to capitalize on BTC’s stagnation. This is clearly reflected in Bitcoin’s dominance – the metric that tracks its share relative to that of the rest of the market. It’s also remained flat at 46.6% in the past 24 hours.

TRON (TRX) Soars 8%, But That’s It

The heatmap below paints a green picture for the past day, but most of the gains are rather inconsiderable. For instance, BNB, ADA, ETH, UNI, XMR, LINK, and many other cryptocurrencies failed to increase by even 1%.

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The most obvious exception to this is TRON’s TRX. The altcoin pumped 8% on the day, and it’s one of the best performers from the top 100 coins by means of total market capitalization.

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Source: Quantify Crypto

XDC Network (XDC) exploded by some 15.5% on the day and is the cryptocurrency that gained the most over the last 24 hours. It’s followed by Casper Network’s CSPR and, you guessed it, TRX.

On the other hand, we have FLEX Coin (FLEX), which is down 14.6%. The rest of the market remains largely flat.

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Cryptocurrency charts by TradingView.

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