While the Tron project continues to deliver on its roadmap milestones, its associated currency is still experiencing major bearish pressure forcing it to close below the $0.02 mark late yesterday afternoon.
At presstime, the world’s 12th largest cryptocurrency by total market capitalization is trading at $0.019— a relative price point that has remained somewhat constant over the course of the past two days. However, when taking into consideration the currency’s performance over the past week, the value of TRX has dipped by nearly 24%.
XRP’s Woes Continue As Well
Tron is not the only digital currency facing the wrath of a bearish market at the moment. XRP, the world’s 3rd most sought after crypto asset after Bitcoin and Ethereum, is also on a steady decline— losing over 3% of its value against the US dollar daily since September 5. Currently, the digital asset is trading at a price point of $0.267.
The economic downturn being showcased by XRP seems to have become the norm for most of the top 20 altcoins in the market, primarily due to the prevalence of a lot of FUD circulating within the interwebs.
Tron Continues To Deliver, All Set To Launch On 5 New Exchanges
Crypto Celebrity and Founder of the TRON project, Justin Sun has has been on a tear over the past week, being quick to note that TRX has been on point with its milestone targets, especially when compared to its rival platform, EOS— which is widely considered to be an older, more established blockchain ecosystem.
Via a tweet earlier this week, Sun noted that:
“TRON MainNet accounts have Surpassed EOS. 12:00pm, September 4, 2018, according to http://trxplorer.io and http://eosflare.io , TRON MainNet: 301604 V.S. EOS: 299743. The TRON Network continues to thrive and gains more recognition 71 days post TRON MainNet launch.”
It is also worth mentioning that Sun’s social media following has now surpassed that of established crypto projects such as Tron, Bitcoin Cash, Litecoin, Monero, Cardano, Neo and Dash.
Lastly, TRX is also now listed on five additional cryptocurrency exchanges including big names like KuCoin, Exrates and Abra. The other exchanges where the altcoin has been listed includes UK-based CoinExMarket and newly launched trading platform, ChangeHero.
Ripple Settles Its Ongoing Lawsuit Against R3
Ripple Labs has been at the receiving end of numerous lawsuits over the course of the past year or so. However, just yesterday, the firm released an official statement stating it had settled all of its existing legal issues with R3 HoldCo LLC and R3 LLC “in a completely amicable manner”.
Exact details pertaining to the settlement have not been disclosed by “either of the involved parties”.
For those unaware of Ripple’s ongoing legal troubles, the company has been marred by a slew of lawsuits that date back to as far as September 2017. Claimants have time and again questioned the status of XRP as a security as well as questioned the currency’s true level of decentralization.
While the current market conditions continue to push crypto investors to their limits, Hodlers and long-term enthusiasts are confident that TRX and XRP will bounce back after this latest barrage of economic pressure subsides.