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Tron [TRX] and Cardano [ADA] join the bull party; significant growth sparks market enthusiasm

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The cryptocurrency markets today, 15th October, witnessed a green spread with almost all cryptocurrencies shooting up on the price charts. Popular cryptocurrencies like Bitcoin [BTC], Tron [TRX] and Cardano [ADA] all basked in the bull’s light, much to the happiness of investors and enthusiasts alike.

At the time of writing, Tron [TRX] was rising at a rate of 2.57% with a total market cap of $1.645 billion. The cryptocurrency was trading for $0.025 with a 24-hour market volume of $196.314 million. The majority of Tron’s trade volume was conducted on Bit-Z which amounted to $21.016 million. Bit-Z was closely followed by Binance with a hold of $20.879 million.

Tron 24-hour cryptocurrency charts | Source: CoinMarketCap

Tron 24-hour cryptocurrency charts | Source: CoinMarketCap

The Tron [TRX] Foundation recently released news of a new suite for developers to use on the Tron blockchain. This comes after news of the launch of the Tron Virtual Machine [TVM], a Turing-complete Virtual Machine for the development of dApps on the Tron blockchain.

Another major cryptocurrency that was on the upsurge was Cardano [ADA which was on 3.19% growth trajectory. ADA was trading at $0.075 with a total market cap of $1.959 billion. The cryptocurrency’s 24-hour market volume amounted to $58.951 million, a majority of which was held by Binance with a total trade of $18.532 million. Binance was closely followed by Upbit with a grasp of $11.578 million of the total trade.

Cardano 24 hour chart | Source: CoinMarketCap

Cardano 24 hour chart | Source: CoinMarketCap

Cardano also made news recently in October 2o18 when Charles Hoskinson, the Founder of Cardano’s parent company Input Output Hong Kong, released a video update where he informed the community about IOHK departing from the Cardano Foundation. He also conveyed that IOHK and Emurgo, the venture capital arm for Cardano are together going to carry the ecosystem forward, without Cardano Foundation. He had stated:

…things like procuring the trademarks, things like regulatory outreach, for example, a large percentage of the initial ADA distribution was in Japan and getting listed on the Japanese exchange seems to require a great degree of regulatory lobbying and pushing so this was the duty of the Cardano foundation amongst others.