Tron [TRX], the eighth largest coin has been proving its mettle by noting progress in the bear market. As of February 4, the coin surged by over 10% in the past hour when all other major coins were bearish. The progress of the coin was recorded in the report by LongHash, which observed the performance of the top 25 cryptocurrencies on the CoinMarketCap list.
This news was shared by a Twitter user, @mishalederman who said:
“#TRON is the only coin in the Top 25 that has recorded a positive performance in the 30-day Sharpe Ratio according to a study published by #blokchcain data firm @longhashdata”.
The report also quoted the falling price of Bitcoin [BTC] and mentioned the lowest price of the coin to be $3,400.82 and the highest being $3,586.75.
Tron has been seeing a sudden hike like today’s over the past few weeks. A similar hike was observed a week back when Tron pumped and took over the Stellar Lumens [XLM] and Litecoin [LTC] for a while to go as high as the sixth position on the CoinMarketCap list when the coin touched the $2 billion mark in terms of market cap. However, on January 28, the coin settled for the eighth position with a market cap of $1.929 billion. The reason was speculated by many users to be the BitTorrent token [BTT] launch.
At the time of press, Tron was valued at $0.02701 with a market cap of $1.8 billion. The coin registered a growth of 4.44% over the past 24 hours, while is seen falling in the seven-day period by 0.44%. The coin is seen standing firm on the bullish side of the market by registering a growth of 0.01% over the past hour, with a 24-hour trade volume of $321 million.
The coin was highly traded on OEX, which registered a volume of $58 million with the TRX/ETH pair. OEX was followed by UPbit, noting a volume of $20 billion with the TRX/KRW pair.