Cryptocurrency market is frozen; only TRX stays alive

The market is hibernating in tight ranges.
TRON is the growth leader on Tuesday.

Tanya Abrosimova Independent Analyst

Cryptocurrency market is rangebound early on Tuesday. Bitcoin and all major altcoins have stuck in tight ranges after the Sunday collapse. The total capitalization of all digital assets in circulation settled marginally below $120B, down from $124B on the weekend.

Bitcoin is changing hands at $3,535, unchanged both on a day-over-day basis and since the beginning of Tuesday trading. Moreover, the first digital coin is locked in a tight range ever since it broke down on Sunday. A sustainable move below $3,600 handle is still regarded as a prerequisite for an extended recovery.

Ripple’s XRP has settled at $0.3200 handle. Apparently, traders cannot decide where from here. The second largest coin has been rangebound for the last couple of days, moving in sync with the broader market.

Ethereum dropped below $118.00, though the downside momentum has faded away. At the time of writing, ETH/ISD is trading at $117.80, down nearly 1% on a day-over-day basis. The coin has a market value of $12.3B and an average daily trading volume of $2.3B.

TRON (TRX) is the growth leader today. The coin jumped to $0.0260, thus gaining is nearly 10% in recent 24 hours. TRON has been enjoying the support from positive fundamentals recently. According to Justin Sun, a creator of Tron Foundation, the blockchain will have 2,000 dApps deployed on it by the end of 2019. It looks like the market sees the same way.

Author

Tanya Abrosimova

Independent Analyst

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