TRON (TRX) spiked around 40% after the hard drop that the crypto market experienced during November. TRX moved from $0.0115 to $0.0167 in just a few days, according to CoinMarketCap. During the same period of time, the whole crypto market grew around 17%.
TRON Recovers After Plummeting
TRON was able to recover part of the value that it lost during the second part of November. Since Bitcoin Cash (BCH) started its difficult and controversial network upgrade, the crypto market plummetted. TRX lost around 50% of its value from November 14 to November 25.
During the same time, Bitcoin lost around 40% of its value. However, the market was able to recover during the last days, and TRON was one of the best performing cryptos in the market.
But what is behind TRON’s fast recovery? There were many interesting things around TRON during the last days. For example, Justin Sun, the creator of the TRON Foundation tweeted that there is a very promising number of decentralized applications launching on TRON’s blockchain.
At the same time, TRON has been selected as one of the first projects to receive the Binance Info Gold Label. The Binance INfo Gold Label is a project carried out by the largest exchange in the world and that has the intention to provide useful information about recognized blockchain companies.
#TRON has become one of the first projects to be included in the Binance Info Gold Label Project, which will consist of 100 other companies. Thanks for the report made by @bloktcrypto. #TRX $TRX https://t.co/zCjoR81YDr pic.twitter.com/l4ifV7j81G
— Justin Sun (@justinsuntron) November 29, 2018
The information was released by the TRON Foundation on November 26, just before the recovery of the market.
The blog post uploaded by the TRON Foundation reads as follows:
“As an open information platform, Binance Info encourages all users to participate in maintaining accurate information on crypto projects. By creating a token profile, editing missing or incorrect project information, contributing news sources, and more, users can help the community better understand coins and tokens.”
At the time of writing, TRON is being traded as the 11th largest virtual currency, surpassing Monero (XMR). Monero is one of the largest and most popular virtual currencies in the market. XMR is also known as one of the best privacy coins in the space.
Each TRX can be purchased for $0.015872 and it has a market capitalization of $1.05 billion. If the market cap increases around 4%, Tron could enter the top 10.
Want to learn more about TRON? Read about how Tron’s transactions have passed other major coins in our in-depth article. You can also read about how Tron’s price was boosted earlier this year with the rumor of a big partnership.