Tron [TRX]’s recent upsurge has created quite the panic in the Monero [XMR] camp with various fans and enthusiasts making a beeline for the front seats to the showdown. Monero, which has been plagued with various scams and attacks, have been losing followers due to the widespread notions of unreliability and reduced security measures.
Tron, on the other hand, has been enjoying a stellar rise on the back of Justin Sun’s repeated developmental announcements and has the holders of TRX all riled up to enjoy the takeover show. With the market acting bearish for the past week, Tron has seen a significant rise of 24%, which has shattered market expectations and created a sense of security for the Justing Sun founded Token.
At press time, TRX was trading at $0.0272 with a market cap of $1.79 billion. The price has soared over 12% with a 24-hour trading volume of $357.8 million. In the 7-day scenario, TRX opened at $0.0221 with a market cap of $1.45 billion. During the week, the first upturn attempted by TRX was on 4th October, when the price took a flight to trade at $0.0232.
Monero’s promise to rise to the top of the cryptocurrency pinnacle was pulled back with reports of multiple hackers using its loopholes to infringe upon several users and steal their data. The cryptocurrency also got a massive hit when Monero wallets were delisted on several exchanges.
Cryptopia, an exchange platform officially stated on their website that the XMR wallet was placed in maintenance from 24th September. They further added that the actions were taken as per the request of the Coin Developer. Bittrex had also reported the same and stated that they are still waiting for more information from the coin development team.
With both cryptocurrencies going head to head on the charts, Monero’s number 10 spot seems to be nearer than ever for Tron and Justin Sun’s team to make their own.