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Breaking News / Cryptocoins

Tron, Late To The Party As Good Form Fails To Continue

When all was going wrong in the world of cryptocurrency, we brought Tron to your attention. After it was introduced just last year, it saw a huge rise in value of 12,600% in just one month. Just last week, it shot up in value again, this time by 30%. Before this, the cryptocurrency had been steadily trading at $0.02. It seems this peak in value was short lived though, and unfortunately it tells a different story this week, after declining in value once again.

Today, it is up very slightly from its previous price, but has dropped from the high last week, trading at $0.03. The volatile cryptocurrency has been fluctuating all week, but has steadily been declining again.

So, why is the price declining, and was it that Tron was just a little late to the party? Well, one of the biggest problems with all cryptocurrencies is the fact that the price is just as volatile. Being a new cryptocurrency, it is likely that the novelty and the hype that surrounded it could have caused the leap in value, and as this has settled down now, it is only natural that the value could drop.

Tron is not the only cryptocurrency that is seeing a loss this week though, and in actual fact, the fact that it had a leap in value last week actually puts it above some of the more popular cryptocurrencies. There are many reasons as to why cryptocurrencies are declining, from the banning of adverts across most of the main social media platforms, and the increased threat of tighter regulation, is reducing the number that cryptocurrencies are available to. However, good things have been predicted for cryptocurrencies this year on the whole, so things can soon improve again for Tron.

Featured Image Source: Pixabay

 

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Frances is the head writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.