TRON price (TRX/USD) surges on Monday despite downbeat market

The TRON price (TRX/USD) has seen solid gains on Monday, in contrast to the wider digital currency market.

Like many of its cryptocurrency rivals, TRON suffered a significant drop on Sunday afternoon, which negated all of the progress the digital coin had made during the preceding session. The coin dropped to a low of $0.0233, which was its lowest price level since January 14. TRX managed to rally in the final hours of the session but it still finished the day at $0.0238, below its opening price of $0.0245

However, despite the market’s continued struggle’s on Monday, TRON managed to stop the bleeding in the early hours of today’s session and then launched a strong rally toward the $0.025 mark. The token rose to as high as $0.0254 in the late morning session. While the coin has pulled back to lower levels in subsequent trading, it is still trading well above its Sunday closing level. At the time of writing, the TRON price was hovering just above the $0.025 level, according to data from digital currency tracker Coinmarketcap.

This month has so far been very positive for TRON, which started the New Year at $0.0188. The coin’s price has been propped up by the recent news that BitTorrent, the file-sharing company that was acquired by Tron last year, will launch its own crypto token, based on the TRON protocol. The BitTorrent Token (BTT), which is aimed at incentivising file sharing on the BitTorrent network, will be integrated into the µTorrent Windows client, starting later this year.

In today’s trading, the TRON price stood at $0.0251, as of 17:25 GMT. The digital coin has gained just over 6% in the past 24 hours, which makes it by far the best performer in the crypto top 10. Its total market cap currently stands at $1.67 billion.