Altcoins continued their upward rise even though Ripple witnessed a decline this morning after the Coinbase news broke. TRON (TRX), the cryptocurrency designed for an open-source entertainment platform which brings together content creators and their audiences, recorded the biggest gains, leaping into the 9th spot in terms of market cap, pushing Dash to the 11th place. TRON recorded a surge of over 150% in less than 24 hours. Its total market cap also went up to $13.2 billion. This was a massive increase to the $2.94 billion it had on the first day of the year. But at last check, TRON was trading at $0.18, giving back from its gains made earlier.
The founder of TRON Justin Sun had tweeted that the foundation will look to make certain partners this year. Sun who is considered a protégé of the founder of Alibaba Group Holdings Inc. Jack Ma is expected to announce a partnership with the e-commerce giants as the year progresses.
Ethereum (ETH) recorded another big win. The digital currency saw its coin ether surpass the $1,000 mark for the first time after the news emerged that it was increasing its scalability research and blockchain programs. Its main utility is in its smart contracts, with the research expected to aid increase the number of transactions in its network with less friction. Its market cap also reached the $100 billion mark, joining bitcoin and Ripple (XRP) as the only currencies to cross that mark.
Even with the new record, Ethereum (ETH) couldn’t dislodge Ripple (XRP) from the second spot and still occupies the third place. Crypto traders were still investing heavily in Ripple (XRP), a payment network that also serves as a cryptocurrency. Ripple experienced a decline after Coinbase announced that it wasn’t going to add any coins on its platform at the moment.
In a blog post, the exchange platform added that it is going to follow the digital asset framework it released a few months ago that indicated the criteria used in adding new digital assets to its platforms. They further added that additions made on their platforms would be announced via their blog post or other official channels.
Even though it is not in the top ten list, one of the latest digital currency RaiBlocks (XRB) experienced enormous growth recently. The digital currency will soon be integrated at Binance and Kucoin, implying that new investors should purchase RaiBlocks before it hits the big time.