The crypto market is bleeding red this morning. Most of the currencies have a negative growth rate. The sad part, however, is the rate of the downtrend. Many of the currencies have down surge rates as high as 6% or more. The last 24 hours have been bad news for the crypto market. One such coin is TRON (TRX).
TRON is currently trading at $0.017200 USD with an 8.17% negative surge. The coin is currently at 11th position as per Coinmarketcap data with a 24hr volume of $1,010,131,015. Moreover, the TRX/BTC price has only slid down by 4%.
TRX Price Analysis:
Looking at the November 2019 price chart in Coinmarketcap, TRON prices have never fallen below $0.0185 against USD. The TRON price shows a great lot of swing but it has maintained the price above a certain level. However, the wee hours of Nov 19 saw a 9% downswing. The TRX/USD price had reached $0.0172 USD. The downswing follows since then.
This down surge rate is a matter of concern as the first half of November was quite interesting for TRX. TRON got onto the Samsung blockchain, TRX is available on Poloniex and McAfeeDEX, etc. As a result, the TRON price was experiencing steady growth until yesterday.
TRX price gain has decreased as Justin Sun’s American Bank account got seized. Earlier this week, Bank of America planned to close a few of the high profile blockchain-related accounts, Justin is one of them. The TRON founder came onto twitter to explain why his account how he received a letter for account closure. As the news spread, the TRX/USD price saw a huge slide. Following the current price, TRX is in danger of dropping to $0.0120.