Tron Price Turns Slightly Bearish Following OKEx C2C Listing Announcement

Earlier today, it seemed as if some of the top markets would suddenly start to turn bearish again. So far the damage has been fairly limited in that regard. Even so, the Tron price has dipped in the red ever so slightly, although there doesn’t appear to be a genuine reason for this sudden change. For the time being, it remains to be seen how long this uneasy situation will remain in place.

Tron Price Momentum Sours Suddenly

Although Bitcoin is not exactly in a strong position right now, the world’s leading cryptocurrency is not subjected to a ton of bearish market pressure either. This should, in theory, ensure most of the top alternative markets remain in the green as well. While that is partially the case, markets such as Tron are already dipping in the red. This is primarily due to TRX/BTC losses being recorded in the past few hours.

Over the past 24 hours, the balance for Tron is not too great. A 1.6% drop in USD value and a 1.8% decline over Bitcoin drive the Tron price down to $0.023252, or 594 Satoshi. Losing control of the 600 Satoshi level will undoubtedly make some traders nervous, albeit it seems this will only be a temporary setback.

There are some interesting Tron-related developments to take note of. First of all, TRX will be listed on the OKEx C2C platform in the near future. While OKEx is no longer considered to be one of the biggest exchanges, it can still offer sufficient liquidity. TRX Was previously available for spot and derivatives trading, but it will now come to the C2C market as well.

Secondly, the Tron Foundation has also confirmed Justin Sun will be attending the Token 20149 event in Hong Kong. While it remains to be seen if any surprise announcements can be expected, getting the word out about this project will always attract some attention. Even though Tron has become a recognizable brand, there is always more work to do in the marketing and educational department.

Last but not least, a new dApp is making the rounds, although Tron users should be wary of it. Known as Mega Chicken, this dApp is a never-ending investment game. It seems most community members expect to lose money through this particular project, thus it would be best for users to conduct their own thorough research first and foremost. Not every dApp is worth looking into, for obvious reasons.

All things considered, the current TRX price momentum doesn’t appear to make any sense. Nothing negative has happened, yet some investors are seemingly cashing out in favor of Bitcoin. With the weekend just around the corner, this bearish trend can easily be extended unless something changes overnight. For now, no steeper losses are to be expected, although these volatile markets are always unpredictable.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

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