Bitcoin holds above US$30K; Tron’s TRX token bucks the trend

Bitcoin has held steady from yesterday after a horror week which saw the number one token drop 20 per cent since May 5.

Bitcoin is currently valued at US$30,816, which is an over 50 per cent fall from its all time high in November.

Ethereum rebounded 1.6 per cent from yesterday and is now valued at US$2,348.

Meanwhile, several of the top ten tokens saw slight gains from yesterday with Solana being the biggest gainer, claiming 3.17 per cent.

Also Read: Three crypto ETFs set to get listed in Australia this week

Altcoin News

As the rest of the market has been left reeling from Bitcoin’s sudden crash in this past week, one altcoin has managed to buck the trend. TRX, the native token of the Tron network.

The token was valued at 7.2 US cents on 5 May but has increased to its current value of 7.7 US cents.

In April, Tron announced plans for a new stablecoin similar to the Terra network. However, Tron has been using the Tether stablecoin, which has served it well. According to data from CoinMetrics, there is more Tether on the Tron network than there is on Ethereum.

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Data Source: CoinMarketCap.com, based on top 100 cryptos.

Note: Growth from the 24 hours prior to 12:30pm AEDT

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