Tron Explodes 10% Daily, Bitcoin Stable at $27K (Weekend Watch)

2023-06-03 08:19:45

Bitcoin’s price has settled at around $27,000 after dipping below that level on a few occasions during the working week.

Most altcoins are also quiet today, aside from Tron, which has skyrocketed by double digits.

BTC Calm at $27K

Although Monday started on a highly positive note, after the US government’s debt ceiling deal and BTC skyrocketed to a two-week high at $28,500, the week didn’t turn out all that well for the asset.

It was rejected there, which brought it back down to $28,000 at first. However, a one-grand price dump followed, which pushed it south to $27,000. The following two days delivered a few more price dips, the second of which took BTC to a weekly low of $26,500 on Friday.

Nevertheless, BTC managed to bounce off rather rapidly and reclaimed $27,000 by the end of the day. It has remained relatively still since then and currently sits inches above that line.

As such, the cryptocurrency’s market capitalization has remained at the same level as yesterday – just over $525 billion. Its dominance over the alts, though, has taken another minor hit and is down under 46%.

BTCUSD. Source: TradingView## TRX Steals the Spotlight

The altcoins have also calmed on a 24-hour scale, similar to bitcoin. Ethereum went on a trip south of $1,900 during the week but has managed to reclaim that level after a few consecutive minor daily increases.

Ripple and Cardano have jumped by around 1-2% in the past 24 hours, while DOGE, SOL, LTC, and DOT are up by under 1%.

Tron, on the other hand, has taken the spotlight with a massive 10% daily surge. As a result, TRX trades at almost $0.085.

Lido DAO’s native token has also jumped by an impressive percentage – 5%. Consequently, LDO has neared $2.3.

The total crypto market cap has added around $10 billion in a day and is close to $1.150 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto

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