2. März 2024

Tron (TRX) Soars 7% as Bitcoin (BTC) Slips Below $27K

Summary:
• Bitcoin (BTC) attempted to break through the $27,000 mark but failed and fell below the $26,600 mark.
• The altcoins are also in the red today, with XRP, MATIC, SOL, LTC and others dropping over 2% of their value.
• Tron (TRX) is the only larger-cap cryptocurrency that has had a notable increase on a daily scale.

Bitcoin Slips Below $27K

After failing to decisively overcome $27,000 during the weekend, BTC slipped by almost $500 earlier today to chart a new multi-day low. As of now, bitcoin has bounced off but still trades in the red on a daily scale and sits beneath $27,000. Its market capitalization has declined to $520 billion once again. With the lack of substantial volatility, bitcoin’s dominance over the alternative coins has remained still at 46.4%.

Altcoin Market Overview

The altcoins are also in the red today with XRP losing over 2% of its value as well as MATIC , SOL , LTC and others.

Tron (TRX)

Tron is currently the only larger-cap cryptocurrency that has had a notable increase on a daily scale. It’s current market cap is around $20 Billion USD according to CoinMarketCap .

Market Capitalization

The total market capitalization for all cryptocurrencies is currently hovering around 1 trillion dollars. This includes both Bitcoin and Altcoin tokens combined together .

Conclusion

Overall , it seems that Bitcoin is struggling to find support above 27 thousand dollars while some altcoins have seen minor gains . However , it remains unclear if this will continue throughout 2021 or if there will be any major changes in price movements in either direction .