A recent report by Huobi Global, which leverages big data to gather insights on the cryptocurrency market, showed that TRX’s trading volume bumped 17% while XRP trading dropped 48%, the most of any major coin. This divergence in trading volume corresponded to the price of TRX gaining 17% and XRP losing 13%.
— Huobi Global (@HuobiGlobal) October 22, 2018
The report also indicates that the correlations between the major cryptocurrencies were significantly low this past week. For instance, XRP and TRX had a correlation coefficient of -0.81 while TRX and ETH had a correlation coefficient of -0.80.[Read: Canadian Crypto Exchange Bitvo Adds Ethereum Classic and XRP]
TRON’s growth in price and volume is likely due to the series of major advancements the project made over the previous week, including briefly passing Ethereum in total daily transactions.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.