The markets are in the green once again as the East Coast of America wakes up this Monday. Bitcoin (BTC) is trading at $9,283 and looks like staying above the $9,200 level through the week. Ethereum (ETH) has gained 2% in 24 hours and is currently trading at $687.
But two coins have stolen the show at the moment of writing this. Both Tron (TRX) and Neo (NEO) have suddenly surged by double digits, and in the process, edged out IOTA (MIOTA) from the top ten list of coins and tokens according to coinmarketcap.com.
Tron (TRX) is currently trading at $0.936 and shows no signs of stopping until it hits the 10 cent barrier. It is currently doing close to 12% in gains in 24 hours and at the moment of writing this. Neo (NEO) on the other hand is valued at $88.08 and doing 10.36% in gains in the last 24 hours.
One explanation could be that Tron has 3 crucial dates heading into Quarter 2 of this year and traders do not want to be left out of the action. The first date is the launch of the MianNet on the 31st of May. The second is the token migration on the 21st of June and the third is the Super Representative elections that are being held on the 26th of June.
With respect to NEO, this coin has always had moments of surges in the market with its highest coming on the 16th of January when it was valued at $191. If there is another reason for the surge in its value, it will be revealed as the day goes by and Ethereum World News will be there to report it to you.
One thing to note, is that both Tron (TRX) and Neo (NEO) are prominent cryptocurrencies in their country of inception. Both are projects that stem from the technology powerhouse of China.
Despite the Chinese government having banned cryptocurrencies and trading, well known Chinese cryptocurrency exchanges such as OKEX and Huobi have continued to thrive online. They managed to relocated to Hong Kong before regulation and crackdowns by the Chinese government had closed in on them and stopped their operations completely.
What we all know when a government bans something, it makes the citizens curious as to why it is being banned. What then happens is that the countrymen and women start discussing the ban and how to get a hold of the banned product or service. This has happened so many times in the globe with substances such as marijuana that is now receiving acceptance in the United States after law enforcement realised they were fighting a losing battle.
With time, the Chinese government might cave in due to public outcry but in a manner where they will be the one regulating or offering cryptocurrency exchange services. Which is still okay from the point of view of a Chinese citizen.
One thing is for sure, cryptocurrencies are here to stay! To The Moon!