China’s state-backed tech working group has released its fourteenth Crypto Ranking report, with Bitcoin staying at # 11, Tron at # 2, and EOS (EOS) at # 1
It seems that Tron (TRX) and EOS became China’s favorite kids, at least if the newly released CCID Crypto Ranking is to be believed. The Chinese Ministry of Industry has always confused its selection of criteria and has brought EOS to the top because of its innovation.
But let’s start with Tron. The Chinese blockchain platform, previously closely scrutinized by Beijing, was pleased last week when Chinese President Xi Jinping gave a speech that almost celebrated blockchain. China, Xi said, will become the world’s leading proponent of the technology and try to implement it across the economy.
During the 24 hours, TRX / USD is up nearly 25% and at the time of writing was still up 6.24% to $ 0.02.
TRON has proven to be one of the most actively growing blockchains with 3.9 million accounts. The network offers high speed and an increasing number of distributed apps and new USDT imprints in the TRON network are driving the positions of the project forward.
While this new ranking may be a result of Xi’s speech, it is also possible that it has something to do with the recent announcement by its CEO Justin Sun that Tron is allegedly partnering with a company valued at approximately $ 100 billion. He went on to invite guesswork.
#TRON will partner with a mega-corporation for $ 100 billion next week. Not only will $ TRX benefit from this, but all TRC10 and 20 tokens including $ BTT & $ WIN etc. #TRON dapps and tokens will be distributed to billions of customers. TBA. Guess what?
– Justin Sun (@justinsuntron) October 25, 2019
Anyway, the truth is that Tron is one of the largest cryptocurrencies in the country by market cap and could benefit the most from China’s newfound interest in space.
#TRON reaches 2nd place in China’s CCID 14th world ranking of blockchains – 1st place among Chinese blockchains
Since President Xi has urged China to accelerate #blockchain investment and development, keep in mind that CCID reports directly to the Ministry of Industry and Information. Pic.twitter.com/QcrFE0hq0z
– Misha Lederman (@mishalederman) October 28, 2019
The project has few problems, mostly with its credibility. The market price rose to a record high of more than $ 0.15 during the 2017 altcoin rally. At one point there were rumors that TRX would hit $ 1 and additional FOMO purchases were made. Since then, however, the market price has continued to fall, hitting lows of around $ 0.012.
The problems actually started when China banned domestic ICOs. Some buyers of Crypto-Exchange Binance were then given the opportunity to even cancel their purchase of TRX provisional tokens if they wanted to.
However, Tron was not discouraged and decided to buy BitTorrent in 2018. The project later carried out a token sale through Binance for BitTorrent Token (BTT) and continues to aim to grow its wealth through a planned Airdrop program.
However, let’s get back to the list of CCID crypto rankings created. Bitcoin (BTC) ranks 11th, Tron second, and the winner is – EOS retains the top spot at the end of September 2019.
Compared to the last ranking published in July, Bitcoin was in the same position, while Altcoin has thrown Tron Ether (ETH) from second place. XRP has risen from 30th to 20th place.
Qtum (QTUM) rose from 18th to 8th, Lisk (LSK) from 14th to 7th and Dash (DASH) from 21st to 17th. Just as a reminder: As early as May 2018, Ether was at the top of the first crypto rating report.
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Experienced creative professional with a focus on financial and political analysis, editing daily newspapers and news sites, economic and political journalism, consulting, PR and marketing. Teuta’s passion is to create new opportunities and bring people together.
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