Tron (TRX), Litecoin (LTC) & Populous (PPT): Bullish momentum gaining steam
In the last few weeks, Tron TRX has been awash with positive news, especially after the test net release. The platform has also announced that the main net will be launched earlier than schedule, an announcement that pushed up investor optimism. This coupled with the increased momentum in the entire crypto market has created a bullish atmosphere around Tron. At the moment, Tron is up by about 3%, which is the average gain of the entire market in the last 24 hours. That’s an indicator that Tron related news have already been factored into the market, and that the price is currently being driven by the entire market momentum.
The online market sentiment around Tron TRX paints a similar picture. Out of 26 mentions on major online forums, 84% of them are positive, indicating a strong interest in Tron at the moment. This sentiment is in line with the largely positive mood in the market at the moment.
Litecoin LTC has made some major gains today, standing at over 8% in intra-day trading. This is driven by the bullish momentum that Bitcoin has given to the entire crypto market in the last 72 hours. At the moment, Bitcoin seems to be gaining momentum above the $8000, and it’s pulling the rest of the market with it. Litecoin has already broken above the psychological $120 price level and volumes are on the rise. That’s an indication that investors are bullish, and expect Litecoin to continue making gains in the market. One of the indicators to this is the trading volumes. In the last 24 hours, Litecoin trading volumes have edged up from around $303 million to the current volumes of over $466 million.
So what are people saying about Litecoin online? In the last 24 hours, Litecoin has been mentioned around 20 times on different major platforms. Out of these, 55% of them are positive, painting a mixed picture on investor expectations. This could be an indication that a sizeable number of people are holding back on their Litecoin investments, waiting to see if the current trend will sustain. If Litecoin LTC maintains above $120 in the next few days, then the sentiment will catch up with the current price action.
Populous coin (PPT)
This is probably one of the biggest gainers in the day, pushing up by over 50% in intra-day trading. This jump is a combination of two factors. The first one is the announcement that the developer team is way ahead of schedule in the developments. The second one is the current positive sentiment in the market at the moment. Bitcoin is already showing signs of sustaining the current rally above $8000, and it’s pulling the entire market with it. In essence, positive news coupled with this bullish momentum in the market have given PPT a much-needed boost to grow pump.
We can conclude that as long as the current momentum sustains, Litecoin LTC, Tron TRX and Populous PPT will continue to edge higher.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.