Despite its falling market share and market dominance over the past few months, Bitcoin continues to exert a lot of influence on the altcoin market. However, while BTC does indeed share high correlation stats with many altcoins, its influence isn’t uniform across the board. The same was evidenced when Tron, Basic Attention Token, and Dogecoin’s price charts for the past week were observed.
Once one of the market’s top-10 cryptocurrencies, Tron [TRX] has since fallen off the crypt0-ladder, with TRX positioned at 16th, at press time. Despite its traditional correlation with Bitcoin, TRX’s price movements have been unusual. Consider this – when the rest of the crypto-market fell incredibly over 1-2 September, TRX surged to new heights. Further, while the crypto did later note corrections on the charts, at the time of writing, TRX was still trading at a price well above its July and August 2020-levels.
Contrary to the rest of the market, Bitcoin’s recent surge over $11k and its subsequent consolidation didn’t seem to have much of an effect on TRX’s market, with the crypto continuing to