The crypto market, including top altcoins Tron (TRX) and Ethereum (ETH), has plunged significantly over the last 24 hours. The ETH price and TRX have fallen over 7% on the back of the market decline, which was driven by strong economic indicators reported by the US Fed.
On the flip side, Remittix (RTX) has continued to rise, crossing a new high at $0.0199. RTX has been one of the few bullish altcoins because of its innovative PayFi solution, which many financial experts believe could be the perfect bridge between cryptocurrencies and traditional finance.
Tron’s (TRX) Price Hits Major Roadblock, Losses Mount To 45%
The 7% price plunge of TRX over the last 24 hours has extended the losses of the altcoin to 45% from its ATH. According to data on CoinMarketCap, the Tron price has dropped to the $0.2400 range, despite trading as high as $0.44 in December.
The recent price drop comes amidst some very positive Tron news. According to a Token Terminal report, TRON led the blockchain industry in revenue generated in 2024. Tron edged out Ethereum with $2.19 billion compared to the latter’s $1.98 billion.
Despite the recent bearish price action from TRX, analysts believe it could return to the bullish part of the market soon. Evan Luthra has spotted a descending triangle pattern, while CW has shared a long-term prediction for Tron (TRX). Between now and 2030, CW’s $TRX chart suggests that the altcoin price could rise to $1.65~$2.2.
Ethereum (ETH) Drops To Key Support, Price Bounce Incoming?
The biggest altcoin, Ethereum (ETH) was not spared from the decline. As a result of the 7% price drop, the Ethereum price dropped to the $3,200 support for the first time in three weeks, CoinMarketCap’s data shows.
The ETH price reacted at the support, rising back above $3,300, which could be a positive sign. According to Andrew, $ETH is retesting the demand zone again.
Andrew explained that this means that top whales are accumulating Ethereum (ETH) at its current price range. What this means is that we could see a major price pump coming, with his price chart suggesting a rally to $4,100.
The famous crypto analyst, IamCryptoWolf, agrees with this, saying that there is no downside left for the Ethereum crypto. The analyst believes that the next bounce could take ETH to a new ATH above $5,000.
Remittix (RTX) Surges To $0.0193 As Momentum Continues To Rise
While the rest of the crypto market has been on a decline, Remittix (RTX) has been rising. The price of $RTX has pumped by more than 32% to reach its new ATH at $0.0199. Remittix has been able to continue building momentum because financial experts believe in the innovative solution it brings to the traditional financial market.
Platforms in the traditional financial market are expensive, take days, and have frustrated people and businesses. With Remittix’s revolutionary PayFi protocol, individuals and businesses can finally access cross-border payments more efficiently and at a flat 1% fee.
They can access over 50+ cryptocurrencies, which they can convert to over 30 different fiat currencies. What’s better, Remittix has integrated local banking networks to allow its users to send money directly into their bank accounts and receive it on the same day.
Remittix Pay API offers businesses a simple means to integrate cryptocurrency into their operations. With this range of features, Remittix is sure to become one of the giants of the $190 trillion cross-border payment markets.
Which is the Best Crypto To Buy Now? Remittix, Tron, or Ethereum
Remittix continues to defy the bearish market as it gains ground in the financial industry, while Tron (TRX) and Ethereum (ETH) dipped. Although TRX and Ethereum may recover in the coming weeks, Remittix has a higher upside potential. As the platform captures more ground in the $190 trillion market, analysts believe $RTX could pump to $1 before the end of June.
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The post Why Have Tron And Ethereum Dropped Over 7% In 24 hours Whilst Remittix Continues To Rise appeared first on Coinchapter.
