Tronclassic [TRXC] sees massive 8,449% surge despite bear’s looming presence

Tronclassic [TRXC], an ERC-20 token, saw a gargantuan 8,449% hike in the past seven days, according to CoinMarketCap. The coin has outstripped all the top coins in the market, including Bitcoin [BTC], Ethereum [ETH] and XRP, still stuck in the bear’s kingdom.

The market speculates that this could be a classic pump and dump scheme taking place, seen days after Ravencoin pumped 61,929%.

The price of the coin before the boom was a mere $0.00000044 and has now shot up to $0.000065. The initial spike made its mark on October 21, when the price rose up to $0.000020. Succeeding this, the rise corrected itself, falling back to $0.000008 and the market cap fell down by $6 million.

However, the coin is trading at its inflated price on only one exchange, Mercatox. The other three exchange it is listed on is trading at 0.000002.

The total supply of Tronclassic is one trillion tokens and currently has a circulation of 465.1 billion tokens. Since the community of Tronclassic is fairly new, all the information about the token is available only on their official website. The token currently has an exchange, TRXC shop, and TRXC wallet.

Moreover, the coin has a strong resemblance to Tron [TRX], the eleventh biggest cryptocurrency in the market. This has also led to many speculating whether it is a part of the Tron ecosystem, even though it is not.

A Twitterati, @cvrbonbased, a Monero maximalist said:

“TRONCLASSIC (WTF?) up 2,235.44% on $20,137 volume. This has to be Goldman. The virus is spreading. OTC demand is through the freakin roof. New moon soon, pump it.”

Crypto$Kiki, a cryptocurrency follower, and a TRX investor, commented on the surge saying:

“Wtf is this pump!! never came across this token and seeing the sudden surge made me think its a TRX fork! can someone tell more about this?”

The post Tronclassic [TRXC] sees massive 8,449% surge despite bear’s looming presence appeared first on AMBCrypto.

Source: AMBcrypto
Original Post: Tronclassic [TRXC] sees massive 8,449% surge despite bear’s looming presence