Despite continued losses in the cryptocurrency market, Tron’s Justin Sun is still bullish after stating that the space will grow to a 10 Trillion USD industry. This statement came as a shock to most crypto enthusiast, especially now when almost all the top 100 coins are in the red. However, there might be hope with the recent positive developments that will rock the industry in the coming weeks.
The total market cap dropped to $191 billion from around $195 billion yesterday, which is the lowest point since early November 2017. At press time, the losses of the crypto market over the past 7 days constituted around 20%, down from about $239 billion on September 4. Bitcoin (BTC) is currently trading at $6, 293 after losing 1% in the last 24 hours and Ethereum (ETH) is trading at $181 after dropping 4% over a 24 hour period.
Nonetheless, despite continued losses in the cryptocurrency market, Tron’s Justin Sun is still bullish regarding the crypto industry. This is after he tweeted that he believes the entire world wealth will turn into cryptocurrencies, which will result in massive growth. This will, in turn, propel the total market cap to $10 trillion before Apple and Amazon do. Justin Sun is not the only person who has come out clearly to state that the cryptocurrency market will grow exponentially since this is a technology that has never been seen before.
Additionally, following these positive statements, some new developments are expected to impact positive changes in the market very soon. One of these developments includes the recent massive hiring by Coinbase, which shows that they are planning something massive to warrant the tremendous increment of manpower at the firm. Also, NASDAQ is planning to develop the largest cryptocurrency platform on Wall Street.
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