Tron defied the odds on Sunday, gaining more than 3% despite a not-so-complimentary remark on crypto traders by President Biden. The top 20 digital assets were in red except TRX, which gained 3.21% in the course of 24 hours.
President Biden’s negative crypto statement
On the final day of the G7 Summit, President Joe Biden reiterated his stance of “no deal” if the opposition ceases to adopt a policy that gives financial preference to vulnerable Americans and priority sectors. In his speech, the president alluded to groups and industries that should be given priority in a debt deal. Among those excluded from such deals are the oil industry and big pharmaceutical companies. Interestingly, the president also included crypto traders as a group undeserving of debt deals as the June 1 Treasury Department deadline approaches.
“I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistants at risk.”
The country is faced with the prospect of financial chaos if the government is unable to reach a bipartisan consensus over debt deals.
Little impact on the market
The statement by the president didn’t have a massive impact on the cryptocurrency market, which has not been experiencing the best of times in recent months. Bitcoin, which has been trading horizontally lost 0.9% in the last 24 hours, bringing its market price to $26,886. Ethereum is down by 1.1%, bringing its market price to $1,807. Binance Coin lost 0.9% over the course of the day, bringing its market price to $308, while Ripple lost 2.02% and is currently exchanging hands at $0.4578.
Tron (TRX) in green
Among the top 20 coins, only Tron (TRX) is in the green region, having gained more than 3%. This brought its 7-day gain to 8.41%, making it the top week-long gainer after Litecoin. Another asset that has performed remarkably well on the 7-day chart is Ripple, which has gained 7.52% on the 7-day chart. Litecoin, the biggest gainer among the top coins on the weekly chart, has gained 10.29%.