TRX, or rather Tronix, is the native crypto asset of the TRON Network. TRON is a Blockchain-based decentralized network targeting an unchained, worldwide digital content entertainment structure using distributed ledger technology and enabling straightforward and cheap data sharing. How is Tron Price Prediction making out in this turbulent crypto weather as major crypto exchanges unravel?
One of the several cryptocurrencies that experienced an all-time high during the late 2017 and early 2018 cryptocurrency craze is TRX. It may be realistic to wonder whether and when it can return there, if at all, given that it hasn’t even come close to the heights it attained back then. As with other cryptos, it is always advised to do your own research and seek investment advice whenever investing.
Like many cryptocurrencies and blockchain assets, Tron enjoys a great deal of interest not only in its immediate utility in empowering the next form of the internet – but also in its potential to bring profit to those holding it. Rest assured that a lot of development is taking place to improve the Tron ecosystem. If you encounter any issue with the system, here is a good place to look.
How much is TRX worth? Today’s TRON price is $0.1029 with a 24-hour trading volume of $205,721,413 USD. TRON is up 2.15% in the last 24 hours. The current CoinMarketCap ranking is #10, with a live market cap of $9,093,715,140 USD. It has a circulating supply of 88,383,497,811 TRX coins and the max. supply is not available.
Tron price analysis: TRX value transcends $0.1028 boundary after upside TL; DR Breakdown Tron price analysis shows an uptrend. Coin value has improved up to $0.1028. Strong support is available at $0.1000. The latest one-day and four-hour Tron price analysis for 20 December 2023 indicates an upturn in price today. Although the bears have been ruling the market since the past week, the current market trends are in favor of the buyers. As the price followed an increasing movement in the past 24-hours, TRX/USD has improved up to $0.1028 high. TRX price analysis 1-day chart: Bullish swing carries price above $0.1028 high The recent one-day Tron price analysis confirms a noticeable recovery in the cryptocurrency value today. The price has been covering an ascending path since the past 24-hours, as the buying activity is on the rise. Because of the latest upward spike, TRX/USD value has leveled up to $0.1028 high. On the opposite hand, the Moving Average (MA) value dropped down to $0.1028 because of the previous bearish activity. TRX/USD 1-day price chart. Source: TradingView The one-day price chart dictates a rising volatility, which is a bearish hint regarding the approaching market trends. As the volatility is expanding, the upper and lower ends of the Bollinger bands indicator have shifted their positions as well. Currently, the upper end of the Bollinger bands indicator is present at $0.1075 high. Whereby, the lower end of the Bollinger bands indicator is present at $0.1001. Moreover, the Relative Strength Index (RSI) graph displays a bullish curve and its overall value has hiked past 49.31 today. TRX/USD 4-hour price chart: Cryptocurrency value depreciates below $0.1027 margin The latest four-hour Tron price analysis indicates a massive downturn in price today. The bears have been able to bounce back in the past four hours, as the bullish wave has been overcome easily. Currently, the selling momentum is increasing and the coin value has declined below $0.1027 edge. Moreover, the Moving Average (MA) value has hiked past $0.1019 because of the earlier upside. Although a bullish wave was reported earlier, currently the situation is going in favor of the sellers. Moving on, the upper and lower values of the Bollinger bands indicator have shifted their positions as well. Currently, the upper end of the Bollinger bands indicator occupies $0.1028 value, whereby its lower end is present at $0.0987 end. Moreover, the RSI graph depicts a bearish slope as well as its overall value has sunk to 55.34 bottom. What to expect from TRX price analysis? The latest one-day and four-hour Tron price analysis confirms signs of an increasing trend for the day. The bulls have been able to break past bearish resistance during the past 24-hours, as the coin value has demoted to $0.1028. On the other side, the four-hour price analysis confirms a downward trend in the past few hours, as the bears took over once again. Recent News on TRON CFA Renews Accusations Against Circle Over Illicit Finance and TRON Ties. The Campaign for Accountability (CFA) has reiterated allegations against Circle, accusing its Cross Chain Transfer Protocol (CCTP) of facilitating illicit finance in the digital asset space, particularly through transfers to the Tron blockchain network. CFA’s concerns extend to Circle’s unapproved offering of USDC stablecoins on Tron and other offshore blockchains. The watchdog questions Circle’s transparency, citing undisclosed links to Tron founder Justin Sun. Circle’s response to the accusations in November was refuted by CFA, which highlights the broader market sentiment regarding cryptocurrency’s potential misuse for illicit activities, including funding terrorism. TRX Resilience Amid FTX Liquidation. Despite FTX’s recent liquidation of substantial TRX assets, the cryptocurrency has displayed resilience in the face of market volatility. FTX transferred 161 million TRX to Binance, but TRX remains stable at $0.1047, marking a 1.50% daily increase and over 5% weekly gains. With FTX still holding around 279.8 million TRX, market analysts are closely monitoring technical indicators, including the potential for a bearish crossover in the daily MACD. TRX rebounded from $0.10155, and attention now centers on breaking the $0.10550 resistance for further gains, possibly reaching $0.11050. Tron Network Dominates Stablecoin Market. A study by Peter Johnson and Sai Nimmagadda from Brevan Howard Digital reveals that in the first half of 2023, the Tron Network hosted 40% of the 5 million weekly stablecoin users. With $70 billion in weekly stablecoin volume, Tron has emerged as a strong competitor to Ethereum in the stablecoin space. In 2022, stablecoins on various networks reached $11 trillion in volume, making up 14% of Visa’s transaction volume. Tron’s confidence in reaching $3.64 trillion in volume for 2023 and its significant use of Tether (USDT) underscore its growing role in the stablecoin ecosystem. New achievement unlocked: TRX becomes the largest USDT chain. TRON has achieved outstanding success as the biggest blockchain for USDT agreement, with a record Total Value Locked (TVL) of $6.648 billion, as well as 1.44 million daily active addresses. This surpasses different essential blockchains like Binance Smart Chain, Ethereum, MATIC, Arbitrum, and Solana. The TVL metric indicates TRON’s trustworthiness and its growing dominance in stablecoins has positioned it as a favored platform for stablecoin operations, attracting both users and developers. Meanwhile, TRON’s native token, TRX, is on an upward trend, reflecting the platform’s wonderful momentum within the cryptocurrency area. TRON (TRX) is collaborating with APENFT and the Giacometti Foundation to organize an art showcase in Paris running from October 7, 2023, to January 7, 2024. This partnership aims to bridge art and blockchain technology. Moreover, TRON introduces TroNBox, a versatile smart contract toolbox, enabling users to easily develop, test, and implement smart contracts on the TRON network, making blockchain accessible to a wider audience. Justin Sun, the TRON founder, recently minted $865 million worth of TrueUSD (TUSD) stablecoins in 10 transactions on September 15., which raised concerns due to TUSD’s limited adoption in the crypto industry. Sun initially transferred the stablecoins to a Huobi hot wallet, then moved them to an stUSDT mint contract, burning the tokens. He subsequently deposited the newly generated $865 million stUSDT tokens into the TRON-based DeFi platform, JustLend, leveraging his extensive connections within the involved protocols and exchanges. A substantial 5,000 ETH was transferred from a Tron address to Huobi exchange, believed to be associated with TRON’s founder Justin Sun. The address, linked to Sun, withdrew 200 million USDT from Tron’s JustLend and shifted the funds to Huobi, according to PeckShieldAlert. Tron founder Justin Sun purchased five million CRV tokens from Curve Finance founder Michael Egorov at a discounted price of $0.4 per token, spending $2 million in USDT. The deal was registered by Etherdrops, a cryptocurrency token monitoring service. This purchase…
