TRON (TRX) Expands Cross-Chain Presence with Solana Integration as TRX Holds at $0.23

TRON (TRX) is currently trading at around $0.23, showing minimal movement over the past 24 hours despite significant ecosystem developments.

TRON (TRX) is currently trading at around $0.23, showing minimal movement over the past 24 hours despite significant ecosystem developments. The cryptocurrency’s founder, Justin Sun, has officially announced that TRX is now available on the Solana blockchain.

TRON (TRX) price analysis: price finds support at 200-day EMA

As the TRON ecosystem expands with new partnerships and projects, the cryptocurrency is showing signs of recovery from recent lows. However, TRX faces resistance at the weekly level of $0.24, which could hamper further gains.

On the other hand, the Moving Average Convergence Divergence (MACD) indicator has recently flipped to a bullish crossover, providing buy signals and suggesting a potential continuation of the bullish trend.

If TRX manages to break and close above its weekly resistance at $0.24, the rally could extend to test the next daily resistance level at $0.27. A successful break above this level could open the door for a more significant uptrend.

However, traders should remain cautious as a failure to hold support around the 200-day Exponential Moving Average (EMA) could result in a decline to retest December lows of around $0.20.

Moreover, the integration of TRX onto the Solana blockchain represents a significant strategic move for TRON. This cross-chain expansion offers several potential benefits:

This development is strategically important as TRX, which was initially an Ethereum token, launched its own blockchain in 2018. Expanding to Solana showcases TRON’s focus on cross-chain functionality and broader market reach.

TRON Ecosystem Expands with Collaborative Partnerships

Besides the Solana integration, TRON has partnered with Pump.fun to launch PumpSwap, a new native decentralized exchange designed to reinvent liquidity access and cross-chain interoperability.

Announcing the cooperation, Justin Sun said: “TRON remains dedicated to driving blockchain innovation and expanding accessibility across the Web3 ecosystem.”

“The collaboration with pump.fun on PumpSwap enhances liquidity access and cross-chain interoperability, so further reinforcing the more general goal of making distributed finance more seamless and inclusive for users worldwide.”

This partnership aims to significantly improve the user experience by simplifying the process of liquidity provision and eliminating the need for token migration. Leveraging Layer Zero and Wormhole for cross-chain liquidity, the platform will also serve as a link between ecosystems.

TRON Ecosystem Token APENFT Lists on Kraken

Another major development for the TRON ecosystem is the official listing of the APENFT token (NFT) on top international compliant cryptocurrency exchange Kraken. The listing will introduce NFT/USD and NFT/EUR trading pairs, complementing a Reef Program airdrop campaign with a prize fund of up to $90,000 in NFT tokens.

This listing marks a significant step for the TRON ecosystem in terms of compliance and internationalization.

Launched in Singapore in March 2021, APENFT is a key token in the TRON ecosystem, with a current market value of over $430 million and more than 2.16 million holding addresses.

The Kraken listing is expected to significantly increase the market exposure of APENFT tokens, transforming them from "art tokens" within the TRON ecosystem into mainstream assets in the global digital collectibles market.

TRON ETF Speculation Expanding in Response to Institutional Change

Complementing the current advancements, rumors of an Exchange-Traded Fund (ETF) for TRON are emerging, expanding on the recent approval of Bitcoin and Ethereum spot ETFs. Several asset management companies, including Blackrock, Fidelity, Franklin Templeton, and Canary Capital, have submitted new ETF proposals.

This integration could expose the TRON ecosystem to significant institutional attention.