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Cryptocurrency News Articles
Tron [TRX] Makes Massive Gains as 96% of Holders See Profits, Whales Accumulate
Oct 23, 2024 at 03:00 am
Tron [TRX] has been gaining massive traction, and the recent metrics have indicated why this altcoin has been turning heads.
Tron [TRX] has been making waves in the crypto market with its impressive performance. According to recent data from IntoTheBlock, a substantial 96% of TRX holders are sitting on profits at the current price.
This metric highlights the bullish sentiment among TRX investors, indicating that most holders are in the green.
Moreover, large transactions on the Tron network have surged by an impressive 196% in the last 24 hours.
This significant increase suggests that institutional investors and high-net-worth individuals are actively accumulating TRX.
Whale participation is often closely followed by large price movements, which could bode well for TRX's future price trajectory.
Adding to the bullish narrative, active addresses on the Tron network have also increased by 10%.
This uptick in network participation indicates growing interest and utilization of the TRX blockchain, further supporting the coin's bullish outlook.
As TRX continues its ascent, the next crucial resistance level to watch is $0.1645.
The altcoin recently retested the ascending trendline support at $0.1563 and has been building strong bullish momentum since then.
If TRX manages to break out above the $0.1645 resistance, it could set the stage for further price gains.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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