TRON (TRX)
TRX price has deviated significantly from other cryptocurrencies in the bear market and has not suffered major losses. Investors have witnessed many cryptocurrencies hitting all-time lows or even lower price levels. On the other hand, Tron's on-chain data is sending more positive signals. The total value locked (TVL) reached a new high of $7.78 billion.
Continued demand for TRX coins and support for USDT helps the network value increase. While strong competitors like Solana have reached yearly peaks with TVL of around $350 million, Tron’s proximity to the $8 billion threshold is significant.
On the other hand, according to data provided by Santiment, network transaction volume peaked on October 24 and then began to decline. Considering that the price has not seen a significant drop and the upward trend is still continuing, it can be said that the demand from whales and individual investors is still continuing.
According to data released by Justin Sun, the group of cryptocurrency companies including Tron had revenue of $202 million and profit of $98 million last quarter. Sun expects profit of $104 million in the last quarter of this year.
TRX Coin Price Prediction
As of this writing, the price is $0.09499. Tron (TRX) price reached the same area in mid-July, but profit-taking quickly pushed the price lower as can be seen from the upper shadow. Now, the altcoin is more convincingly approaching the important $0.1 area, which could potentially turn the area into support.
If the price continues to rise, it will attempt to break above the $0.102 level and surpass the $0.13 and $0.148 areas. What is most striking on the weekly chart is that the price has managed to stay in a relatively tight range during the bear market. The $0.045 level has been tested several times as a bear bottom, but the price has successfully recovered from this level.
