according to the materials from the site -
By The Crypto Times
TRON demonstrates growth, surpassing 11.1 billion transactions amid rising whale activity and increased price momentum. This record activity is accompanied by a strong bullish trend for the TRX token, with some analysts setting a positive price benchmark.
The market capitalization of the global cryptocurrency market currently stands at $4.01 trillion, reflecting a daily increase of 0.04%, while the total market volume has dropped by 25.15% to $215.32 billion.
According to Coinmarketcap, the leading cryptocurrency Bitcoin is at $118,094, up by 0.05%, while the coin in focus, TRON, is trading at $0.355304, down by 1.22% over the same period.
According to crypto analyst Davide from X, the surge in TRON's activity is 'driven by record flows of USDT, as whales withdrew $700 million from Binance in 48 hours.' He added, 'TRX has increased by more than 150% for long-term holders... but the RSI indicates a possible slowdown before the next growth phase.'
CryptoQuant data highlights a steady increase in TRON transactions since 2018. The daily transaction count now ranges from 6 to 9 million, with historical peaks exceeding 12 million at the end of 2022 and the beginning of 2023. The overall volume is growing, demonstrating active adoption despite some slowdowns.
Besides transactions, the movement of large investors indicates a rise in institutional interest, but this concentration also carries risks of increased volatility.
According to TradingView data, TRON has been showing an upward trend since mid-June. According to the chart, the token price is $0.35542, which corresponds to a slight daily decrease of 0.66%.
Stochastic RSI values of 77.14 and 85.74 in the overbought zone indicate a possible short-term pullback. While momentum may slightly decrease before another jump, it still reflects active buying activity. The Awesome Oscillator is also in positive territory, indicating sustained buying pressure since July.
Strong fundamental indicators, active network usage, and liquidity provided by whales confirm a long-term positive outlook, even though high RSI values indicate a need for caution. TRON may test higher resistance levels if the trend continues.
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