bullish

Billion

Coin

TRX&nbsp;has showcased good price activity recently, where 100% of holders’ addresses were in green. Also, no addresses were making a loss, per the On-chain research website. Similarly, in the past 7 days, the transactions greater than $100K were $4.12 Billion. 
Moreover, the transaction volume surged to 5.87 Billion&nbsp;TRX&nbsp;in mere days. Meanwhile, the total number of addresses with a balance of Tron was 110.65 million. 
Additionally, the average time the token was held was 1.4 years before it got transferred from possession. The Whale concentration was higher at 56.46% holding 47.96 Billion TRX. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="428" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-1024x428.png" alt="Tron (TRX) Onchain data | Source: IXFI" class="wp-image-681452" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-1024x428.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-300x125.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-768x321.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-1536x642.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-150x63.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-696x291.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-1068x446.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4-1920x803.png 1920w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-3-4.png 2000w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Tron (TRX) Onchain data | Source: IXFI
 </figcaption>
</figure> 
Per Coincarp, the Rich list highlights that&nbsp;TRX&nbsp;has witnessed amazing user growth and adoption. The ace in the rich list holds 11.06% of the floating supply, and the top 20 holds 22.24% of the supply. 
<h2 class="wp-block-heading" id="h-trx-numbers-on-the-go">TRX Numbers on the go</h2> 
The trading volume of spot for the&nbsp;Tron&nbsp;has advanced by 47.22% in the last 24 hours, resulting in a traded value of $927.60 Million. Following the surge, it showed a rise in demand; the market cap also advanced by 4.34% and was valued at $14.590 Billion at press time. This made it the 9th largest cryptocurrency globally. 
As per Coincodex, the price sentiment of&nbsp;Tron&nbsp;was bullish and the fear and greed index was at 55. The value of the derivatives traded volume for the Tron advanced by 61.66% in the last 24 hours resulting in $572.24 Million. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="253" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-1024x253.png" alt="TRX Liquidations Chart | Source: Coinglass" class="wp-image-681457" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-1024x253.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-300x74.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-768x190.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-1536x380.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-150x37.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-696x172.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-1068x264.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3-1920x475.png 1920w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-4-3.png 2000w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 TRX Liquidations Chart | Source: Coinglass
 </figcaption>
</figure> 
Likewise, following the surge in derivatives volume, the open interest of the asset also witnessed an advance of 20.86% resulting in $205.21 Million. Short liquidation in the coin was huge at $410.22K. 
<h2 class="wp-block-heading" id="h-price-action-of-tron-trx">Price Action of Tron (TRX)</h2> 
Since late November 2022,&nbsp;TRX&nbsp;displayed a significant bullish rally. It climbed from a support level of $0.050 within a descending triangle to a peak of $0.1439 by February 2024, marking a 220% gain. 
Following this advancement, the price showed signs of exhaustion by March 4th, unable to break through the key supply zone at $0.14389. It eventually entered a narrowing wedge pattern, resembling a symmetrical triangle. 
Four notable touches on its boundaries confirm the symmetrical triangle pattern. It gave a breakout, and the pullback was complete after&nbsp;TRX&nbsp;saw a liquidity grab on August 5th, 2024. The upward thrust led to a substantial 43% surge that exceeded the previous peak of $0.1439.  
<a href="https://in.tradingview.com/chart/TRXUSD/nigh0pN7-TRX-saw-a-liquidity-grab-on-August/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
The&nbsp;Tron&nbsp;has already reached the 2021 highs, and continued bullishness could lead to new all-time highs, targeting $0.1798 and $0.2000. 
Conversely, maintaining support above $0.1438 is crucial if the price breaks down. 
A drop below this support could lead to further declines towards $0.1290 and $0.1181. Technical indicators reveal higher momentum, with the price taking support of the 20-day, 50-day, and 200-day EMAs. 
The RSI has reached a notably high level of 73.07, suggesting the possibility of a price pullback or consolidation. The MACD shows a bullish crossover with a histogram at 0.003642 and a MACD line at 0.009979, but caution is advised. 
The post <a href="https://www.thecoinrepublic.com/2024/08/26/tron-trx-100-holders-are-in-profit-more-bullish-run-possible/">Tron (TRX) 100% Holders Are in Profit: More Bullish Run Possible?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Tron (TRX) 100% Holders Are in Profit: More Bullish Run Possible?

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