2 days ago
The Tron Network has recorded increased transaction volumes compared to rival networks in recent months. Recent events like the decline of the TON network after blistering inflows led to this trend. The price of TRX is also expected to jump following bull signals as it moves out of the ‘overbought’ zone. A new CryptoQuant report shows the Tron network outpacing other major blockchains in the last three months. In that time frame, monthly volumes totaled $182 million, $167 million, and $135 million in October, November, and December, respectively. The network’s popularity among retail users is rising due to its efficiency and cost. Institutions have also played a part as inflows lead to more market transactions. According to the analysts, the decline of TON enabled Tron to take the top spot, coupled with Tether’s activity. In previous months, Telegram-based games took over the ecosystem, with the network being a huge beneficiary. Inflow to the ecosystem began to decline as momentum shifted to other networks. Furthermore, Tron’s USDT volume is another driver of bullish activity. This comes on the heels of retail crypto traders ramping up gains on the back of the market surge. What Next For TRX Price? Amid huge inflows, TRX surged to new highs, recording huge community activities. The asset’s rise was linked to its transaction volumes, and gains were seen in wider crypto events. The United States election was a major driver of crypto prices this quarter. After the polls, the asset hit a new all-time high above $0.45 before sharply declining. It should be noted that Justin Sun’s announced of a $30 million investment in Donald Trump’s World Liberty Finance. However, the wider market crash saw the asset record a 40% correction, although the bull signal increased on-chain data. According to CryptoQuant, a custom indicator based on the combination of RSI and MACD points to a move away from the overbought zone. This is a sign of incoming bull activity with healthier conditions from investors. Ahead of next year’s projected rally, institutional investors are repositioning assets and whales ramping up tokens. “ The next steps are crucial. If we see an “oversold” signal in the coming days, it could present a solid buying opportunity for those aiming to capitalize on the continuation of Tron’s bullish momentum. For now, patience is key. Monitoring this custom indicator and staying updated on market trends will be vital to identifying the right moment to re-enter Tron,” the report added.
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Source: ZyCrypto
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Cryptocurrency News Tron News TRX
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Musk’s Tesla Fire (MUSKFIRE) Solana Memecoin to Surge 19,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Lag
Musk’s Tesla Fire could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Musk’s Tesla Fire (MUSKFIRE), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because MUSKFIRE is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Musk’s Tesla Fire can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Musk’s Tesla Fire could become the next viral memecoin. Musk’s Tesla Fire launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Musk’s Tesla Fire on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk’s Tesla Fire by entering its contract address – HuyxQUYCfoVCBpNoS1LxC1kbQuajYW9EqEcKoJqtdS1C – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKFIRE. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. ZyCrypto
Tether, Tron and TRM Labs Help Freeze $126 Million in USDT Linked to Crime
A coalition formed by Tether, Tron, and TRM Labs is working with law enforcement agencies across the world to stamp out crypto-related crime. ZyCrypto
