The post TRX price double bottoms as Justin Sun recommends buying the dip appeared on BitcoinEthereumNews.com.

Tron’s price continued its strong downward trend, reaching its lowest level in over four weeks as founder Justin Sun urged investors to buy the dip. Tron (TRX) fell to a low of $0.2200, down more than 50% from its December high. This decline has pushed TRX’s market cap from over $26 billion to $19 billion. In an X post on Monday, Sun recommended buying the dip, maintaining his long-held view that Tron remains highly undervalued. Sun’s bullish stance is backed by Tron’s strong fundamentals. The network ranks as the third-largest player in decentralized finance after Ethereum and Solana with a total value locked of $6.69 billion.  Tron is also the market leader in Tether transactions because of its more affordable transaction costs than Ethereum. On Monday, Tron’s USDT transactions surged by 91% to $137 billion, making it one of the largest payment processors globally. The Tron blockchain currently has over 59.2 million USDT holders. Buy the dip and focus on building! 2025 will be a great year!🤞 — H.E. Justin Sun 🍌 (@justinsuntron) January 13, 2025 Tron also ranks high in the decentralized exchange industry. Since its inception, its DEX protocols have handled almost $100 billion in volume. In the last seven days, they processed tokens worth over $782 million, making it the 10th chain.  Tron is also highly popular among users as monthly active addresses and transactions have remained steady in the past few months. It has over 2.17 million active addresses, making it the second-biggest chain after Solana, which has 4.27 million. Tron active addresses and transactions | Source: CryptoQuant Tron offers competitive staking yields, making it an attractive option for holders. The network’s staking yield is currently 4.52%, supported by rising network fees and a declining circulating supply. According to TokenTerminal, Tron collected $2.21 billion in fees…

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Filed under: News - @ January 14, 2025 9:23 pm