The post Big Win for TRON Investors as TRX Price Tapped 39-Month High: Details appeared on BitcoinEthereumNews.com.

TL;DR TRX has surged over 30% in the past two weeks, now trading near $0.17, and has entered the top 10 cryptocurrencies by market cap, surpassing $14.5 billion. Currently, all of the asset’s holders are sitting on some paper profits. TRX’s Solid Performance TRX – the native token of Tron – has been among the best performers in the entire cryptocurrency market in the past few weeks. Its price is up over 30% on a 14-day scale, currently trading at almost $0.17 (per CoinGecko’s data). TRX Price, Source: CoinGecko What’s more, TRX recently became one of the top 10 biggest cryptocurrencies after its market capitalization surged above $14.5 billion. The 11th spot belongs to Toncoin (TON), whose price plummeted over the weekend following the arrest of Telegram’s founder and CEO – Pavel Durov. TRX’s substantial price increase has benefited those invested in the token. IntoTheBlock data currently shows that 100% of the HODLers are sitting on some paper profits. It is worth noting that the majority of TRX investors (62%) have entered the ecosystem over a year ago. 33% have done so in the past 12 months, while only 5% have jumped on the bandwagon in the last 30 days.  Despite being on the crest of a wave, some indicators signal that TRX’s valuation might be headed for a correction. One example is the Relative Strength Index (RSI) which gauges the speed and change of price movements of the asset and shows whether it is overbought or oversold. The momentum oscillator varies from 0 to 100 as a ratio above 70 signals that TRX is in overbought territory, meaning a pullback could be an option. Currently, the RSI is hovering around that zone. TRON’s Memes Took Central Stage TRON’s ecosystem has recently experienced a general resurgence, with thousands of meme…

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Filed under: News - @ August 27, 2024 4:18 am