The post TRON revenue hits new ATH, price falls despite market-wide rally appeared on BitcoinEthereumNews.com.

TRON’s daily revenue reached a new all-time high while its price witnessed a quick correction after touching its 40-month-high. On Aug. 21, TRON (TRX) reached $0.165, a level not seen since April 2021. The rally was majorly triggered by the SunPump meme coin hype as investors jumped on the Pump.fun competitor. However, TRX quickly faced increased selling pressure as both long-term and short-term holders aimed at profit-taking. TRON declined 5% in the past 24 hours and is trading at $0.151 at the time of writing. TRX price and RSI – Aug. 22 | Source: crypto.news The TRX market cap is currently sitting at $13.16 billion, losing the 10th spot to Cardano (ADA). Notably, the global crypto market cap increased by 0.7% over the past day, reaching $2.23 trillion. While TRX witnessed a bearish correction, Bitcoin (BTC) surpassed the $60,000 mark.  According to an X post by TRON founder Justin Sun, the daily revenue on the network reached $5.33 million on Aug. 21, marking a new all-time high. Sun claims that TRON’s revenue surpassed all other blockchains with the latest rise.  Yesterday, TRON’s revenue reached an all-time high of $5.33 million, ranking first among all blockchains. It’s still early. Let’s keep the momentum going. 💪 — H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron) August 22, 2024 Despite the pullback, only 0.48% of TRX holders are currently at a loss, according to data from IntoTheBlock. Roughly 12% of the TRX holders are close to their investment — either at a minor loss or little gains. The remaining holders enjoy major profits on their TRX holdings, per ITB. TRX token summary – Aug. 22 | Source: IntoTheBlock Data shows that the majority of TRX addresses, around 62%, have been holding on to their investments for over a year. 33% of them have accumulated the tokens between…

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Filed under: News - @ August 22, 2024 7:16 am