The post Tron (TRX) Skyrockets 929% in Whale Activity Despite Price Sell-off appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Tron (TRX) has experienced a massive 929% surge in whale activity, even as the broader altcoin market faces a significant sell-off. This spike in large transactions, defined as those exceeding $100,000, highlights significant TRX whale activity despite the current market downturn. The price of Bitcoin soared past the long-awaited $100,000 benchmark for the first time Wednesday night. However, this milestone was met with significant selling on the altcoin market. This caused over $674 million in total liquidations, according to CoinGlass data. Bullish bets tied to longs or bets on higher prices recorded over $372 million in losses. Tron likewise saw profit-taking after an impressive 80% to fresh all-time highs in Tuesday’s trading session. At the time of writing, TRX was down 13.4% in the last 24 hours to $0.336. Meanwhile, Tron has a surge in large transaction volume in this time frame; this came into 26.48 billion TRX or $10.2 billion in monetary terms, representing a 929% surge. Large Transactions Volume, Courtesy: IntoTheBlock This surge in whale activity is particularly noteworthy given the overall bearish sentiment on the altcoin market, where many cryptocurrencies have seen substantial declines. Related Spikes in large transaction volume indicate increased activity among whales, either buying or selling. The surge in large transaction volume for TRX might be in either two ways: whales…

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Filed under: News - @ December 5, 2024 8:23 pm