- TRON CEO, Justin Sun, has reported that the total value locked on the SUN genesis mining platform increased to $210 million.
- New data reveals a growth in number of accounts to 9 million for TRON.
TRON DeFi: 6.7 billion TRX staked on SUN genesis mining
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Tron (TRX) managed to pull a Bitcoin-like feat almost two weeks ago when it became a legal tender for the Commonwealth of Dominica. The 16th largest cryptocurrency in terms of market capitalization successfully replicated Bitcoin’s feat when it became a legally accepted tender within the territories of El Salvador. Related Reading: Litecoin Registers Over $1 Million In Whale Transactions For 2022 – Good News For LTC? TRX price slightly corrects after surging following announcement of becoming legal tender in the Commonwealth of Dominica Coin currently trades at $0.0616 Tron Protocol’s TVL drops to $1.25 billion Shortly after such momentous development, Tron witnessed a mini price rally as it traded at $0.0646 on October 15. The asset, however, is once again experiencing price correction as it failed to capitalize on its gains, going back to its downward trend that’s been going on for the past few weeks. At press time, according to data from Coingecko, TRX is trading at $0.0616. While the asset is on a decline, it managed to keep its losses at minimal levels. Tron Network Reaches Milestone Data shared by TRONSCAN showed TRX’s network users reached 117 million. The figure is the highest yet for the project but was of no help to push trading prices to higher levels. Stakers continue to show their support and stand behind Tron. Over the last 30 days, there was an increase of 1.17% on the number of present stakers for the protocol which stood at 305,458. That’s where the good news ends for the digital asset, as it also tackles with negative developments that will make it harder to make price rally anytime soon. Active users for dApps running on the crypto’s network declined over the last seven days. This impacted the total value locked (TVL) of the protocol which has declined and now stands at $1.25 billion. Source: DeFiLlama Moreover, social mentions for Tron fell sharply for the past week, going down by 18.5%. This highlighted the fact that sentiment towards the protocol and its native cryptocurrency remain negative. Price Forecast For Remainder Of 2022 Next month will be a bit better for Tron as it is forecasted to have an average trading price of $0.0679. There is a chance the asset will settle for a month-low of $0.0659 but it is still higher than its current spot price. Not much change can be expected from the crypto in December this year except for the possibility that it may trade at $0.0729. Meanwhile, TRX is expected to perform slightly better in 2023 as its average price by then is seen to be at $0.10998. The highest the crypto asset can climb next year is $0.11998, based on estimates. Related Reading: Shiba Inu Burn Rate Spikes By 1,860% – Why Investors Should Take Note Of This TRX total market cap at $5.6 billion on the daily chart | Featured image from Inside the Magic, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
The Tron (TRX) price wobbled between the $0712 and $0.067 barriers for nearly two months. This breakdown from the bottom support indicates the end of the prior correction, and sellers may extend the correction. Can the direction rally hit the $0.058 mark? key points from TRX analysis The long-tail rejection candle at $0.067 resistance indicates
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The two-month consolidation in TRX price resulted in the sellers’ favor as the they pierced the $0.063 support. This breakdown should encourage the ongoing correction and plunge the price to the next supply zone at $0.00576; should you enter a short position?
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Tron’s founder Justin Sun disclosed to reporters that several companies have reached out to him after his recent tweet that he is ready to serve. It is important to note that effort is underway with Tron already engaged with an investment bank for advice on potential deals. The bear-dominating market has not only affected investors […]
Der Beitrag Tron Founder ready to spend up to $5 billion on acquisitions as crypto firms struggle erschien zuerst auf Crypto News Flash.
The Tron ecosystem had a major blow last week when the USDD stablecoin lost its $1 peg. This led to concerns among traders as USDD was launched last month as a rival to Terra’s UST, an algorithmic stablecoin. Another depegging of a similar asset also meant that TRX’s price also dropped for a bit therafter.
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Tron’s native token, TRX, fell sharply in the past 24 hours as the blockchain’s USDD stablecoin broke away from its dollar peg. TRX slumped as much as 19%, and is now trading at $0.05- its lowest in 15 months. The token is also the worst performer among the top 50 cryptocurrencies in the past 24
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TRON’s newly launched stablecoin, USDD, and Waves’ USDN have both depegged amid the recent crypto crash. The two tokens have attracted increased after the recent collapse of TerraClassicUSD, given that they are algorithmic stablecoins that operate similarly to UST. Crypto exchanges warn against USDD and USDN Upbit, which is the largest crypto exchange in South
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Amid uncertainty over the reliability of stablecoins and bearish trends in the crypto market, one stablecoin continues to shine. The recent meltdown of Terra ecosystem brought to the fore the trustworthiness of various stablecoin projects, including the USDD stablecoin. Meanwhile, the Terra ecosystem is preparing for migration to Terra 2.0 and the LUNA airdrop. After
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After suffering brief resistance from traders following the Terra ecosystem meltdown recently, the USDD stablecoin appears to be regaining steadily. Adding to this trend is increasing market expansion for the Tron-backed stablecoin. Just few days before the Terra crash unfolded, the TRON DAO Reserve introduced USDD as a cryptocurrency with stable price and diverse use
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The failed attempt from the TRON (TRX) buyers to escape the range-bound rally indicates a potential downfall to the $0.057 mark. The $0.075 fallout brings a short opportunity for interested traders to take an 18% target. Can the concentrated EMAs stall the upcoming freefall? Key points The TRX price has lost 16% since the last
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In the midst of an unprecedented meltdown of the Terra blockchain and the market’s subsequent testing of stablecoin prices, another algorithmic stablecoin is making significant strides. In a latest move, Tron’s USDD stablecoin has been officially listed on the Huobi exchange on Friday. The move could significantly help the stablecoin expand its base further. TRON
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The TRON(TRX) price escaped a three-month-long consolidation phase with a bullish breakout from the resistance trendline of the inverted flag pattern. The breakout rally tagged an overhead resistance of $0.09 and reverted to a retest phase; however, the RSI indicator suggests weakness in the bullish momentum despite a strong follow-up candle. Key points The TRX
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The crypto market saw one of its worst crashes ever over the past week, amid concerns over rising inflation and interest rates. But three tokens appeared to have largely outperformed the 50 largest cryptocurrencies, with each seeing their own share of bullish news through the week. Tron (TRX), Monero (XMR) and Algorand (ALGO) rose in
The post These 3 Cryptos Are Leading A Recovery From This Week’s Crash appeared first on CoinGape.