Tron (TRX) Price Analysis and Prediction: Bulls Aim for New Highs as TRX Flips Resistance to Support

TRX has showcased good price activity recently, where 100% of holders’ addresses were in green. Also, no addresses were making a loss

Cryptocurrency price movements over the last few days have been largely positive, with most assets displaying gains. Among them, TRX has stood out with a remarkable rally, driven by several positive on-chain metrics and a strong price action.

On-chain data from Footprint Analytics reveals that 100% of TRX holders’ addresses are currently in the green, indicating that no addresses are experiencing losses. This positive sentiment is further highlighted by the substantial volume of transactions exceeding $100K, which amounted to a staggering $4.12 Billion in the past 7 days.

Moreover, the transaction volume has surged to 5.87 Billion TRX in mere days. At press time, the total number of addresses with a balance of Tron was 110.65 million.

The average time the token was held before being transferred from possession was 1.4 years. The Whale concentration was higher at 56.46% holding 47.96 Billion TRX.

Per Coincarp, the Rich list highlights that TRX has witnessed amazing user growth and adoption. The ace in the rich list holds 11.06% of the floating supply, and the top 20 holds 22.24% of the supply.

TRX Numbers on the go

The trading volume of spot for the Tron has advanced by 47.22% in the last 24 hours, resulting in a traded value of $927.60 Million. Following the surge, it showed a rise in demand; the market cap also advanced by 4.34% and was valued at $14.590 Billion at press time. This made it the 9th largest cryptocurrency globally.

As per Coincodex, the price sentiment of Tron was bullish and the fear and greed index was at 55. The value of the derivatives traded volume for the Tron advanced by 61.66% in the last 24 hours resulting in $572.24 Million.

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