u.today
$TRX, the native currency of decentralized blockchain platform TRON, has seen a major bullish development today. While its price has remained steady recently, a trend not seen across the market, $TRX is hinting toward another upward trend in the near future. Bulls are also jumping on the $TRX bandwagon amid this positive sentiment.
IntoTheBlock, a leading market intelligence platform, recently tweeted about a strong bullish signal for the TRON-based coin. They tweeted that $TRX has surged 237% over the last year in its long-term holder addresses. As of press time, the $TRX coin has almost 90 million long-term holder addresses.
This is a huge development for TRON as it shows that long-term investors are displaying great support and confidence in TRON’s future. More traders have started to buy $TRX and hold it for the long term. This sentiment among traders typically gives a cryptocurrency strong momentum. Consequently, $TRX is expected to continue its upward movements.
$TRX price performance
In the last 24 hours, the $TRX price has surged 0.76% to $0.1539. While this is a minor increase, the coin has fared quite well over the long term. It has soared 20.82% in the last 30 days. Now, this is a crucial figure. The broader crypto market has been in a state of despair during this time. There were massive liquidations and sharp declines in the prices of various coins. Leading coins like Bitcoin (BTC) and Ethereum (ETH) have remained in a consolidation phase.
However, TRON’s $TRX has outperformed these top digital currencies. At the time that the overall market was bleeding, $TRX performed much better, with a price increase of 20.82%. It has defied all the odds, which is a major accomplishment. Now, the surge in long-term holders indicates investor confidence in the coin. It is likely that $TRX will continue its momentum and secure more gains.