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Tron network achieves a jaw-dropping milestone as 99% of its addresses are in profit.
Tron (TRX) is currently among the beneficiaries of the ongoing rally across the broader market. The coin’s price has recorded impressive growth recently, surging 7.4% in the past week, 12.7% in the 14-day charts, and 22% over the previous month.
Additionally, TRX’s price has increased by 22.8% since the beginning of the year. Based on its year-to-date performance, Tron now ranks as the 13th largest cryptocurrency with a market cap of $11.66 billion.
No Tron Address Underwater
Following the remarkable surge of TRX, the number of Tron addresses in profit recently spiked to almost 100%, according to data from IntoTheBlock’s Global In/Out of the Money.
For context, the In/Out of the Money metric analyzes the prices at which the addresses acquired TRX comparing it to the asset’s current price. IntoTheBlock classifies the addresses that acquired TRX below the current price to be “In the Money” or in profit. Conversely, addresses that acquired the asset above the current price are said to be “Out of the Money” or at a loss.
However, investors who purchased TRX at the current price are tagged as being “At the Money” or breakeven. Per the data, a whopping 115.9 million addresses holding TRX, representing 99% of all holders, are currently in profit.
Although the data suggests that there are no Tron addresses in losses, it revealed that 1.17 million addresses, representing only 1% of TRX holders, are at breakeven.
$TRX hodlers, come feast your eyes on this! via @intotheblock
99% of addresses (115.9M) massively in profit
Just 1.17M at breakeven & 0 losing money.Mimicking $BTC with barely any underwater addresses.
With almost ALL holders piling profit, $TRX to the moon! 🚀 #BTC #TRX pic.twitter.com/Ejzvih0cKj
— Crust Bestie |Lia|🥰 (@Crustbestie) February 15, 2024
Terrorists Choose Tron Over Bitcoin
Launched in 2017 by Justin Sun, Tron is a decentralized blockchain with proof-of-stake and smart contract functionalities.
Tron found itself in a scandal last year after Reuters reported that it overtook Bitcoin as the network of choice for terrorists in the wake of the Israel-Hamas conflict.
This comes after Israeli authorities froze 143 Tron addresses that have been used to finance terrorism. Notably, the Tron addresses were frozen from 2021 to 2023. On the contrary, the authorities froze only 30 Bitcoin addresses linked to terrorist financing within the same timeframe.