Justin Sun’s Tron (TRX) has kept it low-key for the last few years. The advent of newer cryptocurrencies sidelined the somewhat older ones. But in a new development, TRX is making headlines following its recent uptick.
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TRX’s Recent Performance and Market Position
Trade Volume and Market Valuation
Over the past seven days, the altcoin surged by 16%. The asset went from a low of $0.13 to a high of $0.16. At press time, TRX was trading at $0.1529, but following a slight setback, it dipped by 4.42% over the past 24 hours.
At the same time, its trade volume increased by 139%. TRX’s daily trading volume has reached its highest point since Nov. 7, 2022, with a total of $1.87 billion. With a market valuation of over $13.8 billion, it ranks as the tenth largest cryptocurrency.
Overtaking Cardano and Revenue Milestones
The asset managed to overtake Cardano (ADA). In addition, the daily revenue on August 21 hit a new all-time high of $5.33 million. With the most recent increase, according to Justin Sun, TRON’s revenue eclipsed that of all other blockchains.
Profitability of TRX Holders
Following the asset’s latest rise, many TRX holders were in profit, and almost no holder was enduring a loss. According to data from IntoTheBlock, 87% of the altcoin holders were making money at the asset’s current price.
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Tron Price Prediction
It looks like the asset’s bullish streak is not over yet. August 25, in particular, is expected to be an extremely eventful day for TRX.
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Reports suggest that the altcoin will rise 17% from its current price and trade at around $0.189943. This rise would put more holders at a profit.
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