Tron Now a Whale Sensation With 13,730,000 TRX Stacked

1 hour ago by · 3 mins read

Whales got busy with stacking Tron, suggesting an incoming price rebound. One whale purchased 13,730,000 TRX while another acquired 1.414 million TRX.

Massive activities have been spotted around Tron TRX $0.35 24h volatility: 4.3% Market cap: $33.26 B Vol. 24h: $1.72 B as whales stack up the digital asset. Blockchain analytics platform Lookonchain spotted two whales who spent a huge sum to purchase TRX.

Whale Actions on TRX Sparks Speculations

According to Lookonchain, one whale with the address “TNQsyU” spent 5.02 million USDT on the acquisition of 13.73 million TRX on August 24.

More recently, another smart trader, “TWfFe1,” spent up to $500,000 to purchase 1.414 million TRX. It is worth noting that this particular whale had made roughly $277,000 from trading TRX before now.

The sum of TRX that both whales acquired comes to approximately 15.1 million tokens.

At the time of writing, TRX has a market value of $0.3514. This confirms that the coin is not particularly in the green zone, a situation that could substantiate the massive acquisition by these whales.

With a present dip of 3.71%, these holders are probably “buying the dip” with the optimism that the TRX price will rebound very soon.

TRX has been holding support around this price level in the last few weeks. Even when Tron Network confirmed a strategic partnership enabling TRX to integrate directly into MetaMask, the coin barely made a move.

As it stands, the crypto needs enough bullish pressure to hit its next upside price target, which is $0.37.

Other key metrics have also seen some fluctuations, reflecting mixed market sentiments surrounding the digital assets.

For example, TRX market capitalization is pegged at $33.26 billion with a 3.61% drop over the last 24 hours. On the flip side, its 24-hour trading volume is 116.54% higher and is now worth $1.65 billion.

The broader crypto community is reacting to Lookonchain’s post on X, with some giving a nod of the head to the whales’ move. Some crypto enthusiasts believe that TRX is warming up for a bullish season, as this may even be a signal to an incoming altcoin season.

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Current Presale Stats

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Amount Raised So Far: $2.59 million

Ticker: TOKEN6900

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