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Tron (TRX), the 10th-ranked crypto asset by market capitalization, is seeing a lot of buyer action lately. Notably, a staggering amount of its addresses are in profit as the coin’s outlook remains under investor scrutiny.
Tron’s record-breaking address profitability sparks market buzz
Per IntoTheBlock data, 72.87 billion TRX, valued at $18.11 billion, are "In the Money." This represents 85.72% of the total addresses making a profit on the blockchain.
Significantly, no address is currently "Out of the Money," and no holder is at a loss as of press time. This signals the impressive gains that TRX has made for holders in the last 24 hours.
Meanwhile, 12.14 billion TRX, valued at approximately 3.02 billion, are "At the Money." This represents addresses that are neither making a profit nor suffering a loss and accounts for 14.28% of the total addresses.
Despite this bullish development in the ecosystem, TRX is still experiencing high volatility alongside the broader crypto market. The current profitability could plunge and throw some addresses Out of the Money.
As of press time, the Tron price was changing hands at $0.2485, representing a 1.81% increase in the last 24 hours.
However, trading volume dropped by a significant 16.19% to $407.74 million within the same period. For the current setup to continue, trading volume must stay high, and the price must sustain this momentum.
Justin Sun eyes new all-time high
Even though the trading volume suggests caution on the part of investors, the community remains bullish on TRX. Justin Sun’s bullish prediction about the asset could have fueled optimism.
Notably, the Tron founder had, in a rare moment, predicted that TRX would post an all-time high (ATH) in this quarter. He noted that before June ends, TRX will flip $0.4407, which it attained in the first week of December 2024.
Tron has shown potential on the broader crypto market. Last month, it flipped Cardano, soaring to ninth place in terms of market capitalization.
Vladislav Sopov
Dan Burgin