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Despite experiencing a 3.2% price decline to $0.2525, Tron (TRX) has emerged as the leading profitability cryptocurrency asset. IntoTheBlock data reveals that Tron leads with over 95% in terms of addresses in profit. This places the asset above notable rivals like Bitcoin, Ethereum and Cardano.
Tron Outshines Bitcoin and Ethereum in profit metrics
Tron’s addresses in profit amount to 156.16 million, representing 95.73%. These "In the Money" addresses, as tagged by IntoTheBlock, are currently raking in significant gains in the market.
Meanwhile, only 1.15% or 1.88 million addresses are recording losses, or are "Out of the Money."
Godfrey BenjaminAmong the top 10 digital currencies, Bitcoin was the closest to Tron in terms of profitability. Bitcoin currently has 95% profitability. Ethereum and Cardano were lower in gains, registering 78.96% and 59.95%, respectively.
Interestingly, Tron achieved this success even with a noticeable decline in price performance. In the past seven days, TRX has dipped below $0.25 support levels as the asset battles market fluctuations.
As of this writing, TRX is exchanging hands at $0.2509, representing a 3.4% decline in the last 24 hours. Despite this slight dip, trading volume has witnessed an upsurge of 28.75% to $819.19 million. Tron market participants remain bullish and anticipate a shift in price any time soon.
Whale activity and ecosystem support
Analysts credit Tron whales as a major support for the ecosystem thus far in December.
As reported by U.Today, there was a 929% upsurge in whale activity recently, even as the altcoin market experienced sell-off pressure. This increased whale activity while bearish sentiment prevailed might have helped in nudging Tron to the top spot.
Tomiwabold OlajideMeanwhile, positive sentiment is rising as the market awaits 2025 to begin the countdown to the new U.S. administration. Notably, Justin Sun, Tron’s founder, has hinted at repositioning the asset with the expected shift in regulatory dynamics.
Sun dropped a hint of a future direction when he asked the bold question, "What's better than our own 'Micro' Strategy for TRX?" This question might be answered soon and further fuel profitability for the altcoin.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov