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Tron (TRX) has seen a 352% rise in whale activity over the last 24 hours, according to on-chain data. Per data from IntoTheBlock, large holder transaction volumes — a key indicator of whale activity — have skyrocketed by 352.53% in the last 24 hours to a staggering $942.92 million. This surge raises questions about what might be driving the recent flurry of activity and whether a major move might be on the way.
The large holder transaction volume metric tracks transactions involving significant amounts of TRX, often carried out by whales or institutional players. The 352% increase indicates an increased level of activity among large holders, suggesting that these entities are either accumulating or redistributing their TRX holdings, although their exact motives remain unknown.
Tomiwabold OlajideThe TRX price has not yet mirrored the increase in whale activity; at the time of writing, Tron was down 0.93% to $0.2474. Tron declined after its massive surge on Dec. 3 to $0.449. The decline brought TRX below the daily SMA 50 at $0.2613, below where it currently trades. A decisive break above the daily SMA 50 might kickstart a fresh uptrend for Tron (TRX).
TRX expands its ecosystem
Tron has been actively expanding its ecosystem, which could be driving investor interest. Tron is solidifying its status as a stablecoin powerhouse while developing strategic collaborations to enhance ecosystem growth.
According to Messari's recent Q4 report, TRON maintained its performance across most key metrics, with TRX's circulating market capitalization increasing by about 62.46% QoQ to more than $21.94 billion, marking eight consecutive quarters of growth.
This feat was made possible by TRON's deflationary token strategy, which saw the circulating supply fall by around 0.42 billion TRX (-2.59% annually) and robust network activity, including a roughly 7.19% QoQ increase in daily transactions and a nearly 4.61% increase in daily active addresses. The network's staking ratio increased marginally to 50%, with Stake 2.0 adoption up 9.67% QoQ.
TRON's stablecoin activity remained a cornerstone, with USDT accounting for 98.3% of the stablecoin supply. Average daily USDT transfer volumes increased by 28.18% QoQ to $18.43 billion.
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
Dan Burgin
Vladislav Sopov