TRON will soon announce a partnership with BitTorrent.
The price of TRX has been rising over the past day and the stats, along with market indicators, have been looking bullish.
TRON [TRX] reached another milestone that reflected its increased adoption around the world. TRONSCAN revealed that TRON’s total accounts passed the 140 million mark – they stood at 140,010,268 at the time of going to press.
🎉🎉🎉 Congratulations!!! #TRON‘s total accounts have reached 140,010,268, more than 140 million!
🚀#TRON ecosystem has developed rapidly and continues its efforts to decentralize the web.
🥰 Appreciation for everyone #TRONICS! pic.twitter.com/XguQcGkRCF
— TRONSCAN (@TRONSCAN_ORG) February 2, 2023
Is your wallet green? Check the TRON Profit Calculator
In addition, Justin Sun, the founder of TRON, announced new developments taking place in the TRON network. On February 2, he announced TRON’s partnership with BitTorrent. The new partnership enables new possibilities and builds a more efficient future by combining artificial intelligence (AI) and blockchain technologies.
Exciting news! #TRON and #BitTorrent has reached its first AI partnership. Will be announced soon! By combining AI and blockchain technology, we unlock new possibilities and create a more efficient future.
— HE Justin Sun🇬🇩🇩🇲🔥₮ (@justinsuntron) February 2, 2023
Did TRX respond accordingly?
TRX reacted to these developments by registering an increase over the past 24 hours. From CoinMarketCapthe price of TRX is up 1.7% and at the time of writing it is trading at $0.06465 with a market cap of over $5.9 billion.
This increase in price could also be a reason why the whales showed an interest in TRX. Notably, WhaleStats revealed that TRX ranked third in the list of most used smart contracts in the top 100 largest BSC whales in the last 24 hours.
🏆 MOST USED smart contracts for the top 100 largest #BSC whales today
🥇 $BNB
🥈 #BabyDoge @babydogecoin
🥉 $TRX @tronfoundation
4️⃣ #BSC-U.S. DOLLAR @Tether_to
5️⃣ $DOGE @dogecoin
6️⃣ $BUSD @PaxosGlobal
7️⃣ $BTCB
8️⃣ $USDC @circlepay
9️⃣ #WEB5 @web5inu
🔟 $ Pie @pancake exchange pic.twitter.com/fzbiDc9CkN— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) February 3, 2023
TRX’s stats performance also remained decent as several of them supported the possibility of a price increase. For example, TRX’s Binance funding rate remained consistently high, reflecting the high demand from the futures market. Development activity also increased, indicating that developers were putting more effort into improving the network.
Not only that, but DeFiLlama’s as well data revealed that TRON’s Total Value Locked (TVL) also continued to rise, which also looked positive. However, TRON’s popularity declined as its social volume declined.
Source: Sentiment
Realistic or not, here it is TRX Market Cap in BTCs requirements
Better days to carry on?
interesting, TRXThe daily chart revealed that investors may find some relief as bulls led the market. The Exponential Moving Average (EMA) Ribbon finding was bullish as the 20-day EMA was well above the 55-day EMA. In addition, TRON’s Relative Strength Index (RSI) registered an uptick, increasing the likelihood of a sustained price increase.
Although the Money Flow Index (MFI) fell slightly, it was still well above the neutral mark, which was also bullish. Nevertheless, the Bollinger Bands suggested that the price of TRX entered a zone of low volatility, preventing the price of TRX from skyrocketing in the near term.
Source: TradingView
This post Is it time to hop on the TRON [TRX] bandwagon, based on these developments
was published first on https://ambcrypto.com/is-it-time-to-jump-on-the-tron-trx-bandwagon-based-on-these-developments/
