TRON: $8 mln investment, new integrations – so why is TRX stuck?

The network announced two separate integrations this week.

WalletConnect confirmed support for the TRON network, linking more than 600 supported wallets and around 70,000 decentralized applications to its ecosystem.

This will increase their reach across payments, DeFi, NFTs, and gaming applications.

Furthermore, TRON DAO revealed an integration with the on-chain security platform Blockaid.

The collaboration is said to add real-time threat detection and transaction validation across the network, which has processed over 12 billion transactions to date.

According to the press release, Sam Elfarra, community spokesperson at Tron DAO, said,

“Integrating Blockaid helps protect users from malicious activity as they explore on-chain applications and ensures security scales alongside adoption as more people come on-chain.”

TRX holds range after pullback

TRX traded within a tight range over the past week, despite a brief attempt to push higher. After moving toward the $0.31 zone, the price faced rejection and retraced by roughly 4%.

Since then, the token has stabilized near the $0.29-$0.30 area, where buying interest appeared to be holding at press time.

Source: TradingView

RSI slowed after recent highs and was at neutral levels. Meanwhile, the MACD flattened after a recent crossover. It seems like TRX is consolidating on the back of recent announcements.

Final Thoughts

• TRON’s ecosystem is expanding, with new integrations across payments and security.
• TRX price action remained range-bound.