Tron Now a Whale Sensation With 13,730,000 TRX Stacked

Key Notes

  • Lookonchain spotted two whales who acquired 13.73 million TRX and 1.414 million TRX, respectively.
  • Previously, the second whale had made roughly $277,000 from trading TRX.
  • TRX may be warming up a bull rally with Token6900 in the spotlight.

Massive activities have been spotted around Tron

TRX
$0.35



24h volatility:
3.7%


Market cap:
$33.35 B



Vol. 24h:
$1.72 B

as whales stack up the digital asset. Blockchain analytics platform Lookonchain spotted two whales who spent a huge sum to purchase TRX.

Whale Actions on TRX Sparks Speculations

According to Lookonchain, one whale with the address “TNQsyU” spent 5.02 million USDT on the acquisition of 13.73 million TRX on August 24.


More recently, another smart trader, “TWfFe1,” spent up to $500,000 to purchase 1.414 million TRX. It is worth noting that this particular whale had made roughly $277,000 from trading TRX before now.

The sum of TRX that both whales acquired comes to approximately 15.1 million tokens.

At the time of writing, TRX has a market value of $0.3514. This confirms that the coin is not particularly in the green zone, a situation that could substantiate the massive acquisition by these whales.

With a present dip of 3.71%, these holders are probably “buying the dip” with the optimism that the TRX price will rebound very soon.

TRX has been holding support around this price level in the last few weeks. Even when Tron Network confirmed a strategic partnership enabling TRX to integrate directly into MetaMask, the coin barely made a move.

As it stands, the crypto needs enough bullish pressure to hit its next upside price target, which is $0.37.

Other key metrics have also seen some fluctuations, reflecting mixed market sentiments surrounding the digital assets.

For example, TRX market capitalization is pegged at $33.26 billion with a 3.61% drop over the last 24 hours. On the flip side, its 24-hour trading volume is 116.54% higher and is now worth $1.65 billion.

The broader crypto community is reacting to Lookonchain’s post on X, with some giving a nod of the head to the whales’ move. Some crypto enthusiasts believe that TRX is warming up for a bullish season, as this may even be a signal to an incoming altcoin season.

Join the Crypto Millionaires With TOKEN6900

While TRX bulls are pushing for a major comeback, it is important to note that there are only about 3 days left for the TOKEN6900 presale. It’s already raised more than $2.5M.

TOKEN6900 is an offshoot of SPX6900 (SPX) and it offers more benefits than the latter. In such a short time, it has made more waves than some existing cryptocurrencies. It even now ranks among the best crypto presales of the season.

Current Presale Stats

Current Price: $0.0071

Amount Raised So Far: $2.59 million

Ticker: TOKEN6900

To take part in the presale, we recommend checking out our guide on how to buy TOKEN6900. Act fast because the coin’s price is set to go up in just two more days.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Tron (TRX) News, Cryptocurrency News, News

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Godfrey Benjamin on X

Source: https://www.coinspeaker.com/tron-now-a-whale-sensation-with-13730000-trx-stacked/