Whales Add $293 Mln Tron (TRX) After Stellar May Gains

The TRON (TRX) token has managed to maintain its momentum despite a bear market. The TRX token has emerged as the top gainer of this month. Meanwhile, the Crypto whale wallets have bagged a huge amount of TRX over the past 24 hours.

TRX prices surge past major cryptos

According to the data from Whale Alert, in multiple transactions whales have added over $293 million worth of TRX tokens. Around 3.56 billion TRX have been moved from Binance to different unknown wallets. This acquisition included the two massive transactions of over $76 million. In similar transactions, the whale added over $87.7 million worth of TRX tokens on May 30, 2022. Its biggest transaction carried around 960 million TRX from Binance to an unknown wallet.

The TRX token is trading at an average price of $0.081, at the press time. Its 24 hour trading volume is up by 9% to stand at $967 million. The TRON token is up by over 20% in the past 30 days. Meanwhile, the biggest digital assets like Bitcoin and Ethereum have slumped by 17% and 29%, respectively.

TRON DAO adds new member to its list

Earlier, the TRON DAO Reserve announced that TPS capital, the official over the counter (OTC) desk for Three Arrows Capital has become the eighth member of it. Earlier, the Falconx network was added by the Reserve to its lists of members. Meanwhile, Justin Sun, TRON head, mentioned that some big news related to their stablecoin, USDD will be dropping this week.

TRON’s USDD has proved to be the most profited stablecoin in the light of the TerraUSD collapse. The USDD total supply has increased to stand at $601 million. Its 24 hour trading volume stands at $62 million.

This surge has helped the TRON chain to increase its total value locked during the market crash. TRON’s TVL has increased by around 50% in the last 1 month. Its locked value stands at $5.9 billion. However, the Ethereum chain is still leading with the biggest TVL.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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