![]() In addition, TRON DAO Ventures invested $2 million in DEX Curve.īut amidst this, TRX could face some serious price fluctuations due to impending FTX liquidations. The Tron team meanwhile opened virtual world stores in real-time for developers' conference attendees, and the network joined the JCBA as an affiliate. 2021 and, up from $4 bln at the beginning of this year and $4.9 bln about a month ago. With this growth, Tron's TVL is reaching closer to its $6.7 billion peak in Nov. As of writing, it is at $5.78 billion, the second-highest after Ethereum's $21.26 bln, according to DeFi Llama. The market cap of stablecoins grew over $45 billion between May and June, with daily transactions peaking at an impressive 13 million transactions around the same period.Īmidst all this, the total value locked (TVL) in Tron's DeFi ecosystem is also rising. This growth can be attributed to the burgeoning demand for cost-effective and reliable stablecoin transactions. ![]() The number of active users in the ecosystem has been over 1.25 million, while revenue has been over $1 million in the past 24 hours. According to data from a Nansen report, Tron has been processing a remarkable average of over 4.8 million daily transactions, a measure of its growing popularity and usage among investors and traders. Earlier this year, the owners of the defunct crypto hedge firm Three Arrows Capital proposed a crypto exchange dubbed “GTX,” capitalizing on the fact that “G comes after F.” Now, comparisons to the FTX have sparked controversy for HTX with FTX founder Sam Bankman-Fried currently facing fraud-related charges.īesides the controversial rebranding, another factor that could be aiding this price action is the recent surge in transaction activity. Huobi is not the first startup to use a name structure similar to the bankrupt exchange FTX. Moreover, now, Huobi's native token, Huobi Token (HT), is also represented by the “HT” in the new name. 2018.įounded by Justin Sun, the native token of blockchain platform Tron enjoyed these latest gains as cryptocurrency exchange Huobi rebranded to HTX on its 10th anniversary with a new slogan - “HTX, Just Trade It.”Īccording to the exchange, in the HTX rebrand, the “H” represents “Huobi,” while the “T” represents “Tron,” and the “X” stands for the exchange. TRX's price is also up 36% over the past year but down 63.8% from its all-time high (ATH) of $0.2316 that it hit in Jan. Unlike the broad crypto market, TRX's general trajectory in 2023 has been upwards, and the taken is up more than 54% year-to-date (YTD). Meanwhile, on the downside, the price has support available at $0.080 and $0.0780. The price of the 11th largest cryptocurrency with a market cap of $7.47 bln is currently consolidating, and if it moves up, it is facing an early point of resistance at $0.0815, then at $0.0828, and further rally will see it going to $0.085. Since Monday, TRX's price has recorded a spike of 8.8%, and the token is now up about 10% in the past 30 days. Up 3.6% in the past 24 hours, TRX is trading at $0.0838 at the time of writing while managing $260 million in volume, which has increased 25.5% from a day ago. The latest gains came after Monday's brief move below crucial support at $25,000 on the back of upbeat China's August retail sales and factory output data that has revived risk sentiment in financial markets.Īltcoins, including Tron's TRX, jumped just days after traders sold these tokens, pricing in the possibility of defunct exchange FTX securing approval from the bankruptcy court to sell assets from its multi-billion dollar cryptocurrency holdings. As Bitcoin price moved higher, surpassing $26,750 on Thursday, altcoins also rejoiced with gains.
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