TRX reaches $ 0.42, but the profit makers may be pulled out of the price star-news.press/wp

Main meals

Since the beginning of the year has been driven by two main workers. However, achieving profit may affect negatively.

Tron (TRX) has maintained a strong trend since the beginning of the year until now, which has led to the great gains of TRX.

However, at the time of the press, TRX had almost moved since the end of the previous day. However, it continued to attract a lot of daily trading – about $ 920 million.

Achieved gains for TRX Hit Record higher

The gains of the past 24 hours have been the second to be measured in a year to date. TRX’s gains were fluctuated only by Bitcoin (BTC) and ETHEREUM (ETH), which was at $ 665 million and $ 337 million, respectively.

These profits have escalated in the past five days, with nearly $ 1 billion at the time of the press. But despite the value of SOPH of 1.04, the unrealized net profit/loss was optimistic with caution.

This suggested a short -term transformation in the behavior of their owners, and perhaps towards profit. For all Glassnode, these hamors have kept since the 2020-2021 bull market.

Source: Glassnode

With this in mind, what can lead to these gains?

What feed these profits?

The implementation of the burning mechanism to create scarcity has been done. As of the time of writing this report, you burned about 40B TRX, which reduced its supplies.

More importantly, this month of August, Terron removed about 166 meters from the distinctive symbols, which was tenth of what was burned in July. The Foundation has maintained the fixed burning mechanism since the beginning of 2023.

Source: Cryptoquant

Not only did the price increase, but also from the fees, as Tron was a layer of Stablecoin.

Usdt from Tether, which is mostly released on TON and ETH, Generate About $ 7.57 billion in annual fees.

Also, the founder, Justin Sun, was at the forefront of the ALTCOIN circular. His cooperation with other chains and the highest memes such as Trump led to more attention to the series.

This is also improving the generation of information technology revenues for participants who use the primary system for the processing of memeat.

The effect of achieving profit on the price

However, the Tron price procedure can be determined; The short -term price declines in the wake of the high activity in achieving profit.

TRX was traded at its lowest level in 52 weeks and was close to $ 0.42. This step has been operated since the lowest level of $ 0.20 in early February.

Macd appears to be interacting with a pregnant activity, as the force has turned slightly into the bears.

Source: TradingView

Fortunately, not everything was lost, as the RAM indicated that the sellers were exhausted after a period of lock gains. The scale, at 40, was approaching the neutral value.

Thus, TRX can face a short -term correction of the price before resuming its upward path.