Tron (TRX) Spikes in Value by 19% After Crypto Finance Support, Dmm Bitcoin Listing and Solid Weekly Performance

Key Insights:

• The value of the TRX cryptocurrency has increased by 19% in the span of the last 24 hours.

• Tron published their weekly report, where they shared impressive numbers in terms of adoption.

• Tron (TRX) and its broader ecosystem have a fighting chance to pull through this Tron also got listed on DMM Bitcoin, which is the largest exchange in Japan.

Tron (TRX/USD) has a huge ecosystem of decentralized applications (dApps) that power the decentralized finance (DeFi) space, many of which have gathered a high level of reputation within the crypto sphere.

Tron made an announcement on June 15, 2022, that they will be supported by Crypto Finance. What this means is that more TRON-based tokens will be added in the near future.

TRX also became available on DMM Bitcoin, which is one of the biggest cryptocurrency exchanges in Japan.

Crypto Finance provides trading and asset management services to institutions, that include banks and financial service providers, and is a ​​part of Deutsche Börse and licensed by the Swiss Financial Market Supervisory Authority FINMA.

Alongside that development, on June 16, 2022, Tron published their weekly report where they mentioned numerous updates in regards to their technical progress, core data, and community updates, alongside other various types of data.

Most notable out of these is the completed design of the integration mechanism for parachain in cross-chain communication, as well as the testing of Solidity compiler v0.8.7.

Additionally, TRON’s block height managed to exceed 41.1 million, and the total number of nodes stood at 6.175.

The total number of accounts within TRON’s mainnet reached 96,929.001, and 1,000,892 new accounts were added within the span of just a single week.

Based on this data, on a weekly basis, TRON had 34.73 million transactions, with a total number of transactions of 3.32 billion.

Based on all of this, it is clear that the Tron ecosystem and its native cryptocurrency are performing well even despite the broader bearish crypto market.

Technical Indicators

As of June 16, 2022, TRX as a cryptocurrency was trading with a value of $0.05852.

Throughout the span of the last 24 hours, TRON’s value saw an increase of 19%, which is fueled by its recent developments, integrations, and its fight towards the maintenance of USDD’s peg to the U.S. dollar.

To get an estimation as to where its current value point is, we will be looking at its all-time high and its weekly performance. This will give us an estimation if the cryptocurrency is in a position to be traded, invested in, held onto, or sold.

The all-time high of the Tron (TRX) cryptocurrency occurred on January 5, 2018, when the token reached a value of $0.231673.

We can also see that TRX’s 7-day low was at a value of $0.04828, while its 7-day high was at a value of $0.08142. Here, we can see a difference in the value of $0.03314 or by 68%.

However, as Tron (TRX) is also showcasing solid numbers in terms of its adoption, new wallet addresses, and overall transactions on a weekly basis, we can see that it is bullish in terms of its performance, and this could also translate well to its overall value.

Based on all of this, Tron (TRX), at $0.05852, might be a representation of a solid price point; as if it breaks past the $0.08 price barrier, we could see it reach $0.15 by the end of June.

This article was originally posted on FX Empire

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