Tron (TRX) has experienced a slight price increase, reflecting the asset’s affiliated firm’s listing on the Nasdaq exchange within the week. Currently, Tron is bullish, particularly with over 90% of its holders in profit. As per IntoTheBlock data, a massive 86.9 billion TRX are in profit.
90% of Tron holders in profit signals market strength
Notably, this represents 92.83% of its total addresses in profit, signaling strong market performance for the asset. These addresses are worth $427.6 billion in fiat currency, indicating that holders of these addresses are not at a loss.
It is therefore unlikely that the Tron ecosystem will experience significant volatility, as investors may not be looking to dump their holdings on the market. Instead, they are still holding, anticipating further price gains.
Of the remaining addresses, 3.05% or 2.86 billion TRX valued at $908.2 million are “Out Of The Money.” These are the holders who purchased Tron at a price higher than the current market value. The remaining 3.85 billion TRX, or 4.11% of the total addresses, worth $1.22 billion, are “At The Money,” or the breakeven point.
This set of investors will be watching Tron’s price movement to see how they can minimize their losses or take profits. As of this writing, Tron is trading at $0.3180, representing a 1.27% increase over the last 24 hours.
However, trading volume has dipped significantly by 40.41% to $949.19 million within the same time frame.
Tron faces resistance ahead at $0.320
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Tron’s recent debut on the Nasdaq might boost institutional credibility and increase adoption in the coming days. In addition to the listing, Tron has also collaborated with the Kraken exchange in a move that could further boost its credibility in the cryptocurrency space and the broader financial sector.
These developments could positively impact the market price of the asset. However, Tron faces a crucial resistance at $0.320. For the asset to test higher price levels, it must stay above the $0.30 price mark. A breakout could push the price up to $0.45 if it can overcome the resistance at $0.34.