- TRX Trading Price Indicates A Bullish Trend as it Accounts FOR Massive Users
The Tron’s TRX is the second largest-growing asset today among other cryptocurrencies, this is due to the increase in the number of registered users on the network, at the time of writing, and the platform has over 3.8 million users. Going by the recent tweet from a Tron community member by name @Tronlady, she tweeted, “TRON’s total account has reached 3.8M”
Currently, TRX is holding the 11th position on the CoinMarketCap after dwelling in the 14th position for a long time. The currency can be said to be doing well for its self in the crypto market. Earlier today, Tron started trading as the second best price among the top 11 cryptocurrencies after XRP in the crypto market.
TRON (TRX) Price Today – TRX / USD
Name Price $7,200.55 -5.19% $0.014 -4.93%
The current trading price of TRX is at $0.0165, indicating a slight surge of about 1.75%. Earlier today the coin showed a surge of 4.32%. The platform recently celebrated 500,000 new users joining the network. Justin Sun, the proud founder of Tron recorded another success to the network as it accounted for major progress of users transferring their USDT coins to the Tron Chain, Justin Sun tweeted, “160 million USDT on #TRON. $TRX”
The chief analyst of Etoro, Mati Greenspan commented on the price movement of TRX, he tweeted that the best performing coins among the top 12 assets are the XRP and TRX. This is the period for crypto traders to relax, as the market is bullish, and the price of Bitcoin has retested the $8,000 level.
Bullish Price Recovery of TRX
John McAfee recently confirmed the launching of his own decentralized exchange platform McAfeedex on Tron, this could be an influencing factor on the trading price of TRX. TRX price analysis indicates that TRX is trading at $0.01638919, with a 24-hour trading volume of $674,724,341. The Price is down at -0.6% in the last 24 hours. It has a flowing supply of 66.1 Billion coins and a max supply of 99.3 Billion coins.
TRX has been on price recovery since September 24, an increasing trend line from the recent low of $0.0117 which stood as support and indicates that the coin has the potential to reach new highs. A strong bullish momentum permitted the trading price to settle above the Simple Moving Average (SMA) 50 daily at 0.0157 and hit the recent high of $0.0171. Regardless of the retreat to $0.0166, the coin still maintains its bullish trend with the net focus on a $0.0182 zone with the previous recovery high and the upper line of the daily price trend.