Tron (TRX) Realized Profit Tops $1.4B — Who’s Cashing Out?
Main Idea
Tron (TRX) has seen significant profit-taking by investors from the 2020-2021 bull cycle, while also experiencing increased activity and adoption, including surpassing Ethereum in USDT supply.
Key Points
1. Tron's price has ranged between $0.32 and $0.33, with profit-taking by investors from the 2020-2021 bull cycle driving a 24-hour Realized Profit of $1.4 billion on August 5.
2. Tron's 24-hour Realized Profit surpassed Bitcoin's ($665.1 million) and Ethereum's ($337.2 million), with accelerated profit-taking since Saturday.
3. Tron recently surpassed Ethereum in global Tether USD (USDT) supply, hosting over $81 billion USDT and handling about 60% of all USDT transactions.
4. SRM Entertainment adopted TRX in its treasury strategy and rebranded to Tron Inc., highlighting growing adoption of the cryptocurrency.
5. Tron's 24-hour Realized Loss was minimal at $31,600, with the Profit & Loss indicator in Optimism/Anxiety territory and SOPR showing strength.
Description
Over the past few days, the price of Tron (TRX), the native cryptocurrency of the Tron network, has ranged between $0.32 and $0.33; however, investors have been locking in profits. The profit-taking spree has led to TRX recording its second-largest single-day profit event this year. An analysis by the market research firm Glassnode has revealed which cohort of investors is responsible for this development. Who Is Taking Profits? According to Glassnode, the majority of the profit-taking is coming...
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