CRYPTO MARKET UPDATE ‼️
The cryptocurrency market is experiencing volatility, with TRON (TRX) recently losing 6% of its value over the past week. However, it has shown a 1% recovery today, indicating potential for growth.
TRON'S PROFITABILITY
According to a report by Bankless, TRON is the most profitable blockchain network, generating $271 million in revenue over the past year. This success is attributed to significant investments in stablecoin activities, with TRON having the second-largest stablecoin activity after Ethereum.
TRX PRICE ANALYSIS
TRX is currently trading at $0.124, balanced between $0.1229 and $0.1271. Maintaining this support is crucial for a strong breakout in the future. TRX's price movement is parallel to Ethereum, which typically follows Bitcoin, indicating potential for future growth.
SHORT AND MEDIUM-TERM EXPECTATIONS
Bitcoin's slow recovery may hinder TRX's short-term breakthrough, but the recovery of Bitcoin and Ethereum from mid-August could help TRX gain positive momentum. Maintaining the current price range is crucial for a strong long-term breakout.
