Here’s Why Tron (TRX) Price Could Soon Lose Another 10%
TRX, the native token of the Tron blockchain, has been on a downtrend since August 25. It is currently trading at $0.14, down 13% in value.
With the tenth-largest cryptocurrency in the bearish bias, the technical setup suggests that TRX is poised to extend this decline.
Tron Derivatives Traders Avert Their Eyes
The decline in TRX derivatives market activity suggests a clear decline in demand for the altcoin. Open interest, which measures the total number of futures or options contracts that have yet to be settled or closed, has been on a downtrend since hitting a year-high of $191 million on August 21.
As of press time, Tron's open interest stands at $82 million, reflecting a 57% decline since August 21.
