Tron (TRX) price prediction as DeFi TVL rises in its ecosystem

2023-9-13 18:44

Tron price made a strong comeback on Tuesday.

Franklin Resources applied for its own Bitcoin ETF.

Tron’s user statistics are strong as the DeFi TVL soars.

Tron price popped on Tuesday as cryptocurrencies went through a short squeeze. The TRX coin jumped to a high of $0.082, the highest level since July 30th. It has soared by more than 135 from the lowest level in August.

US inflation data ahead

The main catalyst for the TRX price was a decision by Franklin Templeton to file for its spot Bitcoin ETF. It joins other large American companies like Ark Invest, Invesco, and Blackrock. 

It is still unclear whether the SEC will accept these funds even though the companies have put in place strict surveillance clauses to prevent manipulation. Still, analysts believe that the SEC will ultimately accept these funds, thanks to the recent breakthrough by Grayscale Bitcoin Trust.

Franklin Resource’s application is a major one because of how big the fund is. It is one of the biggest companies in the US with over $1.5 trillion in assets under management (AUM). This makes it the 20th company in the industry.

Tron price also jumped as the total value locked (TVL) in its DeFi ecosystem continued rising. The TVL jumped to $5.7 billion, making it the second-biggest player in the sector after Ethereum.

Most dApps in Tron’s ecosystem have added more funds recently. For example, JustLend’s TVL has jumped by more than 7% in the past 7 days while JustStables, Sun, and stUSDT TVL has risen by over 5% in the same period.

Tron remains one of the most active blockchains in the industry. Data by DeFi Llama shows that the number of active users in the ecosystem were over 1.25 million in the past 24 hours. Its revenue in the same period was over $1 million.

The next catalyst for Tron price will be the upcoming US inflation data scheduled for Wednesday. These numbers are expected to show that inflation remained at an elevated level in August.

Tron price prediction

The daily chart shows that the TRX price has been in a strong bullish trend in the past few months. It has formed an ascending channel that is shown in black and has now moved to its middle point. Tron’s volume has been relatively elevated while the price remains above the 50-day moving average.

Therefore, the outlook for Tron is bullish, with the next level to watch being at $0.0851, the highest level on July 28th. The stop-loss of this trade will be at $0.077.

How to buy Tron

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

Buy TRX with eToro today Disclaimer Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy TRX with Binance today

The post Tron (TRX) price prediction as DeFi TVL rises in its ecosystem appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

TRON (TRX) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1171
Капитализация $0 Rank 99999
Цена в час новости $ 0.0811726 (-100%)

tron price tuesday tvl defi user statistics

tron price → Результатов: 126


TRON Price Analysis - Speculation dominates, fundamentals detach

TRX has emerged as a leading short term investment option in alt markets, following a period of strong price movements driven by a series of positive TRON news stories. This momentum may continue with more good news expected for TRON in 2019, however, the lack of network fundamentals being reflected in the value of the TRX token makes genuine price discovery a challenge.

2019-1-23 15:00


Tron Price Analysis: TRX and Tron a Marketing Juggernaut Says Former BitTorrent Executive

Latest Tron News The stage is set for NiTron Summit in progress at the Yerba Buena Center for the Arts at 700 Howard Street, San Francisco. In this two-day event where the guest will be none other than Kobe Bryant, entrepreneurs, investors as well as developers from all over the world with different agendas will […] The post Tron Price Analysis: TRX and Tron a Marketing Juggernaut Says Former BitTorrent Executive appeared first on Ethereum World News.

2019-1-18 15:00