The crypto market is once again under pressure from sell-offs, while the activity of large players on the Tron platform is increasing. This article discusses the current situation's details.
Crypto Market Under Pressure
Recent events in the crypto market have been marked by significant sell-offs that began on Saturday and peaked on Sunday. Amid uncertainty in global markets, liquidations on the crypto market reached $1 billion. In just 24 hours, about $627 million was liquidated, adding to the $595 million lost on Saturday.
Tron Whale Activity
Despite the overall decline in the market, the activity of large investors on the Tron platform increased by 145% in the last 24 hours. This indicates that the volume of large transactions amounted to $337.21 million, equivalent to 1.25 billion TRX. Currently, the price of TRX has declined by 1.62% and stands at $0.268.
Upcoming Market Events
This week, an important event will be Federal Reserve Chairman Jerome Powell's testimony to Congress. It is expected that in his speech he will discuss interest rate policy, and traders are eagerly awaiting his comments on potential changes. Additionally, the core personal consumption expenditures price index will be released on Friday, which may provide further indicators about the state of the economy.
The current situation in the crypto market continues to raise concerns among traders and investors. Increased activity by Tron whales may indicate potential changes in trends, but upcoming economic events could significantly impact the market.
