In the past week, TRON (TRX) has seen significant increases in large transaction volumes and price activity, leading to discussions about a possible altseason.
Significant Surge in TRON Large Transactions
This week, TRON recorded a considerable increase in large transactions, with over 851 million TRX exchanged in the past 24 hours. These transactions, each worth over $100,000, showed a 94% increase from recent lows. The 7-day high in large transactions was 1.95 billion TRX, recorded on July 18.
TRON's Trend towards Independence from Bitcoin
Analysts have pointed out that TRON is no longer moving in lockstep with Bitcoin. While Bitcoin has been trading sideways, TRON has shown stronger price movements since March. This shift is important because, in past bull cycles, Bitcoin’s periods of calm have often been followed by rallies in altcoins.
Possible Formation of a Narrower Altseason
Notably, one difference in the current cycle is the increasing number of altcoins in the market, with reports showing that token supply has surpassed 43 million. This crowded market may lead to a more selective altseason, where only a few tokens perform well. TRON fits this description due to its activity and growing user base.
TRON's metrics, including trading volumes and user activity, signal increasing investor confidence. Observers expect the coming weeks to reveal whether similar trends among other altcoins confirm the formation of an altseason.