Tron (TRX) is in the spotlight due to a significant increase in whale activity, despite a broader downturn in the cryptocurrency market.
Increase in Whale Transactions
According to on-chain data, the volume of large TRX transactions (typically defined as transfers over $100,000) increased almost tenfold in just 24 hours, reaching $598.96 million. This corresponds to a 973.2% surge in whale activity over the same period.
Recent Developments in the Tron Project
Amid the spike in whale activity, reports emerged that Tron is planning to go public via a reverse merger with SRM Entertainment, giving investors indirect exposure to the blockchain that powers more than half of USDT and 30% of global stablecoin activity.
Future Prospects for Tron
Tron shows resilience, trading at $0.2775, despite market declines. If a breakout occurs, resistance levels may reach $0.45.
The current activity in the Tron market and its recent developments underscore its significance within the cryptocurrency ecosystem. The increase in whale activity and plans for a public offering could influence the project's future.
