TRON (TRX) Price Surges: Further Rally Likely?

TRON (TRX) Price Surges: Further Rally Likely? Editors News
  • Justin Sun led Huobi crypto exchange has rebranded itself as HTX.
  • TRX has lately pushed over $0.082 after finding support at $0.073.

Throughout most of 2023, Justin Sun’s TRON blockchain has been doing well. The astounding uptick in transaction activity for a project that just debuted six years ago demonstrates the growing natural demand for the TRX cryptocurrency.

Tron’s quick growth over a short period of time is reflected in the fact that it can perform an astounding average of over 4.8 million transactions per day, according to statistics from a recent Nansen analysis. On the other hand, Justin Sun led Huobi crypto exchange has decided to rebrand itself as HTX in a surprising move to commemorate the company’s tenth anniversary. Huobi made the announcement of the rebranding on September 13.

Before making the news public, Huobi modified its social media pages to reflect the shift. The new Twitter account for the exchange and the official Telegram group have both been published. Users on social media were quick to point out that Huobi’s new name was too close to that of the defunct FTX exchange.

Bulls in Control

The TRX price has increased by 1.16 percent in the previous 24 hours and is presently trading at $0.084 as per data from CMC. Moreover, it’s up over 10% in the last 30 days. The preceding 24 hours have seen unusually strong trade activity, totaling $196.47 million, which may explain this price increase.

The coin has lately pushed over $0.082 after finding support at $0.073. If it manages to stay over $0.082 for a prolonged period then it will likely rally further. A drop below this level will likely take the price down to $0.080.

A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.

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