After two weeks of declining values, the cryptocurrency TRX saw significant recovery, reaching $0.35, drawing interest from analysts and investors alike.
TRX Price Recovery
TRX concluded the week on a positive note with an 18% rise in the second week of September. This resurgence followed a steep decline that began in the third week of August. Despite these gains, the price remains significantly distanced from three historical peaks achieved last year.
Whale Activity
Recent analysis indicated a surge in interest from major market players, which could drive TRX price further up. The volume of transactions over $100,000 has doubled, suggesting increased institutional investments. However, it is possible that most of these large transactions relate to stablecoin transfers rather than direct demand for TRX.
Tron Network Performance Analysis
The performance of the Tron network remains interlinked with its activity levels. Unlike peak transaction volumes in June, the last week has shown a decline in market volume down to $718 million. Key metrics such as decentralized exchange trade volume have also decreased. The drop in network fees, reduced by 60%, aims at attracting institutional clients.
The recovery of TRX price after a long decline has captured the attention of both investors and analysts. However, its ongoing stability will depend on the sustained activities of major investors and the overall health of the Tron network.
