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Price Analysis

Tron Price Analysis: Trends in the Crypto are Bullish, a New Protocol Document has been Released for TRX Deposit

SUN Network recently released a Dapp chain developer documents which introduced a detailed method of asset deposit including deposit of TRX, TRC10, TRC20, and deposit TRC721.

Current Statistics of Tron:

  • On August 25, at UTC 09:04, Tron (TRX) vs. USD is trading around $0.01818409.
  • Against Bitcoin, the crypto is valued around 0.00000178 BTC per chip.
  • At present, Tron is ranked at 13th position in the Cryptocurrency market.
  • Additionally, the market capitalization of the altcoin is around 1,208,885,443 USD.
  • At the same time, the 24-hour trading volume in the coin is 497,507,872 USD.
  • With a return on investment of 783.81%, a total of 66,682,072,191 TRX chips were circulating in the market at the time of writing.

TRX to USD Comparison:

Tron price chart - Aug 25
Tron Chart By TradingView

Tron opened trading yesterday on a declining note and went down by 4.15% to the level of 0.017514 USD in the early hours. However, a strengthening in the coin soon followed where it hiked by 2.62% and went up to the $0.01787 mark. Nevertheless, in the 2nd half of the previous day, the coin again made a dip of 2.79%. Afterward, it kept hovering at that level with a slide bounce back of 2.07%. Today, in the early hours, however, the coin made a sharp jump toward the green zone which accumulates to 2.7%, and it took the crypto up to the level of 0.018138 USD. Since then, Tron kept moving around that level.

Tron Price Prediction:

As per our analysis, Tron (TRX) might trade around $0.06 by the end of the year. At present, the immediate resistance for the coin is at 0.01831 USD, and the support level is at 0.017417 USD.

Conclusion:

Security of deposited altcoins is a major concern for investors, and by releasing the deposit document, Tron Foundation has tried to look out for the issue. It will surely give some assurance to the TRX investors.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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