TRON Unfazed By Decreasing Volumes, Tallies $1 Billion In USDT Inflow

Christian Encila

2 years ago

4 mins read

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TRON (TRX) remains in a stagnant phase, refusing to make any kind of momentum for an upward run despite a number of positive developments that, in many cases if not all, should have helped trigger a significant price movement.

Let’s consider this summary:

TRON’s seven-day jump was less than 2%
During the last 30 days, TRX has already lost 12% of its value
Tron blockchain enjoys a significant boost in its stablecoin inflow

Instead, the asset continues to consolidate within a narrow range and is not showing any signs of immediate recovery.

According to the latest information provided by Coingecko, at the time of this writing, TRX is trading at $0.053957.

It only managed to climb by 1.6% during the last week although it is nursing an increase of 6.3% over the last 14 days.

TRON, currently the 17th largest crypto asset in terms of overall valuation with a market cap of $4.97 billion, has already gone down by more than 12% on its month-to-date (MTD) performance.

Not even the news of its mother platform registering a massive stablecoin inflow was enough to make the asset push its price to higher levels.

Tron has seen significant USDT inflows over the past 2 weeks. In total, over $1 Billion of USDT have entered the chain pic.twitter.com/bbB6XRruvi

— DefiLlama.com (@DefiLlama) December 1, 2022

TRON Performs Well In Stablecoin Inflow Last Month

Using Twitter, pseudonymous DeFi Llama shared that the Tron decentralized platform observed an inflow of $1 billion USDT for the past two weeks.

The most notable date during the said time frame was November 18 when the blockchain registered its highest stablecoin inflow. Meanwhile, November 24 and 28 were the other dates when the network experienced spikes in the particular department.

At a quick glance, this development meant that investors are taking action and are showing tremendous trust for the project.

Skeptics, however, were quick to assume that might not have been the case and that Tron founder Justin Sun was behind all of it in his attempt to pump liquidity for TRX.

Nonetheless, this didn’t help Tron’s crypto asset as it continues to struggle in finding its groove to break out of its slump to surge in value.

TRX In Neutral Stance

Basing on the crypto’s four-hour chart, it could be noticed that its Awesome Oscillator (AO) was pegged to be at 0.00045.

Such value is not indicative of a bullish or a bearish movement, therefore it would make sense to say that TRON is currently caught in a neutral momentum.

Source: TradingView

Meanwhile, the Directional Movement Index (DMI) suggests there is a strong directional push that is going in the way of buyers.

However, buyers may not hold their advantage for a long time as indicated by the cryptocurrency’s Average Directional Index (ADI).

As for forecasts for TRX, Coincodex says the asset will experience a slight price decline within the next five days and will change hands at $0.053338 by December 9.

Come January 3, the digital coin will possess a lower trading price of $0.039659.

TRX total market cap at $4.8 billion on the weekend chart | Featured image from Zipmex, Chart: TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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