The founder of Tron Blockchain, Justin Sun, recently made a groundbreaking announcement that has captured the undivided attention of the entire cryptocurrency market.
Tron (TRX) has now ventured into the realm of the Ethereum blockchain through the innovative BitTorrent bridge. This bridge offers users the seamless capability to transfer their TRX token from the Tron blockchain to the Ethereum Blockchain.
This noteworthy upgrade on the Tron Blockchain has ignited a remarkable surge in price, with Tron experiencing an impressive 10% increase. As a result, Tron has quickly emerged as the standout performer of the day, commanding headlines as the top gainer in the market.
By leveraging this development, TRX users will gain access to a plethora of Ethereum’s decentralized applications (Dapps) and Decentralized finance (DeFi) platforms.
According to data from TronScan, the Tron network achieved a remarkable milestone by reaching a new all-time high in daily transactions, soaring to an impressive $11.47 million.Â
As of the present moment, the value of Tron (TRX) is experiencing a notable increase of 10%, with the current trading price standing at $0.8385. CoinMarketCap reports a significant surge of over 170% in trading volume within the past 24 hours, reaching a substantial figure of $449.7 million.
Tron (TRX) Regains Momentum as Investors Lead the Way
Tron (TRX) is currently approaching the resistance range of $0.083 to $0.090, which coincides with its 52-week low. Despite this, the current price is trading well above the ascending trendline, which serves as a support level for bullish activity.
From a technical standpoint, indicators suggest a positive environment in the Tron market. The Ichimoku Cloud remains positioned below the TRX price, providing support for bullish investors. Additionally, the daily RSI indicator has entered the overbought zone, currently peaking around the 74 range.
Although overall market sentiments appear positive for Tron (TRX), the immediate resistance zone may create some uneasiness among investors.
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