How Did Tron TRX Have 99% of Its Addresses in Profit Amid the Rally?

Among Tron TRX addresses, a 99% profitability rate was achieved, which makes it an outstanding achievement in the ongoing cryptocurrency market rally. This accomplishment makes Tron a top beneficiary of the broader market’s rise, with its price significantly increasing.

TRX/USD 24-hour price chart (source: CoinMarketCap)

Over the last week, TRX has gained 6.4%, the 14-day chart shows a 12.7% increase, and the monthly chart indicates a 21.62%. Concurrently, in the last year, TRX has been up by 90.8%, moving the coin to the 13th place among the largest cryptos by market capitalization and enjoying a market cap of $11.56 billion.

The Profitability Surge of Tron’s TRX

Detailed analysis of the data reveals that a significant increase in the price of Tron resulted in almost all of its holders being in profit. This was derived from analysis by IntoTheBlock’s Global In/Out of the Money, which compares the buy prices of addresses owning TRX to the price of the asset presently. 

Addresses are identified as “In the Money” by the metric when they purchased TRX at a price less than its present value, showing a profit.

In contrast, addresses are “Out of the Money” when they bought TRX at a higher price, indicating a loss. Nevertheless, the data points out that 115.9 million addresses, or 99% of TRX holders, are currently in the green, with only 1% at breakeven, which means no addresses are at a loss.

Tron’s Appeal and Challenges

Tron’s architecture, proof-of-stake, and smart contract functionality decentralized blockchain, introduced by Justin Sun in 2017, makes it popular. Technical breakthroughs notwithstanding, Tron was in the midst of controversy last year. 

It was said to have become the favourite network for illegal payments as a replacement to Bitcoin, especially in the Israel-Hamas conflict scenario. This was attested by the Israel authorities, which locked down 143 Tron wallets associated with terrorist financing, which was a higher figure than the Bitcoin incident.

Justin Sun’s Strategic Moves

Despite these difficulties, Tron is still innovating, with Justin Sun unveiling a Bitcoin Layer 2 solution to improve interoperability between blockchains, speed, and security. This ambitious roadmap looks at integrating TRON with Bitcoin, making it easier for TRON to access of its $55 billion stablecoin market.

The initiative is set out in three phases, focusing on cross-chain technology, strategic collaborations with Bitcoin Layer 2 protocols, and, ultimately, creating a solution that integrates TRON, BTTC, and BTC. This approach aims to scale Bitcoin’s performance and leverage the low fees and fast transactions of Proof-of-Stake systems while maintaining robust security.

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