Tron, the cryptocurrency known for its dynamic price movements, has recently witnessed a significant surge, leading to a remarkable scenario where almost all of its holders find themselves in profit.
Reports indicate that an impressive 99% of Tron addresses, totaling 115.9 million, are currently enjoying substantial profits, with only a minuscule 1.17 million addresses breaking even and none recording losses. This phenomenon mirrors the situation observed with Bitcoin, where a similar scarcity of underwater addresses exists.
This insightful data was gleaned from analysis conducted using IntoTheBlock’s Global In/Out of the Money tool. The tool compares the purchase prices of TRX held in various addresses with the current market price of the asset. Addresses that purchased TRX at prices below its current value are labeled as “In the Money,” denoting profitability. Conversely, addresses that acquired TRX at higher prices are categorized as “Out of the Money,” indicating a potential loss.
The surge in Tron’s price has propelled a vast majority of addresses into profitable territory, with the cryptocurrency reaching a new high not witnessed in nearly two years, hitting $0.1325. Over the past month alone, Tron has recorded a notable gain of 22%, showcasing its resilience and potential for growth in the volatile cryptocurrency market.
This impressive feat underscores the optimism and confidence prevalent among Tron investors as they witness the substantial appreciation in the value of their holdings.
The bullish sentiment surrounding Tron reflects its position as a prominent player in the cryptocurrency landscape, with investors eagerly anticipating further developments and price movements in the days to come.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: slavstan/123RF // Image Effects by Colorcinch
The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…
The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…
In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…
The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…
The launch of $ELIZA, a token introduced by Andreessen Horowitz (a16z) partner @shawmakesmagic, has sparked…
Cardano ($ADA) has been making waves in the crypto market, breaking away from the altcoin…