Data from IntoTheBlock reveals a significant concentration of $TRX holdings among large holders, or whales, who control 56.56% of the total supply, translating to approximately 47.93 billion TRX.
In contrast, smaller investors collectively own just 10.24% of the supply, which amounts to about 8.68 billion TRX. This stark difference highlights the dominance of a few large entities in the $TRX ecosystem, with ownership distribution heavily skewed toward whales.
https://twitter.com/PinnacleCrypt/status/1834219857946313053?t=B8JVtY9zQxvR_TTLxTQ09A&s=19
This concentrated ownership suggests that the actions of a few major holders could have a substantial impact on the token’s market dynamics, potentially driving volatility or influencing the direction of price movements. Meanwhile, smaller investors, despite their relatively smaller holdings, still play an essential role in providing liquidity and fostering community engagement.
TRON Continues With Massive Token Burn Exercise
On the other hand, TRON continues its commitment to deflationary measures, as demonstrated by its recent token burn. On September 12, TRON burned 10,021,351 TRX, signaling its dedication to reducing the overall supply and potentially driving value growth for existing holders. This burn contributed to a net negative production ratio of -4,953,960 TRX, further reinforcing TRON’s efforts to support a deflationary model aimed at boosting the long-term value of $TRX.
#TRON just burned 10,021,351 #TRX on September 12th 🔥 showcasing a commitment to deflation & value growth 🚀 With a net negative production ratio of -4,953,960 🤯 pic.twitter.com/vjSE4wOQJE
— TRON Community (@TronixTrx) September 13, 2024
These actions reflect TRON’s broader strategy of enhancing token scarcity while also maintaining robust community and investor engagement. As whales continue to hold a majority share of the supply, TRON’s deflationary approach could play a crucial role in balancing the market, potentially benefiting both large and small holders in the long run. With ongoing token burns and concentrated ownership, $TRX remains a key player to watch in the crypto space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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