Whales flock to TRX but the risk of volatility still remains.

Since hitting a low of $0.29 a week ago, Tron (TRX) has been trading in an upward channel. During this period, TRX recorded an increase of 7.09%, peaking at $0.355 before making a slight adjustment down to $0.352 at the time of the press.

The Strong Comeback of the "Whales"

Amid rising prices and market recovery, investors, especially "whales", have made an impressive comeback. According to analysis from CryptoQuant, Darkfost noted that USDT transactions worth over $100,000 have dominated Tron’s network activity.

Source: CryptoQuantOn September 13, 86% of the total USDT trading volume on Tron was mainly driven by large transactions. This dominant level often indicates the participation of "whales" or institutional-level trades, something we have only seen once in 2023.

In particular, the strong increase in these large transactions is primarily driven by the recent launch on the Nasdaq, leading to higher interaction from institutions and larger capital inflows into the Tron Network.

Increased on-chain activity

In the context of increased activity from "whales", Tron’s network activity has also recorded a surge, indicating increased participation from all stakeholders. According to data from Dune, the total number of active Tron accounts has risen to 298.6 million, with the active account (30 on date ) reaching 15.5 million.

Source: TradingviewThis increase in the number of active users reflects a growing acceptance and overall network usage. Additionally, the Tron network has recorded significant growth in the number of daily transactions, with the transaction volume rising from 4 million in 2023 to 11.4 million currently, indicating a sustainable network usage rate.

When these two indices rise together, it typically indicates that the performance of Tron is supported by strong usage, a historical factor that often leads to higher values.

Retail investors are also participating

Not only the "whales", the activities of small-scale investors have also seen a significant increase. According to Coinalyze, the native token of Tron, TRX, has experienced sustained buying pressure over the past five days.

Source: CoinalyzeAt the time of writing, Tron recorded $218.89 million in buying volume compared to $153.9 million in selling volume the previous day. This resulted in a Buy-Sell Delta of $64.9 million, a clear sign of strong accumulation from retail investors.

History shows that increased accumulation during price exploration phases often leads to an increase in value for assets.

Prospects of TRX

According to an analysis from Bitcoin Magazine, TRX has benefited significantly from the increased activity of "whales" on the Tron Network. As the "whales" return, TRX has recorded sustainable demand, with buyers dominating the market.

This increase in activity coincides with the recovery of TRX on the price chart, rising from $0.29 to $0.35, reflecting strong demand in the market. At the time of writing, data from TradingView shows strong buying pressure, with the RSI reaching 58, just entering the bullish zone.

Source: TradingviewAt the same time, the Stochastic RSI has risen to 99, indicating an overbought condition. When momentum indicators reach such extreme levels, especially with RSI increasing, it often signals strong upward momentum but also suggests potential volatility in the future.

Mr. Giáo