TRX rallies 10% as Tron founder Justin Sun celebrates key adoption milestone
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Tron (TRX) recorded bullish price actions over the weekend, gaining more than 10% to today’s peak of $0.2590.
The project’s founder ignited the rally with his latest X post celebrating a key breakthrough for the blockchain.
Sun highlighted Tron’s massive growth, with accounts topping 300 million users globally.
While slightly below Ethereum’s 322 million public addresses, the achievement has shifted attention to TRX’s price performance.
Crypto analyst JAVON MARKS expects extended rallies for TRX, eyeing “the logarithmic-measured movement breakout” toward the $1.11 target.
That would mean an approximately 330% surge from the alt’s current values.
Tron’s remarkable growth
Besides the over 300 million user milestone, Justin Sun stated that Tron’s total value locked in staking and the DeFi ecosystem approach record peaks.
The metric hovers beneath $20 billion. Further, on-chain transfer volume has surged to $17 trillion.
That indicates intensified trader activity and renewed interest in the blockchain.
The post enhanced TRX’s sentiments and propelled the alt from Friday’s low of $0.2345 to today’s high at $0.2590.
The altcoin exhibits amplified optimism, with none of its investors experiencing losses at current prices.
IntoTheBlock data shows 97% of Tron holders at “In The Money,” with 3% at break-even.
The ecosystem’s profitability could attract more developers and traders looking for greener pastures.
TRX price outlook
Tron changes hands at $0.2585 after gaining more than 5% in the past 24 hours.
The 65% daily trading volume uptick highlights robust investor interest in Tron.
Such sentiments suggest continued uptrends for the alt, matching analysts’ forecasts.
JAVON MARKS highlighted TRX’s latest breakout, which hints at explosive rallies toward the $1.11 peak.
The chart shows Tron maintained its price movements inside a triangle pattern for a prolonged period.
The pattern supports breakouts after accumulation.
The altcoin has broken out of the triangle setup, and a confirmation will trigger the anticipated 330% rally to $1.11.
However, bulls should hold beyond the breakout level to support such a move.
Sudden bearishness will plunge TRX into the triangle formation and delay the surge.
Also, the massive number of investors at a profit threatens the alt’s upside.
The individuals might decide to sell to enjoy their returns, translating to selling pressure.
Moreover, broad market developments will influence TRX’s long-term performance.
The alt requires broad-based rallies to attain its upside target.
Cryptocurrencies have displayed stability since Donald Trump announced a 90-day tariff pause.
Bitcoin gained 11% in the past week after soaring from the $75K lows to $84K at press time.
The leading crypto value needs a decisive closing beyond $90K for solid uptrends.
Such a move could encourage bulls to fight for a $100K reclamation, supporting massive rallies for altcoins, including TRX.
The post TRX rallies 10% as Tron founder Justin Sun celebrates key adoption milestone appeared first on Invezz
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