Crypto whales are buying massive amounts of TRON as the price is slowly rising | Is $ TRX the next $ ETH?

Urian B., Tech Times June 2, 2021 at 11:06 p.m.

(Photo: Screenshot from Pexels Official Website) Crypto whales buy huge amounts of TRON as the price slowly goes up | Is $ TRX the next $ ETH?

Crypto whales have bought huge amounts of TRON and while the coin is slowly becoming bullish, what is the potential of $ TRX? TRON aside, crypto whales have bought up huge amounts of ETH, and while Ethereum has been bought in the millions, Ethereum has not yet surpassed the $ 3,000 mark.

$ ETH vs $ TRX

While Ethereum had a pretty solid bull run last month, the currency now appears to be a little softer, despite whales repeatedly buying up $ ETH. Millions of worth of ETH have been moved from unknown sources to Binance and vice versa. However, the move in $ ETH had only a minor impact on the price.

When it comes to TRON, the coin isn’t exactly as popular as Bitcoin and Ethereum, but it has done pretty well lately. The coin has a $ ADA or $ XRP like movement in which it is usually slow and steady and when it peaks it doesn’t deviate too far from the average.

TRON chart movement

If you look at the TRON chart, the movement of the coin looks pretty dull without price volatility fluctuating that much. However, this could actually be the reason why crypto whales are investing in the coin.

With the market’s volatility since China’s exit and a number of other reasons being quite unpredictable, investors and traders are now looking for safer coins to at least keep their money and make a decent, constant profit. $ TRX is one of them. If you look at the chart, the coin looks like a “for a long time” coin rather than a tradable coin.

$ TRX Bollinger and RSI

This, of course, depends on the mindset and indicators of the buyer. The coin is not showing any aggressive or volatile moves according to the RSI and Bollingers. While there are entry points, the coin doesn’t function too volatile overall as far as investors and traders are concerned.

For the past week, crypto whales have been buying more and more $ TRX in bulk almost every day. While this didn’t really result in a price pump or bull run, the coin is slowly bullish, rising by single-digit percentages every now and then.

Also read: China’s centralized television talks about Uniswap $ UNI | Could China be selective in cryptocurrencies?

$ TRX price prediction

While Ethereum was considered one of the more stable cryptocurrencies at the time, the properties of $ ETH have changed and the coin looks more tradable than it used to be. The problem with $ ETH that many traders are complaining about is the massive gas fees. Because of this, not many traders trade $ ETH and only those who can afford the pretty wild gas fees.

On the flip side, $ TRX looks good at its price point of $ 0.077, where it peaks at $ 0.079 and drops to the bottom $ 0.07. Of course, it’s pretty hard to tell if the coin will hit the $ 0.1 mark.

Related article: Crypto whales are buying massive amounts of ETH after it was revealed that China’s digital yuan could be built on top of Ethereum

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Posted by Urian B.

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