Recent TRX News
Recent TRX news has largely been related to the latest surge seen in the market price of the coin. Ideas on how things will progress from this point are not entirely clear based on buy/sell and daily trade volume, RSI and other technical indicators.
What Is TRX?
TRX is the native cryptocurrency to the TRON decentralized blockchain network, founded by Chinese cryptocurrency entrepreneur and businessman, Justin Sun and ultimately launched in July 2017. The network coin reached an all-time high of $.17 upon initial coin launch, and TRX was able to scrape at the all-time high again in April of 2021 when it reached $.16.
TRON benefitted from a strong supporting community of holders from inception, and was turned over to a completely DAO-controlled community when Justin Sun announced his resignation in December of 2021. The TRON Foundation also dissolved on July 25, 2022, leaving TRON as a completely community-controlled crypto project.
Insights Given By TRX Volume
Tron, just as many other cryptocurrencies throughout 2022, has seen challenges in daily trade volume and price. On June 14 TRX was at a low of $.055, and just a few weeks later, the coin was able to hit a recent high of $.07 on July 9 and July 28. This could at least help boost morale within the TRX holder community, as the network crypto coin struggles to get to the 2022 high of $.088, recorded on May 8.
TRX still attracts a considerable amount of buyers and sellers, as 24 hour volume reached close to $620 million on a single day last week. While well off of its single day trading volume all-time high of $11.9 Billion in 2021, the daily volume had grown in July from the recent slumps documented months prior in the Tron price, as reflected by the rest of the crypto market. July proved to be a positive month for the Tron network as the altcoin charted significant growth that its 16 million plus wallet owners hope continues through August.
What Is The Outlook For The TRX Coin?
Overall sentiment over the near and further future of TRX is mixed to say the least. The network has continued to develop and promote its focus into the widespread implementation of media and entertainment in a decentralized environment. The recent surges, and most up to date TRX news suggest that the rally could continue, but there remains bearish elements in the forecast which should also be considered.
