Trons Q1 report drives captivating rally

Trons Q1 report drives captivating rally

TRX is displaying positive bullish trends with increasing volatility levels, as technical indicators from TradingView show a rise in the asset’s valuation and a 100% increase in trading volume, ahead of the release of Tron’s Q1 report.

Tron (TRX) is performing well for the bulls, and the investment is showing bull flags reports by technical indicators provided by TradingView.

Trading at $0.07826 as of press time, TRX was sitting on a daily gain of 8.2 percent as the investment recorded a 100 percent boost in volume of trading within the same period.

Regardless of the growing valuation, TRX’s volatility levels appear to be increasing as the Bollinger bands used in estimating volatility diverge away from each other, displaying increased volatility levels. 

The relative strength index indicator is likewise moving in over its average line, a good sign of a positive  tendency tendency on TRX, as the MACD indicator likewise now moves high over in the positive region, technically indicating a positive  tendency tendency on the asset. 

Litecoins Impending Halving Could Trigger a 9000% Rally

Tron is sitting at 11 percent for the week as the total cap for the investment stood at $412,092,598 as of press time, with a circulating supply of 90,342,261,289 TRX.

Tron’s Q1 report

The move comes ahead of the release of Tron’s Q1 report. Reports by recent research published by market intelligence company Messari, the 1st 3 months of 2023 saw a boost in the number of transactions on the Tron blockchain tech.

The total market cap of its native crypto token, TRX, increased by approximately 20 percent quarter over quarter.

The  United States Securities and Exchange Commission (SEC) has announced numerous lawsuits against tron tokens.

Still, the network activity has mostly remained unaffected by these developments. The cryptocurrencies  overall quarterly revenue increased to $90.04 Million in Q1 2023, representing an increase of 88 percent when compared to the $47.96 Million it brought in during Q4 2022.


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