Tron Accumulates TRX, Price Pops As Justin Sun Weighs In

Source Newsbtc

Tron’s blockchain operator has been adding to its stash of TRX and that activity is getting attention. Reports say the platform recently bought 179,408 TRX at an average cost of $0.28, lifting its treasury to about 680 million tokens.

The buy was one more in a series of purchases that show a clear pattern: steady accumulation over several days.

Tron Increases Treasury Holdings

According to on-chain records, the platform purchased tokens at slightly different prices across recent days. On February 7, it bought more than 184,000 TRX at $0.27 a piece.

On February 8, another 181,000+ TRX were added at $0.28. The most recent move of 179,400 TRX followed those buys.

These are not one-off trades. They read as deliberate, repeated steps to build a reserve of native tokens over time.

Tron’s founder, Justin Sun, posted a short message that read “Keep Going.” That simple line was taken by some traders as a vote of confidence.

Reports note Sun’s public backing came while his legal fight with regulators remains on pause, and that political voices have criticized the pause.

TRX Sees A Small Bounce, Volume Falls

Market moves have been modest. The token is trading near $0.27, up about 0.75% from earlier in the day. Still, TRX has slipped 1.5% over the past week and 6% in the last month.

Trading activity has cooled; 24-hour volume fell by 20% to roughly $520 million. That lower volume suggests fewer hands are moving funds, which can make any price uptick look fragile.

What The Buying Might Mean

Large-scale accumulation by a project is usually read two ways. For followers, it can be a sign the team expects future value or wants to support liquidity. For skeptics, it can also look like internal reshuffling or an effort to control supply dynamics.

The repeated purchases at nearby price points point to a steady plan rather than panic buys, but steady plans don’t guarantee price rebounds when broader market sentiment is soft.

Reports say Tron intends to keep buying. If that continues over the next 10 days or longer, the treasury will grow and the narrative around its reserve will strengthen.

Yet the wider market’s mood and regulatory pressure will probably matter more for TRX’s path than a handful of buys.

Investors watching the token should note the low turnover and the modest nature of the price rise; both hint that stronger momentum has not yet arrived.

Featured image from Yellow.com, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
Bitcoin options open interest hits $74.1B, topping futures volume for the first time: CheckonchainBitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
Author  Mitrade
Jan 20, Tue
Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
placeholder
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Author  FXStreet
Feb 05, Thu
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
placeholder
Bitcoin Surrenders $65,000 as Analysts Warn of ‘Structural’ Market BreakBitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
Author  Mitrade
Feb 06, Fri
Bitcoin plunges 11% to break $65k as analysts term the crash "structural," citing a $1 trillion market wipeout and $2.09 billion in daily liquidations.
placeholder
Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports. 
Author  FXStreet
6 hours ago
Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports. 
goTop
quote