Tron price rises by 10% as it expands to the Ethereum Blockchain

by Arthur · June 3, 2023

[gpt3]rewrite

The founder of Tron Blockchain, Justin Sun, recently made a groundbreaking announcement that has captured the undivided attention of the entire cryptocurrency market.

#THRONE (#TRX) has now expanded its reach by going live on #Ethereum blockchain by leveraging #BitTorrent bridge. With the contract address 0x50327c6c5a14dcade707abad2e27eb517df87ab5, #TRX is now fully available within the Ethereum ecosystem.

— HE Justin Sun 孙宇晨 (@justinsuntron) 2 June 2023

Tron (TRX) has now ventured into the realm of the Ethereum blockchain through the innovative BitTorrent bridge. This bridge gives users the seamless ability to transfer the TRX token from the Tron blockchain to the Ethereum blockchain.

This remarkable upgrade on the Tron Blockchain has ignited a remarkable price surge, with Tron experiencing an impressive 10% increase. As a result, Tron has quickly emerged as today’s standout performer, making headlines as the top winner in the market.

By leveraging this development, TRX users will gain access to a multitude of Ethereum’s Decentralized Applications (Dapps) and Decentralized Finance (DeFi) platforms.

According to data from TronScan, the Tron network achieved a notable milestone by reaching a new all-time high in daily transactions, rising to an impressive $11.47 million.

Currently, the value of Tron (TRX) is experiencing a remarkable increase of 10%, with the current trading price of $0.8385. CoinMarketCap reports a significant increase of over 170% in trading volume in the last 24 hours, reaching a significant figure of $449.7 million.

Tron (TRX) regains momentum as investors lead the way

Tron (TRX) is currently nearing the $0.083 to $0.090 resistance area, which coincides with its 52-week low. Despite this, the current price is trading well above the rising trend line, which acts as a support level for bullish activity.

From a technical point of view, indicators point to a positive environment in the Tron market. Ichimoku Cloud remains positioned below the TRX price, providing support to bullish investors. In addition, the daily RSI indicator has entered the overbought zone, reaching a peak around the 74 area.

Although general market sentiment seems positive for Tron (TRX), the immediate resistance zone may cause some unease among investors.