TRON PA is a thing of beautyTRON's PA is a thing of beauty. The HLs in HTF on the ascending triangle are aesthetically perfect. Price has been on the rise for a little less than two years. Sooner or later the god candles will print out.
Justinsun
Justin Sun’s Vision and the Growth of Tron’s Memecoin EcosystemJustin Sun, the visionary behind Tron, is sparking fresh excitement in the memecoin arena with his strategic moves and groundbreaking developments on the network. With the recent launch of SunPump, a platform designed to bolster memecoin creation on Tron, Sun is preparing for a “second wave” of memecoin growth, backed by continuous development, strategic community involvement, and robust ethical standards.
A New Era for Tron’s Memecoins
Sun believes the next growth cycle for Tron’s memecoins is imminent. He’s actively promoting a community-driven approach, which he feels is key to sparking fresh investment and driving adoption. The memecoin wave aligns with the overall growth of Tron’s native token, AMEX:TRX , which experienced a 24% boost in market capitalization in Q3 2024 alone—from $11 billion to $13.5 billion. Tron’s commitment to memecoin culture is part of a larger push to position AMEX:TRX among the top 10 cryptocurrencies, where it currently stands close behind giants like XRP and Dogecoin.
Technical Outlook: TRX’s Rising Deflationary Mechanism
One significant factor driving TRX’s recent performance is its robust deflationary model. With a capped total supply of 100 billion tokens, TRX's circulating supply dropped from 87.2 billion to 86.62 billion in Q3, thanks to an intensified burn schedule that increased its annual deflation rate to -2.7% from -2.4%. This steady reduction in circulating supply is a powerful mechanism that can potentially support higher valuations by restricting token availability.
In August alone, Tron ( AMEX:TRX ) witnessed its largest-ever single-day burn on the SunPump platform, where 270 million AMEX:TRX tokens, valued at $42 million, were removed from circulation. This burn policy has helped sustain positive price momentum for AMEX:TRX , contributing to a 1.83% increase, currently hovering at $0.17. TRX’s pairing with BTC has also gained traction, with a notable 25% increase driven by the popularity of SunPump and heightened USDT transactions on the Tron network.
SunPump’s Impact on the Tron Ecosystem
SunPump’s launch marks a bold step into the world of memecoins, with SunPump acting as both a “meme fair” and a streamlined platform for creating new meme tokens on Tron’s blockchain. This initiative aims to simplify the process of memecoin creation, making it accessible to developers and investors who wish to engage with this growing market sector. SunPump has already made a splash, inspiring tokens like $SUNDOG and $TRONBULL, which rapidly gained popularity and captured the attention of the wider crypto community.
Ethical Guidelines for AI Memecoins
In a nod to Asimov’s Three Laws of Robotics, Sun has crafted “The Asimov Three Laws of AI Meme Coin Ethics” to ensure a fair and ethical framework for AI-driven memecoin projects on Tron. These rules emphasize that AI should avoid self-serving activities, prioritize human interests, and maintain the integrity of its own projects without harming others. Sun’s adaptation of Asimov’s principles for AI highlights Tron’s dedication to responsible innovation within the memecoin space, promoting a sustainable approach for this rapidly growing digital landscape.
Technical Indicators
The technical analysis for AMEX:TRX shows an optimistic outlook as the token attempts to break out of a short-term falling wedge pattern, a typically bullish indicator. Currently, AMEX:TRX has an RSI of 66, which places it in a favorable position to sustain upward momentum as it consolidates at a key support level. With Total Value Locked (TVL) in Tron reaching $7.164 billion and stablecoins pegged to the Tron network boasting a market cap of $60.34 billion, the Tron ecosystem is well-capitalized and primed for future growth.
Conclusion
As Tron cements its role in the memecoin space with SunPump, it has positioned itself as a blockchain with both strong technical fundamentals and a vibrant community. With TRX showing consistent growth, driven by strategic deflationary measures and a surging TVL, Tron’s prospects for continued expansion in the memecoin market look bright. Sun’s ethical guidelines for AI-driven memecoins also underscore Tron’s commitment to innovation with responsibility, making Tron a pioneering force in the memecoin space poised for the next wave of growth.
SUN/USDT Breakout Alert: Ready for 200-300% Gain!!Hey everyone!
If you're enjoying this analysis, please give it a thumbs up and follow!
SUN is showing strong potential! It has broken out of a bull flag structure on the daily time frame and is holding above the flag, signaling a bullish move. Buy now and accumulate more on dips for maximum gains!
Entry range: CMP and accumulate up to $0.0185
Target: 200-300% potential upside
Stop Loss (SL): $0.0158
What do you think of SUN's current price action? Are you spotting a bullish setup? Share your thoughts and analysis in the comments below!
TRX Tron Elliott Wave RetracementsIf you haven`t sold TRX before the previous retracement:
Now according to the widely-followed Elliott Wave theory, the potential retracement targets for Tron are $0.14, $0.13, and $0.115.
I anticipate Tron will reach $0.115, driven by the legal issues surrounding its founder, Justin Sun, which are expected to escalate this year.
SUN/USDT: READY FOR A 100% MOVE!!Hey everyone!
If you're enjoying this analysis, a thumbs up and follow would be greatly appreciated!
SUN/USDT looks good here. It breaks out from the symmetrical triangle in a 4-hour time frame and is currently, being it. Buy some here and add more in the dip.
Entry range:- $0.025-$0.027
Target:- 80-100%
SL:- $0.024
What are your thoughts on SUN's current price action? Do you see a bullish pattern? Share your analysis in the comments below!
WARNING : Wrapped Bitcoin $WBTC Will Be DEPEGGED on October 8th!**** BINANCE:WBTC WILL BE DEPEGGED ON OCTOBER 8TH ****
BitGo has entered into a controversial partnership with Justin Sun. Anything Justin Sun has touched, has gone to ZERO. On October 8th, Justin Sun will have control/custody over Wrapped Bitcoin. When Justin Sun took over Huobi BTC, it depegged immediately. The same thing will happen to Wrapped Bitcoin on October 8th. If you have BINANCE:WBTC , you have a very limited time window to take a measure and protect your capital. BINANCE:WBTC will not be 1:1 backed by BTC starting October 8th.
TRON’s $4 Billion Ambition: Justin Sun’s Bold Bet on Meme CoinsIn a move that could redefine the trajectory of the TRON network, Justin Sun, the founder and CEO of TRON ( BINANCE:TRXUSDT ), has forecasted an ambitious revenue target of $4 billion for the coming year. This projection, if realized, would be a landmark achievement for the blockchain platform, driven by a strategic pivot towards meme coins and adjustments to network fees.
The $4 Billion Revenue Peak
Justin Sun’s bold prediction isn’t just a number plucked out of thin air. The $4 billion target is rooted in a comprehensive strategy that leverages TRON’s strengths while embracing the growing influence of meme coins in the cryptocurrency market. Sun anticipates that $3 billion in revenue is a conservative estimate, with the potential to exceed $4 billion through network optimizations and community-driven initiatives.
Sun has laid out a plan where $1 billion of this revenue will be ‘burned’—a practice that effectively reduces the supply of CRYPTOCAP:TRX , potentially increasing its value. The remaining $2 billion is earmarked for stakers and to cover transaction fees, creating a more attractive ecosystem for users and investors alike.
The Meme Strategy: A New Frontier
Central to Sun’s revenue forecast is TRON’s renewed focus on meme coins—a category of cryptocurrency that has gained significant traction in recent years. Sun believes that the community-driven nature of meme coins aligns well with the decentralized ethos of TRON ( BINANCE:TRXUSDT ), making it a strategic growth area.
The launch of SunPump, a meme token launchpad on the TRON network, is a testament to this strategy. Despite being just 11 days old, SunPump has already generated over $1.1 million in sales, indicating strong market interest and potential for further growth.
Network Adjustments: Lower Fees, Higher Capacity
To support this ambitious growth, Sun has proposed lowering transaction fees and raising the energy limit on the TRON network. These adjustments are expected to increase daily transactions to over 20 million within three months, significantly boosting TRON’s market share.
By increasing the network’s energy capacity, more TRX tokens will be staked, enabling free transfers and enhancing the network’s overall profitability. These measures are designed to make TRON a more attractive platform for developers and users, fostering long-term growth.
TRON’s Integration with Dex Screener
In addition to its meme coin strategy, TRON ( BINANCE:TRXUSDT ) has recently achieved a significant milestone with its integration into Dex Screener, a leading decentralized exchange tracking service. This listing is expected to enhance TRON’s visibility in the decentralized finance (DeFi) space, attracting more users and liquidity to the network.
The integration with Dex Screener is seen as a critical step in TRON’s broader strategy to expand its ecosystem and capitalize on the growing DeFi market. Coupled with the recent minting of one billion USDT tokens on the TRON network by Tether, TRON’s liquidity and market presence are set to strengthen further.
TRX Price Forecast: Bullish Trends with Caution
As of the latest market analysis, CRYPTOCAP:TRX , the native cryptocurrency of the TRON network, is trading at $0.1572 down by 2.54%. Despite a minor correction, TRX is showing signs of a bullish trend, with the potential to reach $0.20 in the near term. If this momentum continues, CRYPTOCAP:TRX could even achieve a new all-time high of $0.50.
However, the market is not without risks. In a bearish scenario, TRX could stabilize around $0.14, with the possibility of further declines to approximately $0.135 if negative trends persist.
Conclusion: A High-Stakes Gamble
Justin Sun’s $4 billion revenue forecast and strategic pivot towards meme coins represent a high-stakes gamble for TRON. While the potential rewards are significant, the path to success is fraught with challenges. However, with Sun’s track record of bold moves and the network’s growing ecosystem, TRON could very well be on the cusp of a new era of growth and innovation.
As the crypto market continues to evolve, TRON’s ability to adapt and capitalize on emerging trends will determine whether Sun’s ambitious vision becomes a reality. For now, all eyes are on TRON as it navigates this exciting yet uncertain future.
TRX Tron Consolidation AreaIf you haven't sold TRX when the retracement started:
Now, I think we are going to see TRX Tron trading in the consolidation area, between $0.10 and $0.12 for the next week or so.
TRX Tron Potential Retracement SoonUsing the Fibonacci Retracement tool, I believe there will be a new buy opportunity in the $0.10 - $0.11 range for TRX Tron!
#TRON testing the breakout levelThis coin and ecosystem still has life as show in in the charts.
Even if its just a network to move dollars around in SE asia
That's a good enough usecase , considering the size of the population in that part of the world.
Therefore the gas token #TRX would very much be needed.
and positive price actions, sparks speculative juices which feed on the price.
TRON Burns 9.9 Million TRX Tokens TRON ( CRYPTOCAP:TRX ) executed a substantial token-burning event on February 14th. The initiative saw the elimination of 9.9 million CRYPTOCAP:TRX tokens from circulation. This decision aligns with TRON’s commitment to implementing deflationary measures and fostering value growth within its ecosystem.
The token burning event has already shown tremendous impacts on CRYPTOCAP:TRX price and market dynamics. Following the burn, CRYPTOCAP:TRX experienced a noticeable shift in price, reflecting investor sentiments towards the scarcity of $TRX. This move concurs TRON’s proactive approach to managing its token supply and enhancing the overall value proposition for its stakeholders.
TRON’s current market data reveals its standing within the cryptocurrency landscape. At the time of analysis, CRYPTOCAP:TRX is trading at a price of $0.13131 with a market cap of $11,460,558,876. The 24-hour trading volume stands at $335,101,295, showcasing significant market activity. With a circulating supply of 88,066,863,814 CRYPTOCAP:TRX and a total supply matching that figure, TRON exhibits stability in its token distribution.
TRON’s recent initiatives, particularly the token burning event, reflect a strategic approach towards managing its token economics. By reducing the circulating supply, TRON aims to create scarcity and rigorously drive up the value of $TRX. However, the long-term implications of such measures remain to be seen, as they depend on various factors including market sentiment and adoption. In terms of its position in the cryptocurrency market, TRON holds a noteworthy ranking, currently standing at number 12 in terms of market cap according to Coinmarket Cap.
Technical Analysis
CRYPTOCAP:TRX has been in an ascending trend. This February 2024, the asset has risen by 15%, reaching a new annual high beyond the $0.131 mark. It's currently difficult to pinpoint any resistance level capable of curtailing this robust buyer momentum.
The market might first respond to sellers around the $0.133 and $0.136 levels. Nevertheless, without unexpected negative developments, these thresholds are also at risk of being swiftly surpassed, thus becoming irrelevant. Therefore, engaging in short positions for this asset is generally discouraged.
If CRYPTOCAP:TRX undergoes a correction, the zones at $0.121–$0.124 and $0.117–$0.120 are seen as potential areas for buyer orders, making them suitable entry points for long positions. A shift to a downward trend could only realistically occur if Bitcoin falls below $44,500 eventually.
Justin Sun's $50M HT Token BurnEvery move by influential figures can send ripples through the market. Justin Sun, renowned for his strategic maneuvers, recently set tongues wagging with a bold announcement: a staggering $50 million worth of SEED_ALEXDRAYM_BIGMAC:HT tokens have been consigned to the flames in a calculated token burn. This calculated step has effectively slashed the total supply of SEED_ALEXDRAYM_BIGMAC:HT tokens, leaving a leaner 110 million in circulation.
Sun's decision to wield the torch of token burn isn't merely a spur-of-the-moment gesture; it's a meticulously plotted move within his grand scheme to recalibrate the supply-demand balance of SEED_ALEXDRAYM_BIGMAC:HT tokens. With a reduced supply, Sun aims to sow the seeds of scarcity, potentially stoking the flames of SEED_ALEXDRAYM_BIGMAC:HT token value. This strategic dance aligns seamlessly with his relentless quest to optimize the performance and market standing of his cryptocurrency ventures.
As one of the most influential players in the cryptocurrency arena, Sun's actions resonate far and wide, leaving an indelible mark on investor sentiment and market trends. The aftermath of this token burn is poised to trigger a whirlwind of speculation and scrutiny from investors, traders, and enthusiasts alike, all eager to decipher its implications for the SEED_ALEXDRAYM_BIGMAC:HT token ecosystem and the broader cryptocurrency landscape.
In the wake of Justin Sun's incendiary move, fervent discussions have erupted within the cryptocurrency community, with analysts donning their prognosticator hats to forecast the long-term trajectory of SEED_ALEXDRAYM_BIGMAC:HT token value and utility.
Many seasoned observers posit that the diminished token supply resulting from the burn could herald a new era of scarcity. With a dwindling pool of SEED_ALEXDRAYM_BIGMAC:HT tokens up for grabs, the immutable law of supply and demand suggests that the value of each token could ascend over time. This uptick in value might allure investors seeking a hedge against inflation or simply a potential windfall in the form of capital appreciation.
But the ramifications of this token burn extend beyond mere price dynamics; they permeate the very fabric of SEED_ALEXDRAYM_BIGMAC:HT token utility and ecosystem. As the supply dwindles, the relative scarcity of SEED_ALEXDRAYM_BIGMAC:HT tokens could serve as a catalyst for heightened adoption and utilization, particularly within decentralized finance (DeFi) arenas or other platforms leveraging SEED_ALEXDRAYM_BIGMAC:HT tokens for a plethora of functions.
Amidst the cacophony of reactions reverberating across the cryptocurrency community, a kaleidoscope of sentiments emerges. Some investors embrace an aura of optimism, viewing the reduction in SEED_ALEXDRAYM_BIGMAC:HT token supply as a harbinger of potential price appreciation in the long haul. Others tread cautiously, cognizant of the nuanced interplay between market forces and the whims of cryptocurrency moguls like Justin Sun.
As the dust settles and the cryptocurrency community braces for the next chapter in Justin Sun's saga, one thing remains abundantly clear: the fervent dialogue sparked by this token burn underscores the ever-evolving nature of the cryptocurrency landscape, where every move is scrutinized, dissected, and met with a symphony of reactions. In this arena of volatility and opportunity, Justin Sun's $50 million SEED_ALEXDRAYM_BIGMAC:HT token burn stands as a testament to the enduring allure and intrigue of cryptocurrency markets.
Could TRON #TRX 6X v #BITCOIN TRXBTC
has very good market structure
(higher high's , higher lows's)
for the past 3 years.
Overlooked , & under-appreciated it seems like, in my view on it's sentiment on Justin's success of network adoption.
We can see a clear Inverse head and shoulders
with a very key neckline level
that if broken with strength
could a indicate a run at the LOG target.
A disappointing TRX may only reach the linear target and not much beyond.
My TRXUSD chart which I am watching also does point to a stellar Bull market for TRX
Robinhood's $SHIB Purchase Send Shockwaves Through Crypto MarketPopular American exchange Robinhood has made a bold move by acquiring a staggering 202 billion Shiba Inu ( CRYPTOCAP:SHIB ) tokens in less than 24 hours. This unprecedented buying spree positions Robinhood as the fourth largest custodian of Shiba Inu, trailing behind Binance, Crypto.com, and the mysterious black hole wallet associated with the original Shiba Inu project. The move has not only caught the attention of the crypto community but has also sparked discussions about the potential implications for Shiba Inu's future and the broader cryptocurrency market.
Robinhood's Growing Influence:
The acquisition by Robinhood now means that the platform holds approximately 2% of SHIB's circulating supply. This significant ownership stake raises questions about Robinhood's strategic vision for Shiba Inu and its potential impact on the token's market dynamics. The move is particularly noteworthy as it comes amidst a period of price stagnation for CRYPTOCAP:SHIB , with the token slipping below 1% following a week-long correction in the overall crypto market.
Vitalik Buterin's Legacy and CRYPTOCAP:SHIB 's Circulating Supply:
It's crucial to revisit the project's history, especially Vitalik Buterin's use of the dead wallet address to burn $6.7 billion in Shiba Inu tokens nearly three years ago. This altruistic act, which removed approximately half of CRYPTOCAP:SHIB 's supply from circulation, still resonates on the blockchain, constituting 41.04% of the total supply. The current ownership dynamics, with Robinhood emerging as a major custodian, adds a new layer to Shiba Inu's evolving narrative.
Crypto Whales in Action:
The article further explores other notable transactions within the Shiba Inu ecosystem, shedding light on the actions of crypto entrepreneur Justin Sun. SpotOnChain, a blockchain whale-watching agency, reveals Sun's recent move to cash out 79.334 billion CRYPTOCAP:SHIB tokens from Binance to a decentralized wallet on-chain. This follows his substantial withdrawal of 500 billion CRYPTOCAP:SHIB coins just last month, indicating an intriguing accumulation phase for the crypto billionaire.
Market Reversal and Long-Term Investment Potential:
As the crypto community closely monitors these whale movements, there's a recognition that such actions often precede price trend reversals. Additionally, the article underscores the significance of these moves in assessing the long-term investment potential of Shiba Inu. While some crypto whales accumulate CRYPTOCAP:SHIB in response to positive developments like the acceptance of Bitcoin exchange-traded funds (ETFs), it's essential to note the current negative correlation between Shiba Inu and Bitcoin prices, as highlighted by blockchain data analysis platform IntoTheBlock.
Conclusion:
Robinhood's substantial acquisition of Shiba Inu tokens has injected fresh energy into the Shiba Inu ecosystem, prompting speculation and discussions within the crypto community. The article dives into the historical context, market dynamics, and the actions of key players like Justin Sun, providing readers with a comprehensive understanding of the current state of Shiba Inu and its potential trajectory in the ever-evolving cryptocurrency landscape.
Signal again in high & low(TRX)❤️❤️Thanks for boosting 🚀 and supporting us!
📊 (Entry) : 0.10233(buy)- 0.10832(sell)
🔴 Stop Loss : 0.1(buy)- 0.11035(sell)
🎯 Take Profit : TP-1 = 0.10357 (TP-2 in entry reverse position)
🔗 For more communication with us, In the footnote and send a message in TradingView.
👨🎓 Experience and Education: Our trading team has five years of experience in financial markets, especially cryptocurrencies.
SUN/USDT 1D. Main trend. Secondary. Local. All main details.Coin Sun. This is an altcoin from the TRX ecosystem. Other coins in this ecosystem are: NFT, JST, BTTC(BTT), TRX.
On the backstage of XRP rise(China money partly) TRX class of assets also look very interesting.
In this idea i'll share my view on SUN from TRX group of assets.
From the beginning of the trading history coin has been dumping, which is basic for almost every altcoin.
After reaching certain prices trend reversed and broke the main downtrend.
After that the retest followed and that was also the moment of the beginning of big diamond forming.
I remind you that diamond is a reversal of the trend pattern, also consider the timeframe it's forming on(the bigger the TF the stronger the formation).
This diamond is forming already for something about 400 days.
Local and midterm trends are shown on the chart. Also consider the volume spring shown, which means that there's a potential for big impulse soon.
Local targets and zones are shown on the chart.
Capitalization of this coin is 55m$ as for the moment of writing. So there's quite a potential of 10x on the high of the trend. This will be 666 zone...
Tron ($TRX) Exhibiting Strong Growth Potential
TRX buyers have been quite active, causing the cryptocurrency to test the resistance zone of $0.110-$0.113 on three occasions since November 8, as it tries to break through this range and set a new yearly high.
Currently, there's a noticeable reduction in TRX's volatility, making it likely to see short-term trading within a flat range, specifically between support levels of $0.100 and $0.106. The potential for the TRX growth still exists as long as BTC remains trading above the $31,000 threshold.
A correction in TRX's trajectory is not expected to lead to significantly negative outcomes. If there is a decline, Tron might retest the support levels at $0.095-$0.097, $0.0935, and $0.0885-$0.0905. Given its robust upward trend, TRX is viewed as a viable addition to portfolios, particularly during periods of BTC correction.
NFT/USDT 1D. Secondary trend. Wedge. APENFT. Justin Sun.NFT/USDT 1D. Secondary trend chart.
In the secondary trend we can observe the falling wedge forming.
In this wedge we've seen couple local downtrends forming, which are shown on the chart here.
Another such local downtrendline(red on chart) has been formed on broken above. As for now the price is in the consolidation and is moving in the small range between the levels 0.0...31 and 0.0000..88.
There's potential double bottom forming. The base of it is 14%(balance).
Notice that this is TRX's groups of tokens. I.e. Justin Sun's one. This coins like to sometimes move against the market.
The potentials above and below are shown on the chart.
It's quite likely we ain't gonna see really big move quite soon. Only local movements probably, but when the time comes it can move pretty huge.
Also notice that as the price drops(if it happens) - the targets are also obviously moving with the price. But with the time goes by, i think that in a half year - year there's a big probability of this falling wedge targets working out.
Notice also that there's some insignificant volume increase recently.
TRX founder Justin Sun 17 days to respond to US District Court If you haven`t sold TRX here:
Justin Sun, the CEO and founder of Tron, has been served a summons by the U.S. District Court and is required to respond within 17 days to the United States Securities and Exchange Commission's (U.S. SEC) lawsuit against him for alleged fraudulent crypto trading activity.
The Southern District of New York has given Sun a deadline to reply to the complaint, and the SEC has sent the summons to both his residential and office addresses. Failure to respond may result in a judgement against Sun in favor of the plaintiff.
I expect a major selloff before the expiration date.
looking forward to read your opinion about it.
TRX Tron Double TopThe Double Top and Double Bottom are some of the most obvious and reliable chart patterns in technical analysis, especially for financial instruments that don't trade based on fundamentals, such as TRX Tron.
If it were based on fundamentals, TRX should have been traded much lower by now, considering Justin Sun is being sued by the SEC (Securities and Exchange Commission).
However, that's not the case.
In fact, for crypto technical analysis, which focuses on human behavior in the candlestick charts, it works better than fundamental analysis, which often involves FUD (fear, uncertainty, and doubt) or FOMO (fear of missing out).
According to the Double Top chart pattern, my short-term price target for TRX Tron is $0.054.
I look forward to reading your opinion about it!
TRX Tron Double Top Chart PatternTRX Tron has formed one of the most obvious and bearish chart pattern out there: the Double Top.
The double top chart pattern is a bearish reversal pattern that is commonly observed in technical analysis of financial markets. This pattern typically forms after an extended uptrend, indicating that the market may be losing momentum and could potentially reverse its direction.
The pattern is characterized by two distinct peaks that are formed at approximately the same price level, separated by a period of consolidation or retracement in between. The two peaks are often referred to as the "left shoulder" and the "right shoulder," while the period of consolidation in between is referred to as the "neckline."
Once the second peak is formed and the price breaks below the neckline, it is considered a confirmation of the double top pattern. This break below the neckline indicates that the buyers are no longer able to push the price higher, and the sellers may have regained control of the market.
The Price Target of this pattern for TRX Tron on this particular pattern is $0.054!
Looking forward to read your opinion about it!
Tron TRX Price Targets after the FOMC meeting this weekThe upcoming FED meeting on May 3rd could cause a further decline in the crypto market due to the potential rate hike and ongoing unease around banking system developments.
The outlook for the crypto market after the upcoming FED meeting on May 3rd is bleak.
Fears of a deep credit crunch caused by Silicon Valley Bank's collapse have not yet materialized, and the financial situation is much steadier.
Additionally, inflation remains elevated, and with evidence of stubbornness in underlying inflation, it could be in the 4% to 5% range, far above the 2% inflation target. The markets are pricing in a 25bp Fed Funds rate hike to 5.25% at the May FOMC meeting, and given the steadiness in financial markets, persistence in price pressures, and continued decent activity, this could contribute to a further downturn in the crypto market.
TRX/USDT short
Entry Range: $0.065 - 0.070
Price Target 1: $0.055
Price Target 2: $0.045
Price Target 3: $0.030
Stop Loss: $0.074
TRX Tron Founder Justin Sun 4 Days Left To SEC Lawsuit Summon !Justin Sun's Deadline Approaches: 4 Days Left to Respond to SEC Lawsuit Summon Over Alleged TRX Market Manipulation!
Tron (TRX) cryptocurrency founder Justin Sun has reportedly been issued a summons in the Securities and Exchange Commission (SEC) lawsuit.
The SEC charged Sun with "fraudulently manipulating the secondary market for TRX through extensive wash trading," claiming that trades were made without a change in "beneficial ownership."
The SEC also alleged that the distribution and sale of BTT and TRX required Sun to register the sales with the agency because they were allegedly sold as securities.
In addition, the SEC accused Sun of orchestrating "a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation." This claim suggests that Sun may have been involved in misleading investors by paying celebrities to promote TRX and BTT without disclosing their compensation.
The allegations against Sun are significant and could potentially have a significant impact on the cryptocurrency market.
I expect TRX Tron selloff soon!
Looking forward to read your opinion about it!
