Crypto Whales Buy Massive Amounts of TRON as Price Slowly Appreciates | Is $TRX the Next $ETH?

Urian B., Tech Times 02 June 2021, 11:06 pm

Crypto whales have been buying massive amounts of TRON and although the coin is only slowly bullish, it begs the question what potential does $TRX have? Aside from TRON, crypto whales have been buying up massive amounts of $ETH and although millions of dollars of Ethereum has been bought, Ethereum has not yet gone over the $3,000 mark.

$ETH vs $TRX

While Ethereum had a pretty solid bull run last month, it seems like the currency is now a bit mellow despite whales repetitively buying up $ETH. There have been millions worth of $ETH moved around from unknown sources to Binance and vice versa. The movement in $ETH, however, has only minorly affected its price.

When it comes to TRON, the coin isn't exactly as popular as Bitcoin and Ethereum but it has actually been doing pretty decent as of lately. The coin has an $ADA or $XRP like movement where it is usually slow and steady and when it spikes, it does not go too far from the average.

TRON Chart Movement

When looking at the TRON chart, the movement of the coin looks quite boring without that much fluctuation of price volatility. This, however, could actually be the reason for crypto whales investing in the coin.

With the market's volatility being quite unpredictable ever since the exit of China and a number of other reasons, investors and traders are now looking for more secure coins to at least hold their money and make a decent consistent profit. $TRX is one of them. When looking at the chart, the coin looks like a "for long term" type of coin instead of a tradable coin.

$TRX Bollingers and RSI

This, of course, depends on the buyer's mindset and indicators. The coin, according to its RSI and Bollingers, does not show aggressive or volatile movements. Although there are entry points, the coin overall isn't functioning too volatile as to sacer investors and traders.

Almost everyday for the past week, crypto whales have been buying more and more $TRX in large quantities. Although this hasn't really caused a price pump or a bull run, the coin is slowly bullish and increases by single digit percentages every once in a while.

$TRX Price Prediction

While Ethereum was thought to be one of the more stable cryptocurrencies back in the day, the properties of $ETH has changed and the coin looks more tradable than it used to be. The problem with $ETH that a lot of traders have been complaining of is the massive gas fees. Due to this reason, not a lot of traders are day trading $ETH and only those that can sort of afford the pretty wild gas fees.

$TRX, on the other hand, is looking good at its $0.077 price point where it peaks at $0.079 and goes down to the lower $0.07. Of course, it is quite hard to tell whether the coin will hit the $0.1 mark.

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Written by Urian B.