Here is the formatted article in HTML with emphasis on important points using `` tags and a hyperlink to a relevant article on CoinSeeks.com:
Tron (TRX) Defies Crypto Market Volatility, Posts Impressive Gains
Despite the volatility and uncertainty of the crypto market, Tron (TRX) has been performing well, posting a series of green candles every day. The cryptocurrency has experienced significant growth, reaching 15% in the last week and 22% in just two weeks.
After a period of intense market volatility on August 5th, TRX’s prices dropped below $0.11, but the cryptocurrency has bounced back. Not only did this recover, however, it also managed to overtake Cardano (ADA) in the market capitalization rankings. This remarkable recovery came after an unexpected 7.58% increase in value for TRK during the previous day, bringing its market cap to $12.9 billion.
TRX holders are experiencing a surge in 24-hour trading volume, which has increased by 142% to $791 million. The data suggests that 98% of them are currently in profit, while the remaining 2% are either at breakeven or slightly below it. This is favourable for the cryptocurrency, as many holders will hold onto their assets and resist the urge to sell, potentially driving up prices.
However, it’s not all sunshine and rainbows. Additionally, the data shows that whales, also known as large TRX holders, have been reducing their overall holdings by 1.58% in the past 30 days. Conversely, retail investors have reduced their holding sizes by a slightly smaller 0.24%. In addition, the total amount of crypto held by addresses with 1 million to 10 million TRX tokens has decreased by 5.74% over the past 30 days, while those with another 1 billion to 5 billion TRK token have experienced a drop of 3.56% in their holdings.
Despite these concerns, TRQ’s price action has been generally positive, with the cryptocurrency climbing 6% on August 19th and its current price of $0.14 edging down 7% from its all-time high of $12.03. In January 2018, it became an early August 20th century that was booming for banks. The resistance level at $0.143 is the next one to watch as TRX continues to rise, with potential levels of $0.152 and $0.155.
The crypto market has been relatively quiet in recent weeks, while Bitcoin (BTC) and Ethereum (ETH) are trading below their historical lows. Despite the lackluster crypto market, investors are showing interest in TRX and see potential in the cryptocurrency as a viable alternative to the top two assets by market capitalization.
Tron’s impressive performance is bringing something out of the closet with its impressive gains. The cryptocurrency’s ongoing upswing will be intriguing as it looks like it may be able to maintain its momentum and break out of its current resistance levels. TRX is definitely worth monitoring in the coming weeks and months.
For more insights and information on the cryptocurrency market, check out “Crypto Market Analysis: Why Tron (TRX) is on the Rise” on CoinSeeks.com.
Note: The hyperlink is labeled as “Crypto Market Analysis: Why Tron (TRX) is on the Rise” and points to a fictional article on CoinSeeks.com. You can replace it with a real article or URL if needed.
