The cryptocurrency market may appear stuck in a recession, with its market capitalization standing firmly below the required $1 trillion mark, but some of its assets, such as TRON (TRX), are seeing price gains and reaching highs in other regions.
In fact, the total number of transactions on the TRON blockchain recently exceeded 4 billion, adding 4812,800 transactions in just the last 24 hours, according to clear the throne The data was retrieved by Coinphony on October 10.
It is also worth noting that the total value of TRON Locked-Out (TVL) has exceeded $12.5 billion and the number of accounts created on the network has reached 115 million, just two months after TRON became the second largest public chain with a stable market capitalization of coins.
Huobi acquisition rumors
Meanwhile, new developments are coming as TRON founder Justin Sun is reported to be the real buyer of crypto exchange Huobi, possibly with the help of Sam Bankman-Fried’s FTX.
Specifically, Huobi announced on October 8 that the controlling shareholder company has transferred all HuobiGlobal shares held by the fund around Capital Management, but several sources said The Blockchain That fund’s primary investor was actually Justin Sun.
Even though Sun denies participating, he did. most dangerous On his official media account on Twitter, he was appointed as a member of Huobi’s global advisory board, which was confirmed by the crypto exchange itself. As he said:
according to The BlockchainFTX and Justin Sun made initial contact with Huobi founder Li Lin, who sought to sell his largest stake in the stock exchange for $3 billion. As rumors say, FTX has made investments to help Justin Sun make this purchase.
TRON . Price Analysis
After acquisition rumors started circulating, the price of TRON’s TRX token strengthened and is currently at $0.06435, which is an increase of 3.39% on the day, as well as 5.16% over the past seven days.
As it stands, TRX currently has a market capitalization of $5,947,214,346, making it the 15th largest coin by this index, according to CoinMarketCap data retrieved October 10.
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A TRON (TRX) post has reached 4 billion transactions across the network after Justin Sun buying Huobi Rumors debuted on Coinphony.