World Liberty Financial's recent acquisition of 10.81 million TRX tokens for $2.65 million has sparked renewed interest in TRX, the native cryptocurrency of the Tron network. This purchase, marking the second-largest TRX acquisition by the Trump-affiliated entity since the inauguration, underscores the growing confidence in Tron's blockchain capabilities. Justin Sun, founder of Tron, highlighted the significance of this move, stating that it reflects a strong trust in the Tron network. The acquisition has positioned TRX as the fourth-largest asset in World Liberty Financial's holdings, further solidifying its importance in the crypto market.
The bullish sentiment surrounding TRX is also evident in the trading community, with data from Binance showing a strong preference for long positions over short ones. According to Coinglass, the TRXUSDT Long/Short ratio indicates that for every 3.04 long positions, there is only one short position, suggesting a robust bullish outlook among traders. This optimism is supported by technical analysis, which shows TRX breaking out of a trendline and a bullish double-bottom pattern, indicating potential for significant upside momentum.
TRX's price has increased by 1.35% today, reaching $0.3152, with a high of $0.32 and a low of $0.3098.