Whales Acquire $293 Million TRON (TRX) After May Top Gains, Will It Maintain This Momentum?

TRON (TRX) token gained the interest of Whales when it appeared as the highest gainer for this month despite a market crisis. Crypto whale wallets have amassed a huge amount of TRX over the last 24 hours.

Whales Acquire $293 Million TRON (TRX) After May Top Gains, Will It Maintain This Momentum?

TRX prices have surpassed those of major cryptocurrencies

Whales have added approximately $293 million worth of TRX tokens in numerous transactions, according to data from Whale Alert. Around 3.56 billion TRX has been transferred from Binance to different unidentified wallets. This purchase included two massive transactions of over $76 million. On May 30, 2022, the whale added about $87.7 million worth of TRX tokens in similar transactions. Its largest transaction carried over 960 million TRX from Binance to an unidentified wallet.

The TRX token is trading at an average price of $0.081, at the time of writing. Its 24-hour trading volume has increased by 9% to stand at $967 million. The TRON token has increased by more than 20% in the last 30 days. Meanwhile, the biggest digital assets, such as Bitcoin and Ethereum, have fallen by 17% and 29%, respectively.

TRON TVL jumped by 50% 

TPS Capital, Three Arrows Capital’s official over-the-counter (OTC) desk, was confirmed as the eighth member of the TRON DAO Reserve earlier this week. Earlier, the Reserve had added the Falconx network to its list of members. Meanwhile, TRON’s CEO, Justin Sun, mentioned that some big news related to their stablecoin, USDD, will be released this week.

In the aftermath of the TerraUSD collapse, TRON’s USDD has proven to be the most profitable stablecoin. The USDD entire supply has risen to stand at $601 million. Its 24-hour trading volume stands at $62 million.

The TRON chain was able to grow its total value locked throughout the market crisis as a result of this spike. In the last month, TRON’s TVL has climbed by around 50%. It has a locked value of $5.9 billion. The Ethereum chain, on the other hand, continues leading with the highest TVL.