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Yahoo
3 days ago
- Business
- Yahoo
TRON Jumps After Sun's Tweet, Network Volume Hits All-Time High
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. TRON (CRYPTO: TRX) is trading at $0.2688, after a price spike of 4.2%. According to CoinMarketCap, the surge came within two hours following a tweet from TRON founder, Justin Sun, on June 3, making TRX the 9th largest crypto. Sun tweeted 'looking forward to it', which reflected interest generated by his social media activity. According to BeInCrypto, market interest is influenced by TRON's network performance. TRX recorded a new all-time high in monthly transfer volume in May 2025. Per TradersUnion, analysts reported that 490.3 billion TRX were transferred, which is equivalent to $132.4 billion at a price of $0.27. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. New to trading crypto? on Coinbase. The volume was a 34% increase from the 362.92 billion transferred in April 2025. TRON overtook Cardano (CRYPTO: ADA) in May to become the 9th largest cryptocurrency by market capitalization. TRON's market cap climbed to nearly $26 billion, while Cardano's dropped to $23 billion. The ranking grew as TRX's price rose 8.8% in May, per BeInCrypto. According to The Tradable, TronDAO initiated a series of unusual TRX movements, leading to community discussions about a possible sell-off. 10 transactions moved a total of 8,777,561,962 TRX to unknown wallets. TronDAO has not provided explanations for these transfers. According to a 45% surge was observed in large TRX transactions within a 24-hour period, amounting to over $215 million. TRX price is in the $0.27-$0.275 range. The consolidation indicates a mismatch between selling and buying pressure. It places TRX in a critical zone where its direction could change quickly based on market conditions. Traders should note potential false breakout signals above the $0.274 mark. The $0.255 area could become a zone for short-term buying if a positive price reaction occurs. Sun's tweet and May's record network activity offer a potentially bullish backdrop, with some forecasts targeting $1 per token. Per CoinJournal, TRX requires a 270% price increase from its current level to reach the $1 mark. Growing network activity and rising adoption indicate a potential for continued upward price movement for TRX in the near to medium term. The unexplained large TronDAO transfers and current price consolidation require close observation. More Opportunities: Grow your IRA or 401(k) with Crypto – . Trade, earn, and grow your crypto portfolio with — . Image: Shutterstock This article TRON Jumps After Sun's Tweet, Network Volume Hits All-Time High originally appeared on
Yahoo
01-04-2025
- Business
- Yahoo
Tether Expands Bitcoin Reserves by 8,888 BTC, Worth $735 Million, in Q1 2025
Tether has added 8,888 BTC to its reserves, equivalent to $735 million, during the first quarter of 2025. This acquisition brings Tether's total Bitcoin holdings to 92,647 BTC, valued at approximately $7.64 billion. As a result, Tether is now recognized as the sixth-largest holder of Bitcoin globally. According to data from Spot On Chain, Tether's Bitcoin investments have generated $3.86 billion in unrealized profits. This strategy aligns with the company's commitment made in May 2023 to allocate 15% of its quarterly profits toward Bitcoin purchases. Despite a challenging market, where Bitcoin experienced a 12% decline in the first quarter—one of its worst performances in seven years—Tether remains focused on increasing its Bitcoin assets. Currently, the price of Bitcoin stands at $83,112, reflecting a modest increase of 1.94%. The overall market has been characterized by rising volatility, contributing to uncertain investor conditions. In addition to its Bitcoin strategy, Tether has also been actively minting new USDT stablecoins. Over the past day, the company has issued an additional billion USDT on the TronDAO platform, bringing its total USDT supply on Tron to over $8 billion. As new competitors enter the stablecoin market, including Ripple's RLUSD and Circle's expansion, Tether maintains its position as a leading player in the space. Sign in to access your portfolio
