According to a tweet by TRON (TRX) on January 10, the network has displayed an impressive performance as it is currently ranked second in terms of total value locked (TVL) in the entire crypto space.TRON’s TVL has reached $9.2 billion by end of 2022, TRON DAO disclosed.- TRON chief executive to extend help to FTX and SBF – TRX price spikes by 1.52% – TRX remains robust in terms of trades A lot of people are now keeping an eye on TRON, and wondering whether it can hold on to its ranking and recuperate especially following its recent sharp decline.The network has always championed its quest for further decentralization.In fact, in comparison to other crypto assets, TRX has made significant progress over a short span of time.Image: TRON DAO TRX Price In The Green, Up 11% In Last Week According to CoinMarketCap, TRX’s price has increased by 11% in the last seven days, and trading at $0.05744 as of writing.
Noticeably, many investors are worried about their crypto investments, especially with the crypto crash that happened just recently.Image: CoinMarketCap TRON CEO, Justin Sun, disclosed that he would extend some help to both FTX and its former CEO, Sam Bankman-Fried so the crypto exchange can recover.
This recent statement by Sun is quite controversial and has put the network on a bad light.More so, this caused investors to hesitate with the crypto especially as it shows support for the disgraced crypto company.Meanwhile, TRX is said to lead the crypto space in terms of trustworthiness, being an open network.The year 2022 is said to be the token’s best year so far with its price shooting to as much as 2,950%, an all-time high.In fact, even in the face of an ongoing bear market, TRON remains to be as robust as ever in terms of trades with investors generously funding the network.FUD Surrounding TRON Still Felt Recent price activity in TRON (TRX) has been influenced by Bitcoin (BTC) and the activity of the US stock market.
On the 11th of January, speculators wagered on reduced U.S.
inflation, which boosted cryptocurrency markets and led to a rally on U.S.stock markets.At the time of publication, the fear, uncertainty and doubt surrounding TRON’s founder Sun and the Huobi exchange can still be felt, which contributed to the negative weighted sentiment regarding TRX.
TRX total market cap at $5.2 billion on the daily chart | Chart: TradingView.com This demonstrates that the investor had a pessimistic view of the asset going into the transaction.However, this was not enough to stop TRX from surging.
At this point, TRON’s revenue has shown to spike from $509,942 to $637,526 as seen in the previous month.The increase in revenue is said to be triggered by the padding of the number of active wallet addresses on the network which also shows an increase in users by 4.53%.Overall sentiment for TRON is positive, which could mean that TRX price has the potential to skyrocket in the future.-Feature image by MEXC Blog Cryptocurrency news Polkadot Breaches $5 But These Levels Remain Crucial For DOT Polkadot has finally managed to break past the rigid price resistance mark of $5.
Over the last 24 hours, DOT increased by more than 6%.In the past week, the coin has secured double-digit gains.Bitcoin moved into its daily chart’s $18,000 price zone, pushing altcoins on their respective charts.Although DOT rallied in the last 24 hours, the altcoin is still not out of the woods.
The altcoin must remain above two price levels.The technical outlook still sided with the bulls, but there was a fall in the accumulation on the daily chart, indicating that there has been a fall in demand.
The demand, however, secured by DOT reached a multi-month high.Usually, after being overvalued, the coin starts to retrace on its chart.Indicators showed that if buyers do not remain consistent, DOT will depreciate on its chart over the subsequent few trading sessions.The altcoin market capitalization fell slightly in the last 24 hours, which meant demand for the altcoin dipped.At the moment, DOT was trading 90% below its all-time high of 2021.
Polkadot Price Analysis: One-Day Chart DOT was trading at $5.09 at the time of writing.The coin was trading within an ascending parallel channel (blue).The ascending parallel channel marked a bullish force in the market.At the time of writing, Polkadot broke above the ascending parallel channel, indicating that DOT might consolidate over the subsequent trading sessions before it starts to retrace.Immediate resistance for the coin stood at $5.30; if it managed to breach that level, it could rally to $5.40.
On the other hand, if Polkadot loses its momentum, it will fall to $4.80.The altcoin has to remain above the $4.80 mark, or the bears will take over completely.
Technical Analysis The altcoin was still in the bullish zone despite a slight fall in demand.The Relative Strength Index (RSI) was above the 60 mark with a minor downtick; this indicated that although demand fell, the price was under bullish control.Similarly, the asset price was seen above the 20-Simple Moving Average (SMA), which indicated that the bulls were driving the price momentum in the market.As RSI secured a multi-month high, the altcoin traveled above the 50-SMA (yellow) line.With increased demand, technical indicators pointed out traders could have a buying opportunity.The Moving Average Convergence Divergence suggests price momentum and reversals.
The indicator formed green signal bars tied to buy signals.
The Bollinger bands also grew apart in anticipation of a substantial price movement over the next trading session.Featured Image From Unsplash, Charts From TradingView.com Cryptocurrency news Solana Price Surge Attracts Investors, What’s Driving It? You don’t have permission to access this resource.Apache/2.4.54 (Debian) Server at newsbtc.com Port 80 Polkadot (DOT) has ushered in the first week of 2023 on a strong note, rising 8% in the last seven days, data from Coingecko shows, Wednesday.The ecosystem itself has been very bullish recently, following the trend of the crypto market.According to Polkadot Insider, who posted an on-chain update of the ecosystem, Polkadot is registering new users on-chain, peaking on January 6th at 2,126 new users.
The ecosystem also saw gradual increases in revenue.Compared to December’s final week– which includes January 1st, in line with Polkadot Insider’s chart– average revenues on the last week of the month was at $671.8 million, but the average rose this week to $709.3 million.
Image: Polkadot Insider/Twitter Connecting The DOTs Polkadot released a blog post rounding up the developments on the ecosystem last year and it is impressive nonetheless.Even with the strong grip of the bear market, Polkadot has over 550 projects running on-chain or are being developed on the ecosystem.With over 71 parachains on Polkadot, development will continue even in the midst of the bear market.Chart: Santiment This can be seen in the development activity on-chain which skyrocketed with the start of the year.
Polkadot also scored major partnerships with Japan phone operator NTT Docomo and video game company Square Enix, further strengthening the ecosystem’s Web3 infrastructure.But positive revenues, booming dev activity, and major tie-ups could have no big effect on DOT’s price, despite its latest weekly ascent.The token has not broken its sluggish pace which started in May last year.This downtrend, if not altered this year, will eventually lead the token to retest its support at $4.Polkadot ‘Sucker Rally’ As of writing, the token is changing hands at $4.8 which is not a far cry from the $5 resistance that halted any bullish run for DOT.According to crypto analyst Market Mobster, the rally that DOT has experienced is just what they call a “sucker rallys.” Some $DOT analysis Be careful of these types of ‘suckers rallys’ As much as I love @Polkadot I’m not adding to my bag here, monster downtrend needs to break structure to give me more confidence 99% of coins look like this when you zoom out.
You should have bought it weeks ago pic.twitter.com/4cPzh0xfVZ — Market Mobster (@MarketMobsterUK) January 9, 2023 DOT total market cap at $5.7 billion on the daily chart | Chart: TradingView.com Other analysts, however, are bullish that the token would break out of its current macro trend and rise.However, this week’s Consumer Price Index data release would be a dice roll for the broader financial space.
Image: GURU/Twitter The token may enter a sideways motion as the market waits for the release of the CPI.However, the token’s correlation with BTC might give a needed boost to finally end the macro trend it has followed since last year.
-Featured image from Cryptoglobe Christian Encila Freelance writing is Christian’s other cup of tea.When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons.
Other than that, he’s just like everybody else who wants to be happy with their life.Top posts Monero4 hours ago Monero Has Been On A Bullish Run But Will The Momentum Hold? The Monero price has rallied over the past week since the broader market recovered.Over the last 24 hours, XMR…
Bitcoin5 hours ago Bitcoin Bearish Signal: Spot And Derivative Reserves Shoot Up On-chain data shows the Bitcoin spot and derivative exchange reserves have both shot up recently, a sign that could be…
https://news.btcminingvolt.io/news/why-bitcoin-btc-holders-should-keep-calm-despite-crossing-the-sth/ Why Bitcoin [BTC] holders should ‘keep calm’ despite crossing the STH On-chain analyst predicted a $32,000 BTC halving price and a new ATH in 2025.The coin’s uptrend could be halted…Featured6 hours ago Research: BTC Hash Ribbon indicator signals miner capitulation could be almost over Research: BTC Hash Ribbon indicator signals miner capitulation could be almost over Josh O’Sullivan · 8 mins ago · 2…Activity6 hours ago Nexo Bitcoin Withdrawals Surge Following Raid Of Bulgarian Offices After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount…
Analysis7 hours ago Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains Shiba inu was one of Friday’s biggest gainers, as the meme coin raced to a six-week high.The move came…altcoin7 hours ago Avalanche’s bull rally might come to a halt because of these factors Avalanche’s RSI was in an overbought position.However, other metrics and market indicators were bearish.
Avalanche [AVAX] investors had a…ada8 hours ago Cardano’s sidechain toolkit and everything latest about ADA Bullish rally continued as spurts in development activity kept investors interested.However, network activity dipped as whales shied away.In…Biden9 hours ago Biden Vows To Veto House Republicans’ ‘Fair Tax Act’ Proposing Elimination Of IRS Several U.S.House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS)….altcoin10 hours ago Can Shiba Inu’s Metaverse update help SHIB continue its bull rally? SHIB The Metaverse has been invited to exhibit at this year’s SXSW XR Experience.
Whale interest increased, and the metrics…
Analysis10 hours ago Bitcoin, Ethereum Technical Analysis: BTC Hits 2-Month High, Climbing Above $19,000 Bitcoin continued to trade higher on Jan.13, with prices racing above the $19,000 level, hitting a two-month peak in…Wrapped11 hours ago CryptoSlate Daily wMarket Update: Bitcoin hits $19,000 as market cap crosses $900B CryptoSlate Daily wMarket Update: Bitcoin hits $19,000 as market cap crosses $900B Samuel Wan · 5 hours ago · 2…
Analysis12 hours ago Total crypto market cap exceeds $900B – marking 9 week high Total crypto market cap exceeds $900B – marking 9 week high Samuel Wan · 6 hours ago · 2 min…Altcoins12 hours ago Polygon Hard Fork By Next Week, Here Is What To Expect It was in the last month that the Polygon Governance Team had invited the community on their platform to discuss…altcoin12 hours ago Litecoin is ready for strong adoption in 2023, thanks to these factors at play Litecoin’s hash rate made a significant contribution to investor confidence since September.LTC may experience some selling pressure now that…Crypto news12 hours ago Here’s How Genesis and Gemini May Have Violated The Crypto Securities Laws The U.S.
Securities and Exchange Commission (SEC) has filed charges against Genesis Global Capital LLC and Gemini Trust Company LLC…Bear Market13 hours ago Crypto.com to slash workforce by 20% Crypto.com to slash workforce by 20% Christian Nwobodo · 7 hours ago · 1 min read The effect of the…Gary Gensler14 hours ago US lawmaker Tom Emmer says SEC is ‘protecting’ no one US lawmaker Tom Emmer says SEC is ‘protecting’ no one Oluwapelumi Adejumo · 8 hours ago · 2 min read…Trending – Navigating6 days ago Navigating the DeFi landscape: Risk management, user experience, and the interplay with CeFi – SlateCast #44 – premium5 days ago How the GBTC premium trade ruined Barry Silbert, his DCG empire and took crypto lending platforms with them – Acquisition6 days ago Wyre Announces Modification Of Withdrawal Policy, Pushing Topps To Temporarily Suspend NFT Marketplace Transactions – Alameda Research3 days ago Former FTX Director Of Engineering Under Scrutiny By US Law Enforcement, Alleged Proffer Sessions Held With Prosecutors In New York – Exchange Programs6 days ago Sky Global Summer Exchange Program & Internship In Turkey 2023 | Fully Funded | By Turkish Aerospace Industries And Yunus Emre Institute – Fully Funded Scholarship5 days ago IU University Online Germany Scholarship 2023 Without IELTS – Fully Funded Scholarship3 days ago USEFP Scholarship In Pakistan 2023-24 | US Fulbright Scholarship | Fully Funded | United States Educational Foundation In Pakistan – Analysis2 days ago Bitcoin, Ethereum Technical Analysis: BTC Hits Fresh 3-Week High, Ahead Of Thursday’s US Inflation Report []https://news.btcminingvolt.io/navigating/navigating-the-defi-landscape-risk-management-user-experience-and-the-interplay-with-cefi-slatecast-44/ []https://news.btcminingvolt.io/premium/how-the-gbtc-premium-trade-ruined-barry-silbert-his-dcg-empire-and-took-crypto-lending-platforms-with-them/ []https://news.btcminingvolt.io/uncategorized/wyre-announces-modification-of-withdrawal-policy-pushing-topps-to-temporarily-suspend-nft-marketplace-transactions/ []https://news.btcminingvolt.io/uncategorized/former-ftx-director-of-engineering-under-scrutiny-by-us-law-enforcement-alleged-proffer-sessions-held-with-prosecutors-in-new-york/ []https://news.btcminingvolt.io/scholarships/sky-global-summer-exchange-program-internship-in-turkey-2023-fully-funded-by-turkish-aerospace-industries-and-yunus-emre-institute/ []https://news.btcminingvolt.io/scholarships/iu-university-online-germany-scholarship-2023-without-ielts/ []https://news.btcminingvolt.io/scholarships/usefp-scholarship-in-pakistan-2023-24-us-fulbright-scholarship-fully-funded-united-states-educational-foundation-in-pakistan/ []https://news.btcminingvolt.io/uncategorized/bitcoin-ethereum-technical-analysis-btc-hits-fresh-3-week-high-ahead-of-thursdays-us-inflation-report/.