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TRON’s ‘Illicit Volume’ Sees $6 Billion Drop – Good News for TRX?
In a recent development, it has been reported that the illicit volume on TRON has seen a significant decline of $6 billion. This notable drop is indeed good news for TRX, the native cryptocurrency of the TRON blockchain.
It’s no secret that TRON has been working tirelessly to restore its reputation and increase adoption by reducing legal troubles. To achieve this goal, it has taken several measures, including restricting and confiscating assets acquired through criminal activities. This concerted effort is now yielding positive results as illicit volume on TRON plummets.
The numbers are stark – $6 billion being the exact amount of decline in illicit activity. While TRX prices have been subject to fluctuations in the past, this recent news could be a turning point for the cryptocurrency.
As we delve into the specifics of the report, it becomes clear that TRX is poised for growth. The data shows that 49% of Tron’s illicit volume was linked to sanctioned entities, while 32% involved blacklisted funds. This reduction in illegal transactions signifies TRON’s relentless effort to combat illicit activities on its blockchain.
With this significant drop in criminal activity, the TRON network is well-positioned for further growth through increased adoption, regulatory approvals, and utilization.
The market has taken note of these positive developments, with TRX recording a moderate gain over the last 24 hours. At the time of writing, TRX was trading at $0.244, representing a notable 3.02% increase.
This upward momentum is not limited to just one-day gains; the altcoin has also seen significant weekly chart movements. The RSI crossover, for instance, suggests that buyers are dominating the market while sellers lose steam.
Furthermore, AMBCrypto’s analysis reveals TRX is witnessing strong upward momentum on its charts. This trend is further corroborated by a rising MACD line, which hints at an imminent bullish crossover. Additionally, all market participants seem to be in agreement regarding the potential of this altcoin, as evidenced by sharp declines in netflows to exchanges.
In conclusion, the recent drop in illicit volume is not only a testament to TRON’s commitment to ethical practices but also paves the way for further growth and adoption.
Source: ambcrypto.com
