
**TRON (TRX) Price: Tron Inc. Seeks to Purchase 3.1 Billion Tokens with $1 Billion SEC Shelf Offering**
In a surprise move, Tron Inc. has filed a massive $1 billion SEC shelf offering to acquire up to an astonishing 3.1 billion TRX tokens. This unprecedented purchase would mark a significant increase from the company’s previous acquisition of 365 million TRX in June, which was followed by a strong upward trend in price.
The planned acquisition comes at a critical juncture for TRON, as it seeks to strengthen its position as the leading blockchain for USDT transactions. Tron Inc.’s recent listing on Nasdaq has garnered significant attention from institutional investors, allowing it to diversify and expand its network’s capabilities.
In related news, the Fed Rate Decision has triggered a massive $200 million in crypto liquidations, causing uncertainty in the market and potentially influencing Bitcoin’s potential recovery. As a result, Tron Inc.’s proposed acquisition could have far-reaching implications for the broader cryptocurrency space, particularly considering the massive 526% increase in whale activity, resulting in record-breaking unrealized profits.
Moreover, TRX currently trades at $0.33 per token, with resistance levels set at $0.35 and $0.40, making it an attractive opportunity for traders looking to capitalize on this potential price surge.
The company’s recent move highlights its commitment to expanding its ecosystem, as seen in the acquisition of 365 million TRX tokens only a few months ago. Furthermore, the network has overtaken Ethereum as the leading blockchain for Tether supply, with over $80.8 billion in USDT transactions daily.
Source: coincentral.com