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TRON – Spot Traders Buy a Whopping $29 Million Worth of TRX, Derivatives Selling Limits Price Gains
The cryptocurrency market is never stagnant, with various forces influencing the prices and trading activity. Today’s news from the TRON (TRX) front highlights this dynamic nature. According to recent data, spot traders have accumulated an astonishing $29 million worth of TRX in just a single 24-hour period.
As the price action has unfolded over the past month, TRX has been on a downward trend, with a notable decline of 8.62%. This has led many market enthusiasts to question the sustainability of such losses. However, despite this decline, it is important to note that the spot traders have taken a different approach.
The data reveals that spot traders have continued to buy and accumulate TRX, demonstrating strong buying interest in the asset. This could be an indication that there are still investors willing to support the price of TRX despite its recent losses.
Source: https://ambcrypto.com/tron-spot-traders-buy-29m-in-trx-but-derivatives-selling-limits-price-gains/
