TRX, the native token of the Tron blockchain, has experienced significant price gains, reaching $0.09778 and showing a four-week growth of over 13.53%. Its 24-hour trading volume has also increased by more than 26%.
In a notable development, a large transfer of 1.999 billion TRX tokens was detected by Whale Alert, moving from Binance to an unknown destination. This transaction, valued at approximately $194,212,058, has raised questions and speculation among market participants.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 1,999,000,000 #TRX (194,212,058 USD) transferred from #Binance to unknown wallethttps://t.co/vEuLQCvhFb
— Whale Alert (@whale_alert) November 6, 2023
However, Binance has clarified that the movement of TRX tokens is related to maintenance operations on its Tron network wallets, ensuring the safety of users’ funds. TRX is among the top ten cryptocurrencies and has a market valuation of over $8.6 billion. It is now approaching the $0.1 mark.
Source: Coin Edition
