Lots of attention are drawn when there is a whale alert in the crypto space which involves a large sum of money transferred from one wallet address to another. This time around, this whale alert involves TRON.
The Whale Transfers 549,626 USD Worth of TRX to Huobi
This is not the first time there is a whale alert on TRON’s network this year. In fact, last month (on the 25th of March) about 80 million TRX was transferred from Binance to an unknown account. Roughly seven hours ago, another 20 million TRX coins (549,626 USD) was transferred to Huobi.
It remains in the dark as to who performed the transaction and who is the owner of the Huobi address in question. One fascinating thing is that the transaction was done at the time when TRON and the crypto market, in general, are making great progress.
What Might Have Prompted the Whale?
The whole scenario points out the fact that we might be heading for a FOMO on TRON’s ecosystem. TRON, at lightning speed, is making some good moves in the crypto space that is attracting everyone in the crypto space. Hence, the good steps by TRON might have been one of the reasons that attracted the whale.
The Prospects
TRON – no doubts – have great prospects when considering its price level. It is ranked among the top 10 cryptocurrencies in the crypto market. As an investor, you should know that TRON has excellent prospects and its price might climb steadily very soon.
TRON’s increasing adoption
Right now, no cryptocurrency beats TRON in terms of making partnerships. It is important to know that digital assets increase the number of transaction they have with different companies.
When it comes to TRON, the sky is the starting point in terms of these transactions lately. Take a look at the BitTorrent acquisition and then the plethora of other partnership with various FinTech industries today, and other blockchain companies. Subsequently, the cryptocurrency is not just a digital asset, but a blockchain platform that supports a decentralized internet.
Moving forward, the blockchain also supports the entertainment sector and partnered with Game.com. TRON is vast and cuts across the sports industry too by collaborating with vsports. The digital asset itself aims to create a large blockchain platform that supports Decentralized applications. It is worth noting that other TRON partnerships include BitForex and OTCBTC.
TRON’s listing on Numerous Exchanges
No doubts, lots of exchanges feature TRON, and this occurs almost every week. It is important to know that TRON has featured on 70 different exchanges so far, which shows that TRON is the new trend.
There are lots of new developments coming up on TRON’s network which include implementing an institutional-friendly multi-signature to attract big financial institutions worldwide. Additionally, there will be a new privacy feature that is going to be implemented very soon. All these might be the reasons that attracted the whale.
Overall, there seem to be some positivity on TRON’s network which more likely will make it surge in no time. Many users on social media think these positive happenings attracted the whale. Time will tell if the crypto whale dumps TRON, things look inverse (at least for now).
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.