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Among <a href="https://coingape.com/tron-burns-9-9-million-trx-tokens-in-deflationary-move/" rel="noopener noreferrer nofollow">Tron</a> TRX addresses, a 99% profitability rate was achieved, which makes it an outstanding achievement in the ongoing cryptocurrency market rally. This accomplishment makes Tron a top beneficiary of the broader market’s rise, with its price significantly increasing.
<img decoding="async" class="aligncenter wp-image-180842" src="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-16T202327.194.png" alt="" width="565" height="361" srcset="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-16T202327.194.png 691w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-16T202327.194-300x191.png 300w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-16T202327.194-150x96.png 150w" sizes="(max-width: 565px) 100vw, 565px">
TRX/USD 24-hour price chart (source: CoinMarketCap)
Over the last week, TRX has gained 6.4%, the 14-day chart shows a 12.7% increase, and the monthly chart indicates a 21.62%. Concurrently, in the last year, TRX has been up by 90.8%, moving the coin to the 13th place among the largest cryptos by market capitalization and enjoying a market cap of $11.56 billion.
<h2 id="the-profitability-surge-of-tron-s-trx">The Profitability Surge of Tron’s TRX</h2>
Detailed analysis of the data reveals that a significant increase in the price of Tron resulted in almost all of its holders being in profit. This was derived from analysis by IntoTheBlock’s <a rel="noopener noreferrer nofollow" href="https://app.intotheblock.com/coin/TRX/deep-dive?group=financials&amp;chart=inAndOut">Global In/Out</a> of the Money, which compares the buy prices of addresses owning TRX to the price of the asset presently.&nbsp;
Addresses are identified as “In the Money” by the metric when they purchased TRX at a price less than its present value, showing a profit.
In contrast, addresses are “Out of the Money” when they bought TRX at a higher price, indicating a loss. Nevertheless, the data points out that 115.9 million addresses, or 99% of TRX holders, are currently in the green, with only 1% at breakeven, which means no addresses are at a loss.
<h2 id="tron-s-appeal-and-challenges">Tron’s Appeal and Challenges</h2>
Tron’s architecture, proof-of-stake, and smart contract functionality decentralized blockchain, introduced by Justin Sun in 2017, makes it popular. Technical breakthroughs notwithstanding, Tron was in the midst of controversy last year.&nbsp;
It was said to have become the favourite network for illegal payments as a replacement to Bitcoin, especially in the <a href="https://coingape.com/israel-freezes-hamas-crypto-accounts-amid-conflict/" rel="noopener noreferrer nofollow">Israel-Hamas</a> conflict scenario. This was attested by the Israel authorities, which locked down 143 Tron wallets associated with terrorist financing, which was a higher figure than the Bitcoin incident.
<h2 id="justin-sun-s-strategic-moves">Justin Sun’s Strategic Moves</h2>
Despite these difficulties, Tron is still innovating, with Justin Sun unveiling a <a href="https://coingape.com/tron-unveils-btc-layer-2-for-enhanced-blockchain-links/" rel="noopener noreferrer nofollow">Bitcoin Layer 2</a> solution to improve interoperability between blockchains, speed, and security. This ambitious roadmap looks at integrating TRON with Bitcoin, making it easier for TRON to access of its $55 billion stablecoin market.
The initiative is set out in three phases, focusing on cross-chain technology, strategic collaborations with Bitcoin Layer 2 protocols, and, ultimately, creating a solution that integrates TRON, BTTC, and BTC. This approach aims to scale Bitcoin’s performance and leverage the low fees and fast transactions of <a href="https://coingape.com/glossary/proof-of-stake-pos-lets-explore-this-blockchain-consensus-mechanism/" rel="noopener noreferrer nofollow">Proof-of-Stake</a> systems while maintaining robust security.
Read Also: <a href="https://coingape.com/spot-bitcoin-etf-top-us-banks-fighting-to-get-a-piece-of-the-pie/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">Spot BitcoinETF: Top US Banks Fighting to Get a Piece of the Pie</a>&nbsp;
The post <a href="https://coingape.com/how-did-tron-trx-have-99-of-its-addresses-in-profit-amid-the-rally/" rel="noopener noreferrer nofollow">How Did Tron TRX Have 99% of Its Addresses in Profit Amid the Rally?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

How Did Tron TRX Have 99% of Its Addresses in Profit Amid the Rally?

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