TRX Holds Steady Amid Broader Crypto Market Sell-Off
TRX maintained its gains during a widespread cryptocurrency market downturn after Tron Inc. announced the acquisition of 140,382 TRX at an average price of $0.3562. According to NS3.AI, the company's treasury has increased to over 696.5 million TRX. Bloomberg ETF analyst James Seyffart noted that Canary Funds submitted amendment number one for a staked TRON ETF. CoinGecko data indicates that TRX rose by 0.6% over 24 hours, despite the broader market facing pressure from higher-than-expected inflation data, increasing oil prices, and rising U.S. bond yields.
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