Cryptocurrency pioneer Justin Sun has recently made headlines with his proactive engagement in the digital currency space. The TRON leader’s recent actions have sparked increased investor interest, most notably his acquisition of the HTX exchange. On a particular day, Sun queried the potential of a TRX ETF, hinting at the possibility of following in the footsteps of previously approved spot Bitcoin ETFs and the close monitoring of Ethereum and XRP developments.
HTX Exchange and Sun’s Involvement
Responding to queries regarding the extent of his participation in the HTX exchange, Sun divulged, with a graphic, his substantial involvement. He emphasized his significant usage of HTX, comparable to that of other users, stating his commitment to the platform for trading and belief in its potential.
This revelation was accompanied by a visual representation indicating that Sun had an excess of 28,000 BTC on the HTX exchange, which translated to a staggering 1.6 billion dollars.
Implications for TRON’s TRX Token
Simultaneously, the cryptocurrency community monitored the valuation of TRON’s native token, TRX. Following Sun’s announcements, including those related to Bitcoin layer-2, TRX’s price experienced a surge. The token climbed further as Bitcoin surpassed the $57,000 mark.
The price of TRX saw a rise to $0.1423 after a more than 2% gain in 24 hours, and an almost 3% increase over the week. Notably, TRX’s value escalated by approximately 27% in the preceding month. In terms of transaction volume, a significant uptick of over 40% was observed, with a volume exceeding 408 million dollars, reinforcing TRX’s market position with a valuation of 12.5 billion dollars.