Crypto whales are seen as market movers, they can start a bull run or a sell of in a short time span. The native token of Tron, TRX, has a significant portion of its supply, over 70%, held by these large investors. So will they move the market up or down?
A significant majority of TRX holders are currently in profit, with 66.10% of addresses (155.63 million) classified as “In the Money.” This means these holders bought TRX at a lower price compared to the prevailing market price.
Meanwhile, only 8.86% of addresses (204.6k) are “Out of the Money,” meaning their holdings are at a loss. Additionally, 25.04% of addresses (568.73k) are “At the Money,” meaning they are near their break-even point.
Tron (TRX) is trading at $0.228871, with a 0.65% price change over the last 24 hours. However, since 70% of TRX supply is held by whales, the question remains whether they will let the price increase or take profits by selling and rebuying at lower prices.
They can either keep their tokens and watch the price increase or sell a portion of their holding, which would create a downward trend before they rebuy when prices dip.
If they push the price higher, it could attract more buyers and boost demand. However, if they take profits and sell, TRX could see a temporary drop before they accumulate more. Keeping an eye on whale activity and market trends will be crucial in predicting what happens next.
