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Why Is Tron Outperforming Bitcoin, Ethereum And Dogecoin Today?

Tron (TRX) spiked nearly 11% to $0.73 over 24 hours leading up to early Monday morning.

Benzinga · 05/02/2022 03:09

Tron (TRX) spiked nearly 11% to $0.73 over 24 hours leading up to early Monday morning. The Justin Sun-founded coin is riding high on a recent announcement of a new stablecoin called USDD or Decentralized USD on its network.

Tron’s spike at press time exceeded the 24-hour gains seen in Bitcoin, Ethereum, and Dogecoin (CRYPTO: DOGE). 

Tron (TRX) Price Performance
Time-frame % Change (+/-)
24-hour 11%
24-hour against Bitcoin (CRYPTO: BTC) 8.2%
24-hour against Ethereum (CRYPTO: ETH) 7.8%
7-day 15.3%
30-day -3.8%



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The TRX Factors

  • Tron was seen trending among retail investors on Stocktwits. The coin was the number-two gainer over 24 hours among top 100 coins, according to price-tracking websites CoinMarketCap and CoinGecko.
  • TRX’s trading volume shot up 56.8% over 24 hours to $1.88 billion, according to data from CoinMarketCap. 
  • Coinglass data showed that $2.49 million worth of TRX futures were liquidated in the preceding 24 hours as the coin spiked.

A Step Closer?

Justin Sun retweeted a post from TRON DAO Reserve Sunday that said it is now taking a “step further” to build the industry’s first decentralized reserve. 

Total Tron Accounts Surge

Early Monday, Tron’s official Twitter said that the network now “boasts” of over 90 million total accounts and over 3.1 billion transactions. 

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