- Tron’s issuance turned negative on April 3, 2022, as 6,708,836 TRX was burned, and the net production ratio dropped below zero.
- As the altcoin continues its uptrend, Tron price has posted 16% gains over the past two weeks.
- Net negative issuance has fueled a bullish narrative among Tron’s investors.
Tron price recently suffered a drop before the altcoin started its recovery. The altcoin posted double-digit gains, wiping out losses from before and climbing higher.
Tron price ready to breakout in response to supply shortage
Tron price is on track to resume its uptrend as net issuance of the altcoin turns negative. On April 3, 2022, a total of 6,708,836 TRX was burned. The net issuance of Tron turned negative, fueling a bullish narrative among investors.
Typically, a net negative issuance indicates a shrinking supply that results in a shortage. The altcoin’s price could begin an uptrend in response to the drop in Tron supply.
3rd April: #TRON burns more than 6,708,836 coins with a net production ratio less than zero -1,642,852 pic.twitter.com/TRpqXpBLNl
— TRON Community (@TronixTrx) April 4, 2022
The total value locked on Tron has surpassed $57.8 billion and continues its climb. While projects on the Tron network continue building, it contributes to the rising total value locked on the blockchain.
Binance recently announced the listing of Tron on its US exchange. The listing fueled the adoption of Tron and increased the altcoin’s demand among investors. The spike in on-chain activity of Tron can be attributed to the listing by leading cryptocurrency exchanges, demand from investors and new partnerships in the network.
Analysts have evaluated the Tron price trend and network activity; they observed a rise in buy and hold type investors and portfolio managers. The demand for Tron is increasing from retail and institutional investors.
The altcoin’s price is above the 100-day Simple Moving Average, close to its 52-week high.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP ruling by Judge Torres denied in Coinbase lawsuit, yet another blow to Ripple
XRP programmatic sales ruling by Judge Torres completely rejected by US Court in Coinbase lawsuit. US Court rejected Coinbase’ motion to dismiss SEC lawsuit, weighing heavily on Ripple’s legal battle.
Sushi price eyes $3 after clearing key weekly resistance level
Sushi price flips the $1.628 resistance level into a support floor after a month of struggle. A temporary retracement might be a good opportunity to accumulate SUSHI before a retest of $3. A breakdown of the $1.267 barrier would invalidate the bullish thesis.
Bitcoin Price Outlook: Will $150 billion bank Morgan Stanley send BTC to new ATH?
Bitcoin has recorded increased volatility this week, with most of BTC holders currently in profit. As market activity continues to grow with long-term holders now ramping up on distribution pressure, the pioneer crypto is bearing the brunt of growing overhead pressure.
Coinbase loses first round of battle against SEC
A day after the SEC filed a lawsuit against Binance last year, it went after Coinbase in a sign that the clampdown is extending to key players in the industry. The latest development in the matter is that the court has ruled in favor of the financial regulator, which means the case will continue.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.