Big Moves Predicted With $13M TRX Outflow

Traders and investors withdrew a whopping $13.1 million worth of TRX from exchanges yesterday, the largest single-day withdrawal in over a month. IntoTheBlock data shows this spike in withdrawals signals potential accumulation as they move their holdings to personal wallets or cold storage. These movements could indicate future price increases or strategic investment moves.

Source: InToTheBlock

The blue line in the chart shows the total TRX exchange balance, while the black line shows the total net flow of TRX. The recent spike in the Netflow line indicates a large outflow, linked to the withdrawal of $13.1 million worth of TRX.

This major transaction shows increased activity and interest in TRX. While the token’s withdrawal pattern has varied in the past month, the recent rise has drawn attention, indicating a strategic shift by TRX holders.

Despite market volatility, the withdrawal shows growing confidence in TRX’s long-term value or a strategic move to protect assets from market uncertainties. This happens as the Tron blockchain announces a major upgrade.

TRX Blockchain Introduces Fee-Free Stablecoin Transfers

The Tron blockchain’s new feature will enable gas-free stablecoin transfers and will launch in Q4 this year, according to founder Justin Sun. Users can transfer stablecoins without fiat fees, with fees deducted from the stablecoins being transferred, similar to centralized exchange trading fees.

This launch is part of Tron’s plan to enhance user experience and increase blockchain adoption. The gas-free transfer feature will debut on the Tron blockchain and later expand to Ethereum and all EVM-compatible chains.

I wasn’t joking when I said the next bull run is a battle of the blockchains. Even the Tron blockchain ($TRX) is preparing to launch a gas-free stablecoin transfer feature. It will work like trading on a centralized exchange, with fees deducted from the stablecoin you transfer. This feature will first launch on Tron and then expand to Ethereum and all EVM-compatible chains.

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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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