Analysis

TRON (TRX): The $6.94 Billion Cryptocurrency and its 1.42 Million Twitter Followers - An Analysis, July 10, 2023

John Williams

Jul 10, 2023 — 1 min read

TL;DR: As of July 10, 2023, the TRON (TRX) cryptocurrency is priced at approximately $0.077 with a market cap of nearly $6.94 billion, ranking it 11th in the market. It has a strong social media presence with 1.42 million Twitter followers, 126,175 Reddit subscribers, and 55,896 Telegram users.

TRON (TRX) is making waves in the cryptocurrency market. The digital asset is currently priced at around $0.077 and has a market capitalization of approximately $6.94 billion, making it the 11th most valuable cryptocurrency. One of the distinguishing features of TRON is its broad reach on social media platforms, particularly Twitter where it boasts a following of 1.42 million users.

The 24-hour trading range for TRX has been between $0.076716 and $0.080134. While this shows a slight volatility, the 24-hour trading volume has been robust at approximately $224.7 million. The market cap dominance of TRX is currently at 0.572%.

The circulating supply of TRX is nearly equivalent to its total supply, with 89,840,234,576 TRX tokens in circulation out of a total of 89,840,475,549. This indicates that almost all of TRX tokens that will ever exist are currently in the market.

The influence of social media on cryptocurrency cannot be overstated. For TRON, this is evident in its strong social media presence. Apart from its 1.42 million Twitter followers, TRX also has 126,175 subscribers on Reddit and 55,896 users on Telegram. However, the average accounts active on Reddit and new posts per hour indicate a more passive than active community.

Predictions

Given the present market trends and TRON's substantial social media following, it's reasonable to forecast a steady increase in TRX's value, provided the market remains stable and positive sentiment towards cryptocurrency persists.

Market Capitalization

This represents the total value of a cryptocurrency, calculated by multiplying the current price by the circulating supply. In TRON's case, with a price of $0.077 and a circulating supply of around 89.84 billion, the market cap is close to $6.94 billion.

Trading Volume

This refers to the total number of a cryptocurrency that has been traded in a given period, usually 24 hours. A high trading volume, like TRON's $224.7 million, indicates strong investor interest and market activity.

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Social Media Influence