Transaction On TRON (TRX) Has Reached an All-Time High

Assets on the cryptocurrency market are rising in value and reaching new highs in other areas. TRON (TRX) is an instance of such a resource. The recent highs might give the appearance that the crypto market is stagnant. 

But the cryptocurrency industry’s market worth is still much below the targeted $1 trillion threshold.

TRON (TRX) Has Reached 4 Billion Network Transactions

On the TRON blockchain, 4 billion transactions have been completed as of this writing. In addition, the blockchain has witnessed 4,812,800 more transactions in the last 24 hours alone. The numbers above are from TRONSCAN data. Finbold obtained the information on October 10.

TRON’s total value locked (TVL) has crossed $12.5 billion and should not be overlooked. It’s also vital to remember that the network now has 115 million active accounts. Both of these achievements need to be taken into account. 

A little over two months have passed since TRON rose to the position of the second-largest public chain. The stablecoin market cap did the ranking.

Acquisition Rumors for Huobi

New developments are appearing in the interim. The TRON creator Justin Sun is said to be the actual purchaser of the Huobi cryptocurrency exchange. Reports also emerged that Sam Bankman-Fried’s FTX may have helped with the purchase.

More specifically, Huobi released a statement on October 8. According to Houbi, the company’s controlling shareholder transferred all the About Capital Management-owned shares of HuobiGlobal. WuBlockchain received confirmation from several sources that Justin Sun was, in fact, the principal investor in this fund.

Sun announced his appointment to Huobi’s Global Advisory Board via his Twitter account. Sun said he did not participate in the acquisition event, yet this nevertheless happened. The crypto exchange itself validated the details of his claim of appointment. As he said:

According to WuBlockchain, Li Lin, who founded Huobi, had contact with FTX and Justin Sun. Li Lin wanted to get $3 billion for his majority ownership in the exchange. According to rumours, FTX and Justin Sun were considering buying Huobi. FTX is allegedly suspected of making stakes to assist Justin Sun with this deal.

A Look at The Current Tron Market Pricing

Since rumours of the deal started to spread, the TRX token price for TRON has risen. The current price of TRON is $0.6435. This represents gains of 3.39% for the day and 5.16% over the previous seven days.

On October 10, information gathered from CoinMarketCap provided some insights. According to this indicator, TRX has a market valuation of $5,947,214,346 and is the 15th largest cryptocurrency.