TRON (TRX) witnessed a significant reduction in illicit activities in the year 2024, as revealed by the latest report from TRM Labs.
CryptoQuant’s recent post highlighted that credit for this accomplishment largely goes to the T3 Financial Crime Unit, a joint effort involving Tether, TRON DAO, and TRM Labs to combat illegal transactions involving USDT on the TRON blockchain.
However, that’s not the only positive news. In addition to this achievement, TRON has also experienced a noteworthy increase in its value, likely igniting enthusiasm among the cryptocurrency’s backers. Therefore, it’s prudent to assess the current status of the altcoin’s market charts.
Notable 12% Surge After Rejection of Critical Support Level
TRX, the native token of TRON, surged impressively by 12% from the crucial support mark of $0.216 to a recent price of $0.2493. The ongoing bullish trend might propel TRX’s value to evaluate this crucial level soon, provided that the current trajectory is maintained.
The decrease in illegal activities on the TRON platform seems to be a driving force behind this positive price movement. As the blockchain network expands and earns more trust, investor sentiment is likely to further improve.
This is particularly noteworthy considering the substantial role TRX plays in facilitating USDT transactions, forming a significant portion of the network’s overall activity.
Implications of Decreasing Illegal Transaction Volumes for TRON’s Future
The combination of diminishing illicit behaviors and a robust price surge presents a bright outlook for the TRON network. With the active involvement of the T3 Financial Crime Unit in curtailing unlawful transactions, TRON’s reputation as a reliable and effective blockchain is poised to strengthen even further.
Such advancements could draw in more participants and developers to the platform, ultimately bolstering the demand for TRX in the foreseeable future.
Anticipated Developments for TRON in the Immediate Future
From a technical perspective, the $0.275 resistance level stands as the next obstacle on TRX’s path. If the bullish trend persists, breaching this critical level could pave the way for further upswings.
Nevertheless, any indications of dwindling momentum might trigger a retreat towards the $0.216 support level.