TRX Token Slides 2.18% as Bearish Sentiment and High Trading Volume Shape Market Outlook

TRXUSDT experienced a 2.18% price decline over the past 24 hours, opening at 0.2849 and currently trading at 0.2787 on Binance. The drop is primarily attributed to sustained bearish sentiment, evidenced by a five-day downward trend, increased short-selling interest in derivatives markets, and technical indicators such as MACD and RSI signaling selling pressure. Despite Tron Inc.’s recent purchase of additional TRX and notable on-chain transfers, including 755.57 million TRX from Binance to FarFuture, these buy-ins have not offset the ongoing market sell-offs, such as the 8 million TRX transfer from WhiteBIT. Trading activity remains high, with 24-hour volume on Binance at $840.73 million and the broader TRX market showing robust engagement, a market capitalization around $26.27 billion, and a circulating supply of approximately 94.72 billion tokens.