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Home»ALTCOIN NEWS»TRON drops $6 billion due to ‘illegal trading volume’
ALTCOIN NEWS

TRON drops $6 billion due to ‘illegal trading volume’

By Crypto FlexsJanuary 17, 20253 Mins Read
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TRON drops  billion due to ‘illegal trading volume’
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  • TRON saw the largest decline in illicit volume, with the same figure falling by $6 billion.
  • TRX posted a 3.02% gain on the charts.

Over the past year, TRON has worked hard to restore its reputation and increase acceptance while reducing legal issues.

In fact, blockchain has attempted to fight crime by limiting and confiscating assets obtained through criminal activity. To this end, TRON, Tether, TRM Labs, etc. have started collaborating through T3 FCU starting in 2024. According to Justin Sun, these efforts are now bearing fruit and illicit trade volumes are decreasing overall.

Illegal volume significantly reduced

According to the TRM report, TRON has shown several positive trends in 2024. The largest percentage of illegal cryptocurrency activity throughout the year occurred on the TRON blockchain, with 58% of illegal trading volume. This was followed by Ethereum at 24%, Bitcoin at 12%, Binance Smart Chain at 3%, and Polygon at 3%.

This has highlighted the growing demand for blockchains with low transaction fees, smart contracts, and popular stablecoins.

Although TRON now appears to be leading the way in this area, it is worth noting that illegal activity has seen the greatest decline. In fact, TRON’s illicit trading volume decreased by $6 billion and the rate of such activity was nearly halved. Specifically, 49% of Tron’s illicit trading volume was linked to sanctioned companies, and 32% was linked to blacklisted funds.

TRON’s decrease in illegal transaction volume is due to the blockchain’s focus on eradicating illegal actors from the blockchain.

In August 2024, TRON, Tether, and TRM established the T3 Financial Crimes Unit (T3 FCU), which aims to promote public-private partnerships to combat illicit activities using USDT and the Tron blockchain. Since its inception, it has frozen more than $130 million in illicit proceeds.

What does this mean for TRX?

A decrease in illegal transactions within the TRON blockchain is good for TRX. Simply put, TRX will benefit more as more users trust the network, resulting in higher adoption and more new users. Especially in the last 24 hours alone, TRX has recorded modest gains as investors took advantage of good news about the network.

For example, at the time of this writing, the altcoin was trading at $0.244. This marks an increase of 3.02% in the last 24 hours and the cryptocurrency has also recorded gains on the weekly charts.

As TRX earns these gains, the question that arises is whether it can sustain them.

According to AMBCrypto’s analysis, TRX is showing strong upward momentum on recent charts.

Source: TradingView

For example, TRX has had a bullish crossover on RSI over the past 24 hours. This crossover suggests that buyers are dominating the market while sellers are losing momentum.

Simply put, altcoins are seeing their momentum strengthen. This trend was further confirmed as the rising MACD line got closer and closer to another bullish crossover.

Source: IntoTheBlock

Looking more closely, all market participants are optimistic and have continued to accumulate.

This could prove to be a sharp decline in net flows to the exchange. In fact, netflow has decreased to negative values. This is a sign that more transfers are occurring on the exchange.

Source: IntoTheBlock

Lastly, TRON whales are also bullish and continue to purchase altcoins. For example, net flows from large holders turned positive after remaining negative for several days. This shows that capital inflows from whales have increased compared to outflows.

In conclusion, TRON positions the network to grow further through adoption, regulatory approval, and usage as criminal activity within blockchains declines.

Next: Bitcoin’s 2025 Price Target – $145,000 or $249,000? that…

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