Tron (TRX) experienced a strong rise following its expansion to the Ethereum network and improvements in network activity.
The crypto money market, which was stuck after the US debt ceiling and the painful days in the global economy, started to rise as of yesterday evening. Especially in many altcoins, there were noticeable increases.
Tron also continues to rise since yesterday evening. The Ethereum announcement from Justin Sun and the increase in network activity paved the way for the rise of TRX.
Tron Spends The Day On The Rise
The decentralized smart contracts project Tron (TRX) has been on a steady rise since March 22. Recently, Tron founder Justin Sun stated that the network broke the daily transaction record of 10,935,762 transactions. The massive increase in network activity also reflected positively on TRX.
On-chain data provider Santiment noted that TRX closed the week higher. With this tight correlation, Santiment pointed to the potential performance of the project next week.
https://twitter.com/santimentfeed/status/1664798297033428993
Sun, on the other hand, announced the expansion of Tron to Ethereum. Sun stated that via the BitTorrent bridge, Tron can also be used on the Ethereum network.
#TRON (#TRX) has now expanded its reach by going live on the #Ethereum blockchain by leveraging the #BitTorrent bridge . With the contract address 0x50327c6c5a14dcade707abad2e27eb517df87ab5, #TRX is now fully accessible within the Ethereum ecosystem.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) June 2, 2023
Standing out in all metrics, Tron continues to stand out as a result of network activity and accompanying developments. According to CoinGecko data, TRX is spending the day at $0.0847, gaining close to 10 percent. Ahead of TRX, the $0.089 level appears to be a strong resistance. If this resistance is broken, TRX could target the $0.12 level. On the other hand, TRX could test the support around $0.0705 if the uptrend ends. If this support is broken, TRX is on the table to test the support at $0.05535.
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