Tron’s 374% Profit-Taking Spree Uncovered—Here’s Who Was Behind It
Tron (TRX) experienced a significant spike in the Spent Output Profit Ratio (SOPR) earlier this month, indicating a large amount of profit-taking by investors. The SOPR, which measures whether TRX is being sold at a profit or loss, rose above 1, reaching a peak of 4.74, reflecting a profit margin of 374%. At a price of $0.268, the average acquisition cost for these coins was approximately $0.0566, suggesting that many tokens had been held for an extended period before being sold. This activity may involve early investors realizing gains or reallocating assets. Additionally, the USDT supply on the Tron network surpassed $80 billion, making it the second-largest among cryptocurrency networks. As of the latest data, TRX is trading at $0.273, showing a 0.5% increase in the last 24 hours.
