Key Takeaways

TRON slipped to $0.34 despite a sharp rise in whale transactions. Spot selling outweighed buying, while Open Interest fell. Funding Rates stayed positive, yet momentum indicators flipped bearish.

Since hitting $0.36, TRON [TRX]  faced heavy selling pressure, dipping to $0.33. At press time, TRX traded at $0.34, down 3.18% on the day.

Surprisingly, despite a substantial price drop, TRON’s whale activity has remained relatively high, according to CryptoQuant’s Darkfost.

Average Monthly Whale Transactions rose from 1.23 million in January to 1.43 million in August.

Likewise, the Yearly Average Whale Transactions climbed from 1.20 million to 1.32 million. For comparison, TRX logged just 582k Monthly Whale Transactions in 2021.

Naturally, such consistent accumulation often signals long-term confidence from large investors.

Sellers overwhelm Spot market

However, sellers have dominated the spot market in recent days.

According to Coinalyze, TRON recorded a negative Buy-Sell Delta for three consecutive days. Over the past day, sellers have offloaded over 650 million TRX.