Tron Burns 10 Million Tokens, Will TRX Price Dongkrak?

JAKARTA - Tron (TRX) made a surprising move by burning more than 10 million TRX tokens. This action not only shows Tron's commitment to deflation strategies, but also triggers speculation about the potential price increase of TRX in the future. However, how effective is this step in increasing token value?

In its latest action, Tron burned 10,136,282 TRX, which reduced supply by 809,558.11 US Dollars (Rp12.5 billion). By reducing token supply, Tron seeks to increase the scarcity expected to boost the price of TRX in the long term. This move creates a negative production ratio of -5,069,243, showing significant steps in its deflation strategy. This strategy aims to suppress TRX token inflation and maintain bullish momentum for investors.

According to Ambcrypto information, currently, TRX is trading at a price of 0.1623 US Dollars (Rp2,524) with an increase of about 0.98%. Technical analysis shows the presence of further growth opportunities. Relative Strength Index (RSI) indicators are at the level of 57.58, which is approaching the overbought region, but still provides room for TRX to rise. Stochastic Indicator at 66.63 also shows the presence of bullish momentum without signs of fatigue. Thus, TRX has the potential to continue its upward trend in the near future.

In recent weeks, Tron has recorded an increase in daily activity at active addresses, indicating growing interest among investors. Recent data show a 1.10% increase in active addresses over the past seven days, which strengthens the Tron ecosystem and increases its potential value in the future.

Although the technical indicators show positive momentum, the traders remain cautious. The Funding Rate ratio for TRX is close to zero, at a level of -0.0088%, reflecting the balanced sentiment between long and short (short) positions. This indicates that both bullish and bearish traders have the same view of TRX price movements in the short term.

The Long/Short ratio also shows that the short position is slightly more than the long position, with short reaching 54.11% compared to long at 45.89%. This illustrates the caution of traders who may be anticipating the volatility of the TRX price in the near future.