Harvard Backs TRON: TRX Price Soars 17%, Crypto Market Reacts
April 18, 2025
On April 18, 2025, Justin Sun announced that Harvard University would support TRON's development, igniting significant interest in the cryptocurrency market.
In the wake of this announcement, TRX's price surged to $0.14 by 11:00 AM UTC, reflecting a 17% increase driven by bullish sentiment.
Major cryptocurrencies like Bitcoin and Ethereum experienced slight price increases of 1% and 1.5%, respectively, indicating a positive spillover effect from TRON's news.
This event underscores the significant influence of institutional support on cryptocurrency markets and highlights potential trading opportunities in the AI and blockchain sectors.
Sustained trading volumes averaged 1.2 billion TRX per hour, with a notable 20% increase in transactions on the TRON network, totaling 3 million transactions within three hours post-announcement.
There was a 15% rise in unique TRON addresses interacting with the network within two hours of the announcement, indicating increased user engagement.
Other AI and blockchain tokens, such as Fetch.AI (FET) and SingularityNET (AGIX), also rose by 5% within the first hour, indicating a broader positive shift in market sentiment.
The correlation between TRX and AI-related tokens was evident, as similar bullish technical patterns were observed in FET and AGIX.
Technical analysis revealed that TRX broke above the $0.12 resistance level, achieving a high of $0.14, with the Relative Strength Index (RSI) climbing to 75, indicating overbought conditions.
The TRX/USDT trading pair on Binance experienced a 30% increase in volume, totaling 2 billion USDT traded, further demonstrating the market's reaction to the news.
Additionally, the TRX/BTC trading pair saw a 10% increase in volume, reaching 500 million TRX/BTC traded, reflecting heightened market activity.
The Moving Average Convergence Divergence (MACD) indicator confirmed a bullish trend with a crossover, suggesting continued upward momentum for TRX.
Summary based on 1 source
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Blockchain.News • Apr 18, 2025
Harvard University's Support for TRON Development Boosts Cryptocurrency Market | Flash News Detail