Harvard Backs TRON: TRX Price Soars 17%, Crypto Market Reacts

April 18, 2025
Harvard Backs TRON: TRX Price Soars 17%, Crypto Market Reacts
  • 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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