- TRON (TRX) is now listed on Japan’s largest crypto exchange, Bitbank, expanding its presence in the Asian market.
- TRX price saw a minor rise post-listing, but overall market volatility keeps long-term effects uncertain.
- Momentum Signals Mixed Trends – RSI at 49.03 indicates neutral momentum, while MACD suggests bearish pressure may be weakening.
The cryptocurrency market received a major development as TRON (TRX) became officially available on the largest Japanese cryptocurrency trading platform Bitbank. TRON founder Justin Sun via social media platform revealed the news about the listing announcement.
The exchange listing of TRX with Japan’s Bitbank represents an important step for TRX adoption across the entire Asian market including Japan. TRX gains accessibility to Japanese investors through its listing on Bit Bank because users now trade the currency with yen together with digital currencies listed on the platform. This enhances TRX’s market liquidity and daily trading activity.
Potential Market Impact of TRX Price on Listing
As of press time, TRON (TRX) is worth $0.2238 which is equal to ¥34.23, which is a 1.8% increase from an hour ago and a 7.7% decline since yesterday. The value of TRX today is 9.2% lower compared to its value 7 days ago. In the last 24 hours, the total volume of TRON traded was $3.058 billion worth ¥471,230,188,461.
Market analysts suggest that the short-term impact on TRX’s price could be positive, as increased accessibility may drive buying pressure. The long-term effects on TRX price remain uncertain because cryptocurrency markets show high volatility. TRX will probably experience short-term price growth following substantial trading volume increases but will maintain a new stabilized price.
TRX Indicators and Momentum Analysis
The recent decline in 24-hour trading volume, down by 9.2%, reflects low market activity. This sharp decrease indicates speculative buying, typical in volatile market conditions. Significantly, the RSI is currently trading at 49.03 suggesting a neutral momentum.
The MACD line is trading slightly below the signal line signaling bearish momentum. On the other hand, MACD histogram shows slight shrinking, suggesting that the strength of the bearish trend may be weakening. Hence, a potential shift in momentum could occur if the RSI and MACD begin to recover.
The listing of TRX on Japan’s largest exchange underscores its growing presence in regulated markets. While the immediate price effect remains to be seen, the increased exposure could play a role in TRX’s long-term market positioning.
