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Tim Hakki
Author
Tim Hakki
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Why Trust Cryptonews
Tron ($TRX) holders are counting their lucky stars this week. Their token is up 18.4% from its price this time seven days ago as it trades at $0.156 as of this writing.
In terms of intraweek gains, this dwarfs the advances made by the two undisputed market leaders.
Original cryptocurrency Bitcoin ($BTC), which has a market capitalization of $1.2 billion dollars, only added 4.7% to its value over the week and currently trades at $61,135.
$ETH, the token underpinning the most commercially important blockchain Ethereum, only added 1.7% over the week and currently trades at $2,670.
A busy news cycle has helped propel Tron’s $TRX token, which is now just 33% short of recapturing its all-time high (ATH) of $0.2317, set on January 5, 2018.
On Wednesday, one X tweeter accused Justin Sun of removing a large amount of Bitcoin backing Tron’s dollar-pegged stablecoin USDD from the collateral wallet.
Justin Sun hit the platform later in the day to explain that withdrawing money from the stablecoin vaults is “not mysterious” and any collateral holder has the freedom to withdraw some funds when the stablecoin is over-collateralized. He also hinted at major upcoming USDD upgrades.
Yesterday, Tron’s new meme coin launchpad SunPump beat the established Solana alternative Pump.fun in most meme coins created over 24 hours.
Will TRX Keep Its Gains?
Tron’s $TRX token’s performance this week highlights the fact that market-leading tokens can still easily break free of the Bitcoin peg and post explosive, independent gains as a result of positive announcements.
$TRX broke out of a $0.14 resistance and hit $0.165 on Wednesday. Still, although it has since retreated from there, the token is far above its mid-to-late summer support level of $0.12.
With a climbing relative strength index (RSI) of 59, $TRX may rebound up and consolidate its hold on $0.16 over the weekend.
As Sun Tron’s $TRX Pumps, Crypto All-Stars Enjoys $697,000 Launch
The $13.5 billion market cap Tron is an impressive Layer 1 coin that is often touted at a so-called “Ethereum killer”.
As Tron’s newly established meme coin launchpad SunPump reveals, the $42 billion meme coin sector is entrenching itself into the future of crypto.
Those looking for the catalytic gold rushes of the early days of meme coins in order to diversify their holdings could do a lot worse than to check out some of the innovative pre-sales that are quietly attracting millions.
One project pioneering a unified staking protocol for meme coin fans is Crypto All-Stars, represented by the $STARS token.
Crypto-All Stars is a revolutionary staking platform that brings together the most celebrated meme coins in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 2,116%.
To that end, the team has allocated 20% of the tokens for its presale; the other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.
This new meme coin project has gained so much popularity that its presale has already raised $638,450 since its launch last week.
Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.
So, if you are a meme coin holder who wishes to put your money to work, Crypto All-Stars is a better option than SUn Wukong. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all their development plans.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
