Justin Sun’s Tron token is in a tight range as the ongoing crypto sell-off continues, with Bitcoin falling below $60,000.
Similarly, Tron Bull Coin, Muncat, Suncat, and Vikita have fallen by more than 30% in the same period. The only SunPump meme coins doing well were Tron Bull and Tron Beer, which have jumped by over 16% and 40%.
Tron’s DEX volume has also moved to $425 million, making it the 9th biggest player in the industry. It has been passed by newer chains like Sui and Base, which handled $700 million and $4.5 billion in the last seven days.
Tron is also the most profitable chains in the crypto industry, with over $1.37 billion in fees this year. Its third-quarter revenue rose to $577 million, higher than Bitcoin and Ethereum.
Tron price has stalled
Tron rose to a record high of $0.1690 on Aug. 26, and has dropped by 8.83%. It has remained above the 50-day and 25-day Exponential Moving Averages, meaning that bulls are in control for now.
However, signs indicate that it has formed a bearish flag chart pattern, a popular risky sign. If this pattern works out, Tron will likely slip to the key support at $0.1450, the highest swing in February this year.
