TRON’s daily revenue achieved a new all-time high, but its price experienced a swift correction after reaching a 40-month peak.

On August 21, TRON (TRX) hit $0.165, a level not seen since April 2021. This surge was primarily driven by the SunPump meme coin enthusiasm as investors flocked to the Pump.fun competitor.

However, TRX quickly encountered heightened selling pressure as both long-term and short-term holders aimed to take profits. TRON declined by 5% over the past 24 hours and is currently trading at $0.151.

At present, TRX’s market cap stands at $13.16 billion, losing its 10th position to Cardano (ADA). The global crypto market cap has increased by 0.7% in the past day, reaching $2.23 trillion. While TRX saw a bearish correction, Bitcoin (BTC) surpassed the $60,000 mark.

Daily Revenue Milestone

According to a post by TRON founder Justin Sun, the network’s daily revenue hit $5.33 million on August 21, setting a new all-time high. Sun asserts that TRON’s revenue outperformed all other blockchains with this recent increase.

Yesterday, TRON’s revenue reached an all-time high of $5.33 million, ranking first among all blockchains. It’s still early. Let’s keep the momentum going. 💪

Despite the pullback, only 0.48% of TRX holders are currently at a loss, according to data from IntoTheBlock. About 12% of TRX holders are near their investment level, either at a minor loss or small gains. The remaining holders are seeing substantial profits on their TRX holdings.

Holder Statistics

Data indicates that the majority of TRX addresses, approximately 62%, have held their investments for over a year. Around 33% have accumulated the tokens between one and 12 months. The remaining 5% are traders with assets younger than a month.

According to crypto.news price data, the TRX Relative Strength Index (RSI) has cooled down from 85 to 38 over the past 24 hours. This indicator suggests that the token is currently oversold. If the selling pressure continues to decline, a price surge could be anticipated for TRX.

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