TRON’s market momentum has eased after a recent rally that pushed its price above $0.365, with the asset now trading at $0.355, representing a 1.76% drop over the past 24 hours.
According to CryptoQuant contributor Burak Kesmeci, the current TRX futures market remains in a neutral position, suggesting that the asset may still have room to advance before approaching a local top.
At present, Kesmeci notes that the indicator has not entered the high-risk zone, meaning TRX has not yet reached levels of speculative saturation. This, in theory, leaves space for further price increases if current market trends persist.
A balanced outlook, however, would also consider that futures market conditions can shift quickly. If trading volume or open interest begins to rise sharply alongside price, the risk of a pullback could grow. For now, the neutral futures environment combined with moderate spot market activity provides a base for potential incremental gains.
A closer breakdown of these transactions indicates that this surge was not the result of organic user demand but was instead tied to operational movements between a small group of large wallets.
The data shows that two back-and-forth transfers of 612 million TRX each between two addresses accounted for around 36% of that day’s total value, fitting the pattern of a hot-to-cold wallet rebalance often associated with exchanges.
Additional chains of transfers, including fixed-denomination movements of between 3 million and 7.5 million TRX, also align with common exchange deposit and withdrawal processing.
While over 85% of the day’s total transfer volume was traced to this interconnected wallet cluster, both Arkham and Tronscan list no official ownership labels for the addresses.
Compared with a similar event in June 2023, the July 19 spike occurred within a broader trend of increasing transactions per second (TPS) and total transaction volume in 2025.
Featured image created with DALL-E, Chart from TradingView
