TRX (TRON) rose 1.37% in the last 24 hours.

Gate News Bot report, July 11, according to CoinMarketCap data, as of the time of writing, TRX (TRON) is currently priced at $0.29, having risen by 1.37% in the last 24 hours, with a high of $0.29 and a low of $0.28. The current market capitalization is approximately $27.911 billion, an increase of $377 million compared to yesterday.

TRON is a blockchain platform focused on decentralized business and community. Since its establishment in 2017, the TRON network has been dedicated to the two major concepts of decentralization and empowerment. TRON supports the development of decentralized finance and social applications, enabling developers and users to collaboratively achieve this goal. In December 2021, TRON transformed into TRON DAO, becoming a decentralized autonomous organization governed by the community, connecting an increasingly diverse blockchain ecosystem.

Important news about TRX recently:

1️⃣ REX Shares apply for TRON related leveraged ETF REX Shares has submitted an application to the U.S. SEC for the "T-REX 2X Long TRON Daily Target ETF." The fund aims to achieve a daily 200% leveraged investment return on TRX, obtaining risk exposure to TRON spot or derivatives through total return swap agreements. This move may attract more institutional investors' attention to TRON, helping to enhance the market visibility and liquidity of TRX.

2️⃣ Significant Increase in USDT Supply on TRON Network Tether has issued an additional 1 billion USDT on the TRON network, bringing the total issuance of USDT on the TRON network to 22 billion by 2025. This indicates that the TRON network's position as a stablecoin issuance and circulation platform is further consolidated, which may drive an increase in network activity and trading volume.

3️⃣ TRON ecosystem continues to expand The TRON network has recently welcomed several important integrations. Plume has launched SkyLink on TRON, implementing a protocol for the tokenization and distribution of real-world asset profits across the entire chain; at the same time, the meme coin TRUMP, supported by former US President Trump, has also chosen to issue on the TRON network. These initiatives reflect the diversified development of the TRON ecosystem and are expected to attract more users and developers.

From a technical perspective, the TRX price is currently hovering around $0.287, with a relative strength index (RSI) of 61, placing it in the bullish range. If the upward momentum is maintained, the next key resistance level is at $0.296. However, investors should remain cautious of potential pullback risks.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.