Tron Whales Transfer Over 3B Trx To Justlend Dao As Trx Price Rallies

TRON JustLend DAO received inflows of more than 3 billion TRX from whales, boosting the protocol liquidity and hinting at further price growth for TRX. The token has risen above $0.15, with expectations of reaching $0.20 amid DeFi expansion

Whale activity on the TRON blockchain has caused a stir as JustLend DAO, TRON’s largest DeFi protocol, received inflows totaling over 3 billion TRX in a series of transactions. According to blockchain data, four large deposits were made, with two of them exceeding 1 billion TRX each. The total value of these deposits amounts to over $465 million, significantly expanding the liquidity available in JustLend.

The inflows come amid a wave of TRX price appreciation. TRX has recently broken past the $0.15 mark and is showing bullish signs, with analysts expecting the price to push toward $0.20 in the near term. TRX has been steadily gaining momentum since its value was under $0.10 at the end of 2023, and its recent surge has outperformed many other tokens in a sluggish crypto market.

These whale deposits follow a series of transactions by TRON’s founder, Justin Sun, who has been actively moving TRX in and out of JustLend DAO since late September. The recent activity boosts confidence in TRON’s DeFi ecosystem, with the DAO now holding over 14.31 billion TRX as collateral.

While the TRON community speculates on the motivations behind these large deposits, many believe this is a sign to watch for a potential price breakout. JustLend continues to be a major contributor to the value locked on TRON, with the protocol itself managing reserves totaling nearly $7 billion.

The price of TRX has been on an upward trajectory, buoyed by daily token burns and its position as a core asset in TRON’s DeFi ecosystem. As TRX continues to burn 2.64% of its supply annually, its circulating supply is tightening, further supporting price appreciation.

In a broader market context, TRX has gained ground while other major crypto assets like Bitcoin and Ethereum have experienced slowdowns. With the introduction of WBTC on the TRON chain starting October 8, liquidity on TRON is expected to grow even further, potentially driving more interest in the TRX token.

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