TRON, ApeCoin, and Decentraland Price Analysis: 10 May

There was a heavy sell-off in the crypto market in the past few days as Bitcoin shed value alongside global stock indices. TRON had been one of the few coins that had trended upward in the past week, but it fell beneath crucial support.

Timeline of Apecoin-ape, Decentraland, Tron

ApeCoin has surpassed Tether (USDT) and Loopring (LRC) as the third most purchased cryptocurrency after Ethereum (ETH) and USDC by the top-100 Ethereum wallet addresses. The post ApeCoin (APE) Becomes Third Most-Purchased Crypto by Top-100 Ethereum Wallets appeared first on BeInCrypto.

504,600,250 TRX tokens were purchased at an average rate of $0.07727 to bolster the USDD stablecoin reserves.  Tokens Bought To Bolster Reserves The team at Tron DAO, which is the world's largest decentralized autonomous organization, announced the almost $39 million purchase of TRXs to bolster its USDD stablecoin reserves as directed by the founder Justin Sun to back the stablecoin with $10 billion worth of digital assets.

Tron's native cryptocurrency TRX delivered an impressive weekly rally despite the market wide sell-off that has taken place in the last 4 days. However, it looks like TRX might be about to give into the selling pressure given the strong pullback it registered in the last 24 hours.

The Tron DAO reserves bought $38 million in TRX to protect the USDD stablecoin after it recently went live and got listed on a number of decentralized finance protocols so let's read more today in our latest Tron news. The Tron DAO reserves bought about $38 million in TRX to back the algorithmic stablecoin as

Ethereum's richest bagholders have been shuffling their altcoin stacks as ETH and the overall crypto markets teeter. According to data from whale-monitoring platform WhaleStats, Apecoin (APE), a token airdropped to members of the Bored Ape Yacht Club non-fungible token (NFT) community, is the most purchased altcoin among the biggest Ethereum whales at time of writing, The post Whales Are Quiety Accumulating ApeCoin, Loopring and Five Additional Ethereum-Based Altcoins, According to WhaleStats appeared first on The Daily Hodl.

On May 5, Tron's algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to back the algorithmic stablecoin, as the project aims to leverage a decentralized forex reserve

A wise man once said “Algorithmic stablecoins are fast becoming the norm – protocol-issued dollars coming to every blockchain.” Like a self-fulfilling prophecy, two days ago, Tron launched its USDD algorithmic stablecoin.

TerraUSD's (UST) growth over the last couple of weeks has brought a shift of sorts in the stablecoin world, with people now realizing the importance of decentralized stablecoins. Tron brings USDD Tron recently announced the launch of its own decentralized stablecoin USDD to capitalize on the innovative opportunity, and the same went live a day

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. The Crypto Fear and Greed Index stands at 23, meaning extreme fear.

The TRON(TRX) price escaped a three-month-long consolidation phase with a bullish breakout from the resistance trendline of the inverted flag pattern. The breakout rally tagged an overhead resistance of $0.09 and reverted to a retest phase; however, the RSI indicator suggests weakness in the bullish momentum despite a strong follow-up candle.