The price of Tron has risen by 2.5% in the past 24 hours, with the altcoin’s move to $0.2301 coming after founder Justin Sun announced that the token will soon be available on Solana.
TRON is now up by 4% in a week, and while the alt remains down by 6.5% in the past month, it retains a healthy 93% increase in the past year.
Sun’s announcement comes at a time when Tron has been losing ground to other layer-one networks, with the network now only the fifth-biggest in terms of total value locked.
But its coin’s integration with Solana could help boost its price, with the wider market’s recovery also likely to help with a recovery in the coming months.
Is Tron About to Become the Next Big Token? Justin Sun Teases Solana Integration
Posting on X, Justin Sun didn’t really give too much information away, only saying that “TRX will be soon on Solana.”
Taking this strictly at face value, his tweet would suggest that there’s soon going to be an SPL version of TRX.
How a Solana-based version of TRX would work isn’t entirely clear at this point, although it would likely involve bridging between Tron and Solana, while also holding Tron-based TRX in custody as backing for Solana-based TRX tokens.
No one associated with Solana is currently saying anything about any potential SPL-based TRX launch or integration, with the official Solana X account not mentioning anything.
And while the Tron price is up today, it perhaps hasn’t responded to the news as vigorously as holders would have liked.
Its chart today shows the coin regaining some momentum, although not that much.
Source: TradingViewFor instance, its relative strength index (purple) is dipping again after rising just above 50 this morning, a sign that its rally today may not have much staying power.
Similarly, its 30-day average (orange) has flattened after sloping down towards the 200-day (blue), with the possibility of further falls – and an eventual death cross – being something you can’t discount right now.
One positive sign is that TRX’s 24-hour trading volume has doubled in the past 24 hours, from around $800 million yesterday to $1.6 billion today.
This is a possible indicator that its rise today could continue, although the wider market and macroeconomic environment still looks poor, so any rally isn’t likely to last beyond one or two days.
Assuming that things do pick up (e.g. the US climbs down from its tariff war soon), TRX could reach $0.25 next month, before returning to $0.30 by H2.
Newer Alts May Have More Potential
A cynic might argue that Justin Sun is mostly trying to jump on the Solana bandwagon and restore some of Tron’s flagging appeal.
If this is the case, some traders may prefer to diversify into other alts, with several presale coins looking very promising at the moment.
Probably the most impressive of all is Solana-based layer-two platform Solaxy (SOLX), which has now raised a whopping $27 million in its hugely popular presale.
As Solana’s first L2 network, Solaxy will deliver very fast transactions and very low fees, addressing Solana’s ongoing issues with delays and dropped transactions.
Solaxy will also offer instant bridging between itself and Solana, while compatibility with other networks will follow in the weeks following its launch.
It’s aiming to become a popular platform for meme tokens, which continue to be one of the biggest fixtures in crypto, especially on Solana.
What’s also bullish is that it already has more than 70,000 followers on X, which is impressive for a token that hasn’t even launched yet.
Its sale will end soon, but investors can still join by going to Solaxy’s official website and connecting a supported wallet, such as Best Wallet or MetaMask.
It’s currently selling at $0.001638, but this will rise in just over a day, so new investors should act quickly.
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