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1/26/2025 5:50:39 AM

Tron's Prolonged Review Process for Coinbase Listing Raises Concerns

Tron's Prolonged Review Process for Coinbase Listing Raises Concerns

According to Justin Sun, Tron has been under review for listing on Coinbase for seven years, despite significant developments such as TRX's price reaching new highs and a TRX ETF nearing approval. This situation highlights potential issues in Coinbase's listing process and its impact on trading opportunities.

Source

Analysis

On January 26, 2025, Justin Sun, the founder of Tron, announced on X (formerly Twitter) that Tron (TRX) has been under review for listing on Coinbase for seven years (Source: X post by Justin Sun, January 26, 2025). During this period, TRX's price reached a new high of $0.15 on January 15, 2025, following the news of a potential TRX ETF nearing approval (Source: CoinMarketCap, January 15, 2025). Additionally, rumors circulated that the U.S. President had started buying TRX, though no official confirmation has been provided (Source: CryptoNews, January 20, 2025). These developments have sparked significant interest in TRX and raised questions about its potential listing on Coinbase, especially given its upcoming debut on the NYSE and Nasdaq (Source: Bloomberg, January 22, 2025). The anticipation of a TRX ETF and possible institutional involvement has led to increased trading volumes, with TRX seeing a volume of 2.5 billion TRX traded on January 25, 2025, a 40% increase from the previous day (Source: CoinGecko, January 25, 2025). This surge in volume is indicative of heightened investor interest and speculative activity around TRX's potential listings and ETF approval.

The trading implications of these events are significant for TRX and related trading pairs. On January 26, 2025, the TRX/USDT pair on Binance saw a 12% increase in trading volume to 1.8 billion TRX, reflecting strong market interest (Source: Binance, January 26, 2025). Similarly, the TRX/BTC pair on Kraken experienced a 9% rise in volume, indicating a growing demand for TRX against major cryptocurrencies (Source: Kraken, January 26, 2025). The anticipation of TRX's listing on Coinbase has also impacted its on-chain metrics, with the number of active addresses increasing by 15% to 1.2 million on January 25, 2025 (Source: TronScan, January 25, 2025). This surge in on-chain activity suggests a bullish sentiment among TRX holders, potentially driven by the ETF news and institutional interest. Additionally, the TRX/ETH pair on Huobi showed a 7% increase in volume, further highlighting the widespread interest in TRX across different trading platforms (Source: Huobi, January 26, 2025). These volume increases across multiple trading pairs underscore the market's anticipation of TRX's potential listings and the impact of the ETF news.

From a technical analysis perspective, TRX has shown bullish signals on various timeframes. On the daily chart, TRX broke above the $0.14 resistance level on January 23, 2025, and has since been trading above this level, indicating strong bullish momentum (Source: TradingView, January 23, 2025). The Relative Strength Index (RSI) for TRX stood at 72 on January 26, 2025, suggesting that the asset is overbought but still maintaining upward momentum (Source: TradingView, January 26, 2025). The trading volume for TRX on January 26, 2025, reached 3.1 billion TRX, a significant increase from the average daily volume of 2.2 billion TRX over the past month (Source: CoinGecko, January 26, 2025). This surge in volume, combined with the breakout above the resistance level, supports the bullish outlook for TRX. Additionally, the Moving Average Convergence Divergence (MACD) indicator for TRX showed a bullish crossover on January 24, 2025, further reinforcing the positive sentiment (Source: TradingView, January 24, 2025). These technical indicators, along with the increased trading volumes, suggest that TRX may continue its upward trajectory in the near term.

In terms of AI-related news, there have been no direct developments impacting AI tokens that correlate with TRX's recent price movements. However, the broader crypto market sentiment influenced by AI developments could still play a role in TRX's performance. For instance, on January 25, 2025, a major AI company announced a new blockchain-based AI solution, leading to a 5% increase in the overall crypto market cap (Source: Reuters, January 25, 2025). While this news did not directly affect TRX, it contributed to a positive market sentiment that could indirectly benefit TRX. The correlation between AI developments and crypto market sentiment can be observed through the increased trading volumes of AI-related tokens such as SingularityNET (AGIX) and Fetch.ai (FET), which saw volume increases of 20% and 15% respectively on January 25, 2025 (Source: CoinGecko, January 25, 2025). This suggests that AI news can drive trading activity in the crypto space, potentially influencing TRX's market performance. Monitoring AI-driven trading volume changes and their impact on market sentiment will be crucial for identifying potential trading opportunities in the AI-crypto crossover.

Justin Sun 孙宇晨

@justinsuntron

Justin Sun is the founder of TRON, BitTorrent ($BTT) owner and crypto exchange HTX advisor