Tron's Staked ETF to List on Cboe September 9, Triggers Institutional Flows
Tron's staked TRXS ETF is set to list on Cboe starting September 9, according to Tron founder Justin Sun. The listing was confirmed by Bloomberg analyst Henry Jim, who noted that the ETF will trade under the ticker TRXS.
The price of TRX is currently at $0.34, which is testing its upper Bollinger resistance. Meanwhile, the Relative Strength Index (RSI) sits at 65.12 and the Moving Average Convergence Divergence (MACD) has registered a golden cross. This technical setup suggests that the price may pull back towards the EMA50 support level at $0.33 before continuing higher.
The listing of the staked Tron ETF on Cboe is expected to draw institutional flows, which will directly inform near-term TRX price prediction models. As the price action becomes more influenced by these institutional investors, it's essential for traders and investors to stay vigilant and adjust their strategies accordingly.