The short version
- Tron price stuck at $0.3199 while Bitcoin rose 3.9% and Ethereum 6.2% in a day; TRX is still 3% under its pre-hack level.
- The Binance hacker has moved all 684.6 million TRX out of its collector wallet in 1,113 transfers to 220 addresses, and those have passed nearly all of it on again.
- Anchorage’s ‘TRX custody is live’ post repeated a March launch; staking and TRC-20 custody went live in July.
- Next: $0.3312 resistance above, Saturday’s $0.3020 low below.
Bitcoin is up 3.9% in a day and Ethereum 6.2%. The Tron price has gone nowhere: TRX trades at $0.3199 at the time of writing, down 0.6%, and still 3% under where it stood before the Binance hack.
The rally skipped TRX for a reason you can see onchain. The Binance hacker, who bought 638.2 million TRX on October 29, has now moved every last coin out of the wallets we tracked last week. So is the overhang gone, or just harder to see?
Where Did the Hacker’s TRX Go?
Out into hundreds of fresh wallets. The last untouched pile, 158.2 million TRX in one address, moved at 18:44 UTC on October 31 into the hacker’s collector wallet. That wallet has paid out 684.6 million TRX in 1,113 transfers to 220 addresses since October 30, and it was empty by 05:33 UTC on Sunday, November 1, according to TronGrid data.
Those 220 wallets didn’t sit still either. Together they hold about 40,000 TRX today, so almost all of it has been passed on again, often in small lots. That is the usual way to blur a trail before cashing out through OTC desks or exchanges.
How much has been sold can’t be read from the chain. The order book gives a hint, though. Binance traded $142 million of TRX on October 30, more than five times a normal day, and $64 million on November 1, the day the collector emptied. On Wednesday volume was back to $37 million. The heavy selling days line up with the TRX price falling from $0.3524 to $0.3038 in two daily closes, and the quiet ones with the slow bounce since.
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Did the Anchorage News Move TRX?
No, and it shouldn’t have. Anchorage Digital, the first federally chartered crypto bank in the US, posted on Wednesday night that TRX and TRC-20 custody is live:
Access to one of the most active networks in digital assets, through America's first federally chartered digital asset bank.
TRX and TRC-20 custody is live at Anchorage Digital Bank.
@trondao 🤜🤛 @Anchorage
Justin Sun reposted it on Thursday. But Anchorage added TRX custody in March and said in its July 14 release that staking and TRC-20 custody were live too. TRC-20 is TRON’s token standard, the format of the USDT that runs on the network.
So this was a reminder, not a launch. Traders treated it that way.
Tron Price Analysis: Can TRX Get Back Above $0.33?
Not yet. The bounce from Saturday’s $0.3020 low, the lowest since March, stalled at $0.3242 on Tuesday. TRX sits under both its 50-day MA at $0.3323 and its 200-day MA at $0.3336, and the 50-day has just slipped under the 200-day.
- Resistance: $0.3312. The pre-hack range top, right under both moving averages.
- Support: $0.3020. Saturday’s low, the floor the scatter sell-off found.
SIDE TRAIL: TRX Price Falls Below Its Pre-Hack Level as the Binance Hacker Splits Up 451M TRX
The hacker’s coins are no longer in one place a tracker can watch, which cuts both ways: no single wallet left to dump, and no warning before the next lot hits an exchange. Solana, BNB and XRP all rose between 2.7% and 3.8% in the past 24 hours, while the Tron price slipped.
What’s left to watch is 684.6 million TRX, about $219 million at today’s price, spread across wallets nobody has labelled yet. A daily close under the $0.3020 low would be the lowest for TRX since March.
Satoshi Flipper has more than 20 years of trading experience, starting in stocks before moving into crypto in 2017, and holds an MBA from the Kellogg School of Management. The edge is reading the economic data: rate decisions, inflation, jobs numbers, earnings and the US markets that move Bitcoin.
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