Justin Sun tonight posted on X: "TRX ETF coming soon"—he shared Canary’s teaser, and even the SEC filing was posted. On the same day, Japanese exchange bitFlyer also announced it would list TRX. Two catalysts in one night, and the timing was perfectly aligned.
But take a look at the order book: $TRX ’s price barely moved. The funding rate is still negative, and the large trader long/short ratio is 0.85. The news is hot, but the money is staying calm.
In my view, there are two possibilities: either the market doesn’t consider "coming soon" to be valid and will wait until it actually goes live; or it just hasn’t fully reacted yet. Which one it is—I can’t say for sure.
What I’ll watch next is just one thing: volume. If volume ramps up, then these two catalysts will be absorbed; if it doesn’t, then all the excitement is just noise.
News gives the direction; trading volume gives the answer.
$TRX
But take a look at the order book: $TRX ’s price barely moved. The funding rate is still negative, and the large trader long/short ratio is 0.85. The news is hot, but the money is staying calm.
In my view, there are two possibilities: either the market doesn’t consider "coming soon" to be valid and will wait until it actually goes live; or it just hasn’t fully reacted yet. Which one it is—I can’t say for sure.
What I’ll watch next is just one thing: volume. If volume ramps up, then these two catalysts will be absorbed; if it doesn’t, then all the excitement is just noise.
News gives the direction; trading volume gives the answer.
$TRX
