Cryptocurrency Tron has grown significantly amid the fall of major digital assets

Amid the decline in the major cryptocurrency markets, the Tron token TRX $0.35 TRON 7.88% Market capitalization $32.99 billion VOL. 24 hours $0.46 billion is showing growth, standing out against the backdrop of a decline in Bitcoin BTC $118,288.46 Bitcoin -0.23% Market capitalization $2.35 trillion VOL. 24 hours $1.75 billion , Ethereum ETH $3,828.01 Bridged Ether (StarkGate) -1.27% Market capitalization $0.1 billion VOL. 24 hours $2.3 billion , and Dogecoin DOGE $0.23 Binance-Peg Dogecoin -5.71% Market capitalization $0.58 billion VOL. 24 hours $0.34 billion . On Monday, the value of TRX rose by more than 2%, and the trading volume more than doubled to $ 1.47 billion over the past day.

The reason for this was the official disclosed sale of Tron Inc. The company filed a Form S-3 with the SEC (US Securities and Exchange Commission) on its intention to place securities worth up to $ 1 billion. The filing describes plans to issue shares, preferred securities, debt instruments, and warrants, and the company plans to use the proceeds primarily to purchase additional TRX tokens, replenish working capital, and other corporate purposes.

Thanks to the active strategy of Tron Inc. — a company that recently conducted a reverse merger with SRM Entertainment to enter the US exchange — TRX has now become the second fastest growing cryptocurrency of the day. Tron Inc. already owns more than 365 million TRX (over $ 119 million), making it the largest holder of this token.

At the time of writing, TRX was trading at $ 0.3271, up 18.7% over the month, while Tron Inc. shares fell by more than 4% after the main session, despite a 13% increase during the day.