- TRX has seen growth in total addresses and has dominated the crypto market in terms of transaction volume, leaving Ethereum far behind.
- Staking activities on the Tron network have also experienced an increase in recent days, which appeared promising for the network: TRX’s staking rate exceeded 47%.
- Despite these developments around the TRX ecosystem, the growth has not translated into visible price movement. According to data, TRX’s price has only increased by 0.25% in the past 24 hours.
Tron (TRX) network has made progress, surpassing the Ethereum network in terms of daily transactions; Also, staking activities on the network are increasing.
Tron Network Makes Progress in Daily Transactions
Tron has witnessed renewed growth in accounts, demonstrating the pace of adoption. The total number of TRX addresses has increased significantly, surpassing Ethereum by a wide margin in terms of transaction volume. Tron staking has also seen an increase in recent days, which seemed promising for the network. However, the impact of these network statistics on price movement has not been fully realized, resulting in slow price growth.
According to TRONSCAN’s data, the total number of accounts on the blockchain has exceeded 173 million. In the last 24 hours alone, the number of addresses has increased by over 200,000. In addition to addresses, the total transactions on the blockchain have also experienced a significant increase. Within a day, Tron’s total transactions exceeded 4 million, bringing the total volume to 6.18 billion.
Tron has been well ahead of Ethereum in terms of daily transactions. While Tron has more than 5 million daily transactions, Ethereum has only been able to reach 1 million transactions, highlighting a significant difference.
Tron’s staking ecosystem has also seen growth in recent days. According to TRONSCAN, the total amount staked in TRX has increased. Currently, TRX’s staking rate exceeds 47%, with a staked market value of over $3.4 billion.
TRX Price Does Not Reflect These Achievements
Despite these developments surrounding the TRX ecosystem, the token’s price has not reflected the growth. According to data, TRX’s price has only increased by 0.25% in the past 24 hours. At the time of writing, TRX is trading at $0.07997 with a market capitalization of over $7.1 billion.
TRX’s Bollinger Bands indicate that the token’s price has entered a slightly less volatile range. The Chaikin Money Flow (CMF) has experienced a slight decline, indicating a bearish signal. Fortunately, Tron’s Relative Strength Index (RSI) was significantly above the neutral level. The Exponential Moving Average (EMA) Ribbon has shown a clear bullish dominance in the market, which could help boost the token’s price in the coming days.
There has been a decline in TRX’s social presence. The token’s social volume has decreased, indicating a decline in popularity. However, the weighted sentiment improved last week, suggesting positive sentiments surrounding the token in the market.
