spot_imgspot_imgspot_img

TRON Surpasses Ethereum in Daily Transactions!

  • 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-trx

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Profitability Soars to 97%, Highest in Over Two Years

Bitcoin's remarkable price surge has propelled the majority of BTC addresses into a profit zone not seen in over two years, highlighting the cryptocurrency's strong market performance and promising future.

Morgan Stanley Eyes Bitcoin ETFs for Indirect Crypto Exposure

Morgan Stanley's recent SEC filing to gain Bitcoin exposure through ETFs marks a significant step towards integrating cryptocurrencies into traditional investment portfolios, potentially boosting the adoption and price of Bitcoin.

Bitcoin ETF Surge: BlackRock and Fidelity Lead with 79% of Inflows into the ‘Newborn Nine’

This article delves into the explosive growth of Bitcoin ETFs, highlighting the market dominance of BlackRock and Fidelity, the impact of fee reductions among competitors, and the broader implications for the cryptocurrency investment landscape.

Bitcoin, The 21st Century’s Berkshire Hathaway, Says SkyBridge’s Scaramucci

In a bold statement, Anthony Scaramucci of SkyBridge Capital compares Bitcoin to Berkshire Hathaway, suggesting that the cryptocurrency holds significant long-term value and wealth generation potential akin to the conglomerate led by Warren Buffett.

XRP Token Burning Hits Record High as Prices Surge!

In an intriguing development, the XRP Ledger has experienced an abnormal spike in token burning, coinciding with a robust rally in XRP prices, reflecting heightened activity and interest in the cryptocurrency.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Bitcoin Profitability Soars to 97%, Highest in Over Two Years

Bitcoin's remarkable price surge has propelled the majority of BTC addresses into a profit zone not seen in over two years, highlighting the cryptocurrency's strong market performance and promising future.

Morgan Stanley Eyes Bitcoin ETFs for Indirect Crypto Exposure

Morgan Stanley's recent SEC filing to gain Bitcoin exposure through ETFs marks a significant step towards integrating cryptocurrencies into traditional investment portfolios, potentially boosting the adoption and price of Bitcoin.

Bitcoin ETF Surge: BlackRock and Fidelity Lead with 79% of Inflows into the ‘Newborn Nine’

This article delves into the explosive growth of Bitcoin ETFs, highlighting the market dominance of BlackRock and Fidelity, the impact of fee reductions among competitors, and the broader implications for the cryptocurrency investment landscape.