The TRON network is experiencing significant change, reaching a record of 11.1 billion transactions. This increase in activity is accompanied by positive market sentiment for the TRX token.
Transaction Growth Reflects Strong Network Use
Data from CryptoQuant shows that the total number of transactions on the TRON network has been growing since 2018. Daily counts range between 6 million and 9 million, with historic spikes above 12 million in late 2022 and early 2023. This data indicates strong network adoption despite occasional slowdowns.
Technical Indicators Show Caution Despite Bullish Channel
According to TradingView, TRON has shown an upward trend since mid-June. Currently, the token is priced at $0.35542, representing a slight daily dip of 0.66%. Stochastic RSI readings suggest a potential short-term pullback, while continued buying pressure remains significant.
Prospects and Risks in the TRON Market
Despite strong fundamentals and high network activity, the concentration of investments by large investors may increase market volatility. The potential for further growth in TRON is analyzed, while maintaining caution in investments.
In light of the increasing activity and transactions, TRON shows potential for further development. However, investors should be aware of risks associated with market volatility.
