Tron has experienced a notable rise in its daily active users, exceeding 2.5 million, showcasing significant network engagement and development. The surge in TRX's user base highlights an increased level of popularity and widespread utilization in the crypto industry.
Tron's Recent Milestones
Recent performance metrics for Tron have been impressive, achieving several milestones and maintaining a positive trajectory in its weekly pricing. The blockchain has witnessed an upsurge in network activity and demonstrated commendable financial success.
Thriving Tron Network Activity
In a recent announcement by IntoTheBlock, a notable development on the Tron blockchain was disclosed. Current reports indicate approximately 2.5 million active Tron addresses, a significant increase from the beginning of the year. This surge underlines the extensive adoption and usage of Tron, surpassing active addresses on major Layer 1 blockchains.
Analysts, driven by these positive indicators, have investigated TRX's network performance using Artemis' data. Their findings reveal a consistent increase in TRX's daily active addresses in the past month, coupled with a similar uptrend in daily transactions on the network.
Apart from the spike in network engagement, the recorded value metrics for TRX present an encouraging outlook. The rise in TRX fees and income in recent times indicates a promising financial future for the blockchain.
Increasing Popularity in LATAM
TRON's popularity has been steadily growing in Latin America, especially with the increasing acceptance of USDT in the region. Recent reports highlight that nearly half of Uquid users in LATAM opt for the TRON network, emphasizing its expanding influence.
Amidst these market dynamics, TRX continues to maintain a positive position as one of the select cryptocurrencies in the top 20 with a favorable weekly performance. Data from CoinMarketCap shows a growth of over 5% in TRX's price in the past week. Currently, TRX ranks eleventh in the cryptocurrency market, with a valuation of approximately $10.87 billion and a trading price of $0.1247.
The rising long/short ratio for TRX, indicating a predominantly bullish market sentiment, has instilled confidence among investors.
Technical Analysis and Price Speculations
Technical indicators for TRX suggest an optimistic outlook. The MACD signal displays a pronounced bullish trend, and the Chaikin Money Flow (CMF) has significantly increased, hinting at a sustained price upturn.
However, TRX's price has breached the upper Bollinger Bands limit, signaling a potential price correction ahead. If such a correction occurs in the coming days, TRX's price could drop to $0.115, leading to significant liquidation. Conversely, if the bullish trend persists, investors might witness TRX reaching $0.13 in the near future.
