Since early 2023, the price of Tron (TRX) has been gradually rising despite temporary market corrections. The TRX ecosystem continues to strengthen.
Tron's Recent Achievements
The Tron network has grown to a vibrant web3 ecosystem with more than 153 million holders. According to analytics, Tron is the second-largest web3 ecosystem after Ethereum in terms of funds locked. Currently, Tron has over $7.4 billion in total value locked (TVL) and a stablecoin market cap exceeding $60 billion.
Revenue Increase and Meme Coins
On October 15, Tron network reported a $7.28 million revenue, marking a 170 percent increase compared to the same time last year. This revenue increase is largely attributed to the growing meme coin market, led by Sundog (SUNDOG), with a market cap of over $373 million.
Technical Analysis and Price Forecasts
From a technical analysis standpoint, TRX's price against the US dollar is on the cusp of a major bullish breakout. Since 2018, the price has been forming an ascending symmetry triangle, gaining significant bullish momentum. A breakout above 2021’s ATH could propel TRX's price toward 30 cents.
Although TRX underperformed in the previous bull market, current growth and ecosystem development suggest significant future potential.