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TRON EXPLODES! Daily Transactions Hits 6.75 M, Price Soars 14%

Published by
Mustafa Mulla

Defying the crypto crash! TRON has emerged as a standout performer in the cryptocurrency landscape, demonstrating impressive growth throughout June and maintaining its stability during the early July sell-off. Since hitting a low of $0.11 in April, TRON’s price has surged more than 14%, peaking at $0.134.

Recent analysis from Market Analyst CryptoBusy highlights a significant rise in TRON’s transaction activity, with daily transactions averaging approximately 6.75 million. This uptick in network adoption signals bullish sentiment in the crypto market, reflecting growing confidence and engagement with the TRON platform.

TRON’s Expanding Ecosystem

TRON’s ecosystem is flourishing, marked by a notable increase in daily transactions. With an average of 6.75 million transactions per day, TRON is not only gaining traction but also showcasing its expanding utility and popularity among users.

In the competitive world of blockchain, TRON distinguishes itself with over 2.2 million active addresses—outpacing its competitors. Ethereum, by contrast, has 401,000 active addresses, while Solana, BNB Chain, and Arbitrum collectively account for 2.3 million active addresses.

TRON’s strength extends beyond its active user base to its Total Value Locked (TVL) within the ecosystem. Despite hosting only 34 decentralized applications (dApps), TRON boasts an impressive TVL exceeding $7.47 billion, positioning it as the second-largest player in DeFi, trailing only Ethereum.

Justin Sun’s Vision: A Promising Future

TRON’s founder, Justin Sun, remains optimistic about the TRX token and its ecosystem, despite its current undervaluation. Sun envisions TRON continuing to thrive, cementing its role as a pivotal blockchain network in the industry.

A prime example is its role in handling over $40 billion in stablecoin transactions daily. Some days, Tron processes more stablecoins than Visa and Mastercard combined.

However, data from DeFi Llama shows Tron holds over $58 billion in stablecoins, mostly Tether. This accounts for more than 60% of Tether’s total market value of over $115 billion, making Tron second only to Ethereum, which holds over $78 billion in stablecoins.

Tron Price Analysis

Recently, TRON’s price has been on an upward trajectory, surpassing $0.13—a crucial threshold for July. The price has also remained above the 50-day and 200-day moving averages, signaling strong market control by buyers.

Given these positive trends, TRON’s price is poised to potentially reach the year-to-date high of $0.18, representing an 8% increase from its current level. Breaking through this resistance could lead to further gains, reflecting growing optimism among investors and traders.

Also Read : Bitcoin Rejected From Crucial Levels: Is the BTC Price Rally Flipping Back to Support?

TRON may not be the flashiest crypto, but its numbers are hard to ignore. What do you think?

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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