- The total accounts on the Tron network exceeded 160 million.
- Market indicators revealed what went in TRX favor, causing it to propel its prices.
Трон [ТРКС] outperformed other networks and has climbed up the ladder on the list of the top cryptos by TVL. As per Tron Community’s latest tweet, Tron was only second to Ethereum [ETH], beating other major players like BNB Chain [BNB], Polygon [MATIC], and Arbitrum [ARB].
#ТРОН has secured the second position in terms of Total Value Locked (TVL), surpassing #БСЦ, #Арбитрум, и #Полигон, and is only behind #Етхереум ???? pic.twitter.com/JDxIO6d9oB
— ТРОН заједница (@ТроникТрк) Може 16, 2023
Читати Трон'с [ТРКС] Прице Предицтион 2023-24
Tron adoption hits new milestone
Apart from this, Tron also continued to make leaps in terms of adoption. TRONSCAN’s tweet revealed that the number of total accounts on the Tron network exceeded 160 million. This looked quite encouraging, as it reflected increased usage on the blockchain.
🎉🎉🎉Честитамо!!! #ТРОНУкупни рачуни су достигли 160,165,659, премашујући 160 милиона! #ТРОН екосистем се брзо развио и наставља да чини напоре на децентрализацији веба.
🥰 Хвала свима #ТРОНИЦС! pic.twitter.com/QdIvNvsIOr
— ТРОНСЦАН (@ТРОНСЦАН_ОРГ) Може 16, 2023
Despite these achievements, TRON witnessed a massive downtrend in its staking ecosystem. TRONSACAN’s подаци revealed that the total TRX staked went down sharply on 13 May. At press time, it had a staking ratio of 47.58%.
TRX has seen better days
Though bearish sentiment dominated the crypto market last week, TRX’s performance was decent. According to ЦоинМаркетЦап, TRX’s price increased by more than 2% in the last seven days.
At the time of writing, TRX was trading at $0.07088 with a market capitalization of over $6.4 billion.
A look at TRX’s daily chart sheds light on what happened last week.
TRX’s Exponential Moving Average (EMA) Ribbon revealed that the bulls were ahead in the market as the 20-day EMA was resting above the 55-day EMA. The Relative Strength Index (RSI) and Money Flow Index (MFI) also moved upwards last week, which was a development in the buyers’ favor.
Interestingly, things can get even better, as the MACD displayed a bullish crossover on 16 May. Nonetheless, the Chaikin Money Flow (CMF) registered a slight downtick, as has the MFI, which could cause trouble in the near term.
Which way is the wind blowing?
Thanks to TRX’s performance over the last week, positive sentiment increased. This was evident from the improvement in its weighted sentiment.
Not only that, but Tron’s social volume also increased slightly last week, reflecting its increased popularity in the crypto space.
Колико су Данас вреди 1,10,100 ТРКС
It was also interesting to see that, despite multiple reds through the week, TRX’s demand in the derivatives market finally increased, as suggested by the Binance funding rate.
Additionally, TRX’s open interest rose marginally over the last few weeks as well. This suggested that the current price trend might continue for some time.
Source: https://ambcrypto.com/tron-trx-beats-its-peers-to-the-punch-with-these-new-milestones-details-here/