TRON’s average USDT transfer volume increases, rising from $4,273 in June 2023 to $9,718 by December 2024. Can Tron price show a recovery towards ATH from here?
This represents a significant 127% growth over the period. The data exhibits fluctuating trends, with consistent peaks and troughs seen throughout the timeline.
A sharp rise in volume has been observed from June 2023 to October 2023, followed by a dip in November and a steady climb into early 2024.
Transfer volumes peaked prominently in March and April 2024, increasing market activity.
The consistent growth trend in the latter half of 2024 suggests TRON could maintain this trajectory into 2025.
Patterns reveal increasing transactional confidence among users, bolstering TRON’s ecosystem.
– Advertisement –
The absence of mint/burn influence strengthens these findings, highlighting pure transfer activity.
The Total Number of TRON Accounts Exceeded 280 Million, Can Tron Price Rise?
The total number of TRON accounts exceeded 280 million, signaling growing adoption and network activity.Increased transactional activities reflect heightened user confidence and ecosystem expansion.
The absence of mint/burn effects highlighted genuine transfer demand.The sustained growth suggested potential impacts on TRON’s price futures,which could reflect increased usage across its ecosystem.
If this trend continued, TRON’s price activity would remain bullish due to growing network utility.
The chart exhibits Tron’s (TRX) price movement within a descending channel pattern, marked by lower highs and lower lows, suggesting bearish momentum.
Recently, TRX’s price has approached the channel’s lower boundary, indicating potential support around $0.256.
The highlighted descending trendline above the price reflects resistance. A breakout above this trendline, signified by the upward arrow, could signal a bullish reversal.
Conversely, failure to breach this resistance may result in continued downward pressure, potentially testing and even breaking below the current support level.
TRON price interplay between rising account numbers and higher transfer volumes are interesting.
The trends reinforce its capability to sustain upward momentum in both network activity and market valuation.
Investors should watch for a breakout or a bounce back from these key levels to gauge future direction.
TRON DeFi Products Across Total Locked Valued Reach $7.309 Billion
TRON DeFi products across TVL reached $7.309 billion, reflecting its steady rise in the decentralized finance sector.
The chart indicate TVL fluctuations from mid-2020 to 2024, with notable growth in mid-2021, where TVL peaked near $10 billion.
After this surge, 2022 experienced a downward trend, with occasional recoveries, stabilizing between $4 billion and $6 billion.
A stronger recovery began in late 2022, continuing through 2023, with TVL steadily climbing past $7 billion. By early 2024, TVL exceeded $8 billion briefly before dropping back near $7 billion.
The pink bars representing transaction volumes mirrored similar volatility, peaking in mid-2021 and then gradually declining.
A rebound began in late 2022, showcasing increased activity tied to DeFi products. If current trends persist, TRON’s TVL could sustain growth, potentially driving further adoption of its ecosystem.
This data underscores TRON’s capacity to maintain a significant position in the DeFi market, with $7.309 billion marking a substantial milestone in its evolution.
