Tron’s native token TRX has awakened from a seven-year slumber, shattering previous price records. Social media buzz and on-chain metrics reflect growth across the network’s ecosystem, suggesting this rally may have deeper roots than mere speculation.
TRX Network Growth Drives Price Surge
As per Coinpedia, TRX surged to a new ATH of $0.4407. Besides, the Tron network has exhibited exceptional performance in its core metrics over the past month. Total revenue reached $237 million, marking an 18% increase.
The ecosystem continues to expand its user base, with TRX holders growing to 159 million, a 3% rise. Moreover, the network processed 9.08 billion cumulative transactions, while total accounts climbed to 276 million.
This growth in fundamental metrics comes alongside a minor reduction in token supply, which decreased by 0.18%. The combination of expanding usage and contracting supply has created upward pressure on the token’s price.
Market Performance and Technical Indicators
CoinGecko data shows TRX trading volume has surged past $15.9 billion in 24 hours. At publication, the token recorded gains of 66.94% during this period and 98.51% over the past week currently priced at $0.3921.
Coinpedia’s technical analysis reveals strong momentum, with the RSI reaching 92 in overbought territory. The Ultimate Oscillator reinforces bullish sentiment with a buy signal, setting price targets at $0.5528 with potential movement toward $0.7523.
Read also: Does KAS Still Have Time to Pump? Kaspa Price Prediction
Ecosystem Metrics Hit Record Levels
Crypto analyst Wise Advice reports unprecedented growth in Tron’s ecosystem metrics. The network’s Total Value Locked (TVL) doubled to $13.68 billion, while daily active users increased by 38% to 2.58 million.
Trading volume soared by 165% to $31 billion. The platform’s stablecoin market capitalization achieved a new peak at $61 billion, contributing to a $20 billion increase in total market capitalization within a month.
These developments have sparked discussions about future price targets, though market movements remain unpredictable. The data suggests Tron’s growth stems from increased network adoption and usage, supported by strong fundamentals across multiple metrics.
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