- TRON published its weekly highlights mentioning the notable developmentsĀ
- TRON reached 131,312,000 accounts on the network however a few metrics were not supportiveĀ
TRON [TRX] posted its weekly update highlighting all the major developments on the ecosystem during the last seven days. This gave an understanding of the networkās performance. TRON mentioned the launch of TCNH by TrueUSD, which is a TRON-based stablecoin pegged to the offshore Chinese Yuan via Twitter.
Furthermore, the number 80 committee proposal was officially approved. The committee proposalās major point is to change the No. 68 network parameter and charge a price of 1 TRX for transaction memos. Interestingly, TRON Dao announced the foundation of TRON Dao Ventures, which is an effort towards decentralization.Ā
????Check out #TRONĀ Highlights from this week (Dec 17, 2022 ā Dec 23, 2022).
????We’ll update you on the main news about #TRONĀ and #TRONĀ #Ecosystem. So stay tuned, #TRONICS! pic.twitter.com/o7C9DXXfvn
ā TRON DAO (@trondao) December 24, 2022
Read TRONās [TRX] Price Prediction 2023-24
How has TRX been?
TRON recently achieved a new milestone, which looked promising for the network as it represented its wide adoption across the globe. According to the latest data, TRON reached 131,312,000 accounts on the network. This was a higher number than that of the king coin, Bitcoin [BTC].Ā
#Tron has reached 131,312,000 accounts on the network. This is huge! #TronNetwork
To put this into perspectiveā¦#Bitcoin has 43,732,000 accounts.
It’s only a matter of time before #TRX is a household name in this industry. ā³ $TRX pic.twitter.com/PdP6H08DN1
ā Joshuwa Roomsburg (@JoshRoomsburg) December 25, 2022
While the TRON ecosystem remained active, TRXās performance was pretty dormant. CoinMarketCapās data revealed that TRX did not manage to register gains during the last week.
Furthermore, at press time, TRX was trading at $0.0547 with a market capitalization of more than $5 billion. TRONās on-chain metrics gave a better understanding of what went wrong over the last week, apart from the bearish market condition.Ā
TRONās development activity witnessed a sharp decline, which was a negative sign because it represented fewer efforts from developers to improve the network. Moreover, TRXās volume also registered a slight decline during the last seven days.
Source: Santiment
However, TRX managed to remain popular in the crypto space, which was evident from its social volume. TRXās Binance funding rate went up substantially. This could be considered as a positive signal as it indicated high interest from the derivatives market.
Are your TRX holdings flashing green? Check the Profit Calculator
Here is what to expect
For the past couple of weeks, TRX showed support and resistance at $0.053 and $0.056 marks, respectively. The Moving Average Convergence Divergence (MACD) revealed an on-going battle between the bulls and the bears.
TRXās Relative Strength Index (RSI) was also resting in the neutral position. This suggested that things could head in any direction. However, the Chaikin Money Flow (CMF) was relatively up, increasing the chances of a price surge during the final days of this year.
Source: TradingView
Source: https://ambcrypto.com/trx-shuns-stepping-in-the-spotlight-despite-trons-latest-offerings-assessing/