TRON surpasses Ethereum [ETH] and Bitcoin [BTC] in this connection
- TRX’s TVL has been on an uptrend for quite a few weeks.
- Calculations and market indicators match the bull’s interest.
THRONE [TRX] recently released a chart showing a steady increase in the total number of transactions over the past few months. According to the chart, TRX’s number of transactions has been on the rise since September 2022.
This chart from @rfw_arcana sharing some stats we love to see. 👀
In terms of total number of monthly transactions, this chart makes things clear…#THRONE shows a steady trend in the right direction with overall growth every month. 💪 #TronStrong💎 pic.twitter.com/bWmRx2fDpm
— TRON DAO (@trondao) 18 February 2023
Well, TRX surpassed all the other cryptocurrencies in competition and ranked first in the list of projects by the number of transactions.
Simply put, it managed to outperform ETH, XRP, BTC and ADA, which was a commendable move. This was an optimistic development as it reflected higher use and adoption of TRON worldwide.
Of the TOP 5 blockchain networks by number of transactions, #THRONE ranks first in front #XRP, #Ethereum, #Bitcoinand #Cardano 💪 pic.twitter.com/LXmxULpVoe
— TRON Community (@TronixTrx) 18 February 2023
Read TRON’s [TRX] Price prediction 2023-24
TRX kept pace with the market
On the other side, THRONE has also partnered with other platforms that can help the network increase its offerings. The latest was the partnership with Princeton Blockchain.
With Tron’s assistance, Princeton will be able to further its goal of introducing blockchain technology to Princeton students.
We are proud to announce that @trondao is our gold-tier donor for the year 2023. Tron’s support will further advance our mission to promote blockchain technology at Princeton. Check out our new website for more information about the partnership: pic.twitter.com/3xIz6d1nVn
— Princeton Blockchain Club (@pton_blockchain) 17 February 2023
Well, investors would like to know that TRX responded well to all these updates.
In accordance CoinMarketCapthe coin was up more than 8.5% in the last seven days and at the time of writing it was trading at $0.07001 with a market capitalization of over $6.4 billion.
Moreover, TRX’s on-chain performance was also positive, suggesting even brighter days ahead. Actual Total Value Locked (TVL) on the network was on a continued upward trend, which looked promising.
In addition, TRXDevelopment activity has increased over the past seven days. The price increase was accompanied by an increase in volume, which was a positive signal.
Furthermore, Alt’s demand in the derivatives market was also high, as its Binance funding rate was in the upper circle.
LunarCrush’s data further revealed that TRX also managed to remain popular in the market as social mentions increased by 26%.
Source: Sentiment
How much is 1,10,100 TRXs worth today?
The bulls lead the way
As the calculations, a look at TRX‘s daily chart hinted at the possibility of a continued uptrend as most indicators supported the bulls.
For example, the MACD showed a bullish crossover. TRX’s Chaikin Money Flow (CMF) registered an upswing and was moving further above the neutral mark, which was again a bullish indicator.
According to the Bollinger Bands, the TRX price entered a high volatility zone, increasing the chances of a price increase in the coming days. However, TRX’s Money Flow Index (MFI) declined slightly.
Source: TradingView
