Follow Us

Tron Leads In Active Users But Lags In Price Gain

Share on facebook
Share on twitter
Share on linkedin

Share

Tron
Share on facebook
Share on twitter
Share on linkedin

Tron Blockchain is a decentralized platform developed by the Tron foundation and was launched in 2017. The Tron platform supports various kinds of smart contracts of different blockchain and Dapps. The compatibility of the platform with the Ethereum Virtual Machine (EVM), enables developers to migrate their Ethereum-based dApps to Tron seamlessly. It fostered a thriving developer community and an expansive range of applications, from decentralized finance (DeFi) to gaming and entertainment. Tron also acquired BitTorrent in 2018 to expand their ecosystem.

Source:Tron.network

Tron is also making waves in the P2E gaming industry. Meanwhile, the platform’s impressive ecosystem provides easy access to the Tron testnet. Tron dapps has been growing steadily. Sunswap, Bridgers and Just lend Dao are some of the dapps which have shown strong volume in the last few weeks. Meanwhile in terms of balance Justlend and Sunswap V1 are leading the race. Lets have a detailed look towards the Onchain activity of the Tron ecosystem.

Will Tron Users Lead it Above Ethereum?

Tron is an ecosystem where creators and users can connect without any centralized platform. The platform uses delegated proof of stake to secure the network. One can stake their cryptocurrency and get “Tron Power” to vote for the super representative who serves as a block producer.

Source: Tron active Addresses by Artemis

Tron had a revenue of $137.6 Million in May 2024 which was 9.2% higher than the previous month. The overall expenses for the Tron platform among the revenue was $112 Million which was 12% higher than the previous month operating expense. The earnings of the platform was around $20.35 Million which is 8% less than the previous month as per token terminal.

The active users of the platform has shown a significant surge in comparison to its peers and has reached the high of 2.1 Million.

Source: Tron TVL by DefiLlama

Despite the surge in their active users the Tron TVL has not seen any momentum and is near $8.643 Billion. The highest TVL among the top protocols of the Tron is Justlend which has over $6.4 Billion.

Will TRX Price Cross $0.5 Mark This Year?

Ritika_TCR on TradingView.com

Tron has a market cap of $10 Billion and is ranked 16th in the cryptoverse. The VM ratio of the asset price is 0.02 with a drop of 7% in the volume. TRX is currently trading near the value of $0.11 with a drop of 0.14% in the intraday session.

TRX price is currently seeing a weak consolidation on the daily chart. It is trading below the 50 and 100 EMA with a negative crossover in the past. The upside trend of TRX price can see a halt near $0.2. Meanwhile, the support price is hovering near the $0.09 mark.

The RSI of the token price is currently near 44 with a negative slope. The overall sentiment of the indicator is bearish in nature.

Conclusion

Tron has the highest active users among the all blockchains, despite which, TVL and revenue has remained stagnant for a while. TRX is currently in a consolidation zone but could mark a new high in the future.

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00