- According to the latest announcement, stUSDT will be launched on the Tron network soon.
- TRX’s weekly and daily charts were green and market indicators were bullish.
Tron [TRX] recently reached another milestone that again reflected the adoption of the blockchain on a global scale. TRX’s official Twitter account just now revealed that the total number of active addresses of the blockchain passed the 170 million mark, which seemed encouraging for the future. In addition, there were a few other notable developments in the ecosystem that can serve as fuel for further growth.
Read from Tron [TRX] Price prediction 2023-24
Tron is still the market leader
Not only did the total number of TRX accounts increase, but the blockchain also topped the list in terms of daily active users. According to Token Terminal data, TRX registered more than 2 million daily active addresses, making it the market leader. Except Throne, BNB chain [BNB] And Polygon [MATIC] also made the top three on the same list.
Source: Token Terminal
As TRX adoption increased, another development occurred, further contributing to the uptrend. Tron Dao recently revealed via a tweet that stUSDT would soon come to the Tron network. For starters, stUSDT would be the first RWA platform in the Tron ecosystem.
Tron investors were comfortable
In the midst of these updates, the price of TRX gained upward momentum as the weekly and daily charts were painted green. According to CoinMarketCap, the price of TRX is up more than 4% in the past seven days. At the time of writing, it was trading at $0.0767 with a market cap of over $6.8 billion.
However, the price increase was not followed by an increase in volume, which is a typical bearish signal. Moreover, the token’s 1-week price volatility has also plummeted, suggesting that the uptrend could end soon.
Source: Sentiment
Although TRX’s volume has declined over the past few days, a glance at the daily chart gave an upbeat picture. For example, the Exponential Moving Average (EMA) ribbon showed a bullish crossover. TRX‘s MACD also revealed that the bulls led the market. In addition, TRX’s Relative Strength Index (RSI) was also above the neutral mark, which was a bullish signal.
Source: TradingView
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A few other stats were also positive on TRX. For example, weighted sentiment improved last week, reflecting investor confidence in the token. However, the social volume decreased. A downward trend in the metric means that TRX‘s popularity took a hit last week.
Source: Sentiment
