- The number of TRX strikers has increased over the past seven days.
- However, daily active addresses and transactions decreased.
Tron [TRX] recently posted its weekly highlight, highlighting the key developments of the ecosystem. The most notable, of course, was the release of a major update that brought quite a few changes.
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However, the update failed to help TRX’s decline in key metrics. Even then, although several metrics were declining, it was interesting to see the value of the blockchain increase.
Tron has launched a new update
A few days earlier, Tron released a mandatory update called GreatVoyage-v4.7.2 (Periander). The Periander version introduced several major optimizations and updates, and added two governance proposals to optimize Stake 2.0, greatly improving the flexibility of Tron’s staking mechanism.
In addition, it added a board proposal to implement the EIP-3855 instruction, which guarantees Tron and Ethereum [ETH] compatibility at the virtual machine level. In addition, it reduced the cost of using Tron smart contracts.
Watch out #TRON Highlights from last week (July 1, 2023 – July 7, 2023).
We will keep you informed of the most important news about #TRON And #TRON #Ecosystem. So stay tuned, #TRONICS! pic.twitter.com/9PXFlDobQ8
— TRONDAO (@trondao) July 10, 2023
Since the update has brought changes to the blockchain staking ecosystem, let’s see how TRX shutdown is performed. From TRONSCANthe blockchain staking ecosystem has been relatively stable over the past 30 days.
In addition, Strike Rewards facts revealed that the number of strikers increased last week. At the time of writing, Tron had a stake rate of 41.6% and a market cap of over $2.9 billion.
Source: Staking Rewards
Key stats are dropping
While the staking ecosystem grew, so did other stats. For example, Artemiscard showed that TRX‘s daily active addresses decreased over the last 30 days.
A similar downward trend was also noticed in terms of daily transactions, indicating less network activity on the blockchain.
However, it was interesting to note that despite the drop in network activity, the blockchain’s TVL has seen some upward momentum over the past month.
Source: Artemis
Read from Tron [TRX] Price prediction 2023-24
TRX price action remains sluggish
Amid these updates, TRX’s price action became sluggish as it moved marginally over the past seven days. According to CoinMarketCapAt the time of writing, TRX was trading at $0.07737 with a market cap of over $6.9 billion.
Surprisingly, despite the slow-moving price, it remained a popular token among traders, as evidenced by its volume.
However, things could change soon as the token’s Open Interest was falling at the time of writing. Additionally, TRXthe funding rate also fell, and usually prices move in the opposite direction of the metric.
Source: Sentiment
