- Tron remained on the prime of the blockchain when it comes to every day energetic addresses.
- TRX was down by greater than 3%, and most market indicators have been bearish.
The yr 2023 has been fairly good for Tron [TRX] when it comes to the blockchain’s adoption and utilization.
Not solely did TRX outperform its prime opponents like BNB Chain [BNB] and Bitcoin [BTC], nevertheless it additionally managed to carry its primary place constantly all through the previous a number of months.
Tron’s 2023 achievements are many
AMBCrypto’s test of Token Terminal’s knowledge revealed that Tron continued to take a seat within the prime spot on the checklist of cryptos by every day energetic addresses.
At press time, TRX’s every day energetic addresses stood at 1.4 million, whereas BNB and BTC’s numbers have been 968k and 443k, respectively.
Supply: Token Terminal
AMBCrypto additionally discovered that TRX’s complete variety of transactions had crossed 6.9 billion, whereas its TVL reached $20 billion. The blockchain’s staking ecosystem’s efficiency additionally remained fairly respectable in 2023.
Tron launched Stake 2.0 this yr, including a number of new options for stakers. Over the previous few months, the share of Stake 2.0 has elevated, as evident from TRONSCAN’s knowledge.
Supply: TRONSCAN
In accordance with Staking Rewards, TRX had a staking ratio of fifty.2% and a complete of 390k staking wallets. On the time of writing, it had a staking market capitalization of over $4.65 billion.
The blockchain’s NFT ecosystem has additionally witnessed some traction within the current previous.
AMBCrypto’s take a look at Santiment’s knowledge revealed that TRX’s complete variety of NFT trades remained excessive during the last three months. Nonetheless, its NFT commerce quantity remained low aside from spiking as soon as on the sixth of December.
Supply: Santiment
TRX has just a few issues
Whereas the blockchain reached new highs when it comes to complete addresses, TRX’s value motion turned bearish.
In accordance with CoinMarketCap, within the final 24 hours alone, the token’s worth dropped by greater than 3%. At press time, it was buying and selling at $0.1048 with a market cap of over $9.28 billion.
Issues didn’t look too good for TRX’s future, as AMBCrypto discovered that its Open Curiosity decreased, growing the probabilities of a pattern reversal.
Supply: Coinglass
How a lot are 1,10,100 TRXs value as we speak?
Tron’s Relative Power Index (RSI) additionally registered a downtick and was headed in the direction of the impartial mark at press time.
Its Chaikin Cash Move (CMF) adopted the same route, growing the probabilities of a continued southward value motion through the ending days of 2023.
Supply: TradingView
