- Tron remained on the high of the blockchain by way of every day lively addresses.
- TRX was down by greater than 3%, and most market indicators had been bearish.
The 12 months 2023 has been fairly good for Tron [TRX] by way of the blockchain’s adoption and utilization.
Not solely did TRX outperform its high rivals like BNB Chain [BNB] and Bitcoin [BTC], but it surely additionally managed to carry its primary place constantly all through the previous a number of months.
Tron’s 2023 achievements are many
AMBCrypto’s verify of Token Terminal’s information revealed that Tron continued to take a seat within the high spot on the listing of cryptos by every day lively addresses.
At press time, TRX’s every day lively addresses stood at 1.4 million, whereas BNB and BTC’s numbers had been 968k and 443k, respectively.
Supply: Token Terminal
AMBCrypto additionally discovered that TRX’s whole 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 12 months, 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 data.
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 information revealed that TRX’s whole variety of NFT trades remained excessive during the last three months. Nonetheless, its NFT commerce quantity remained low apart from spiking as soon as on the sixth of December.
Supply: Santiment
TRX has a couple of issues
Whereas the blockchain reached new highs by way of whole addresses, TRX’s worth 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 possibilities of a pattern reversal.
Supply: Coinglass
How a lot are 1,10,100 TRXs value right now?
Tron’s Relative Energy Index (RSI) additionally registered a downtick and was headed in the direction of the impartial mark at press time.
Its Chaikin Cash Circulation (CMF) adopted an analogous route, growing the possibilities of a continued southward worth motion throughout the ending days of 2023.
Supply: TradingView