The Tron (TRX) network is experiencing a surge of activity, with daily active addresses hitting an all-time high (ATH). This growth signals strong organic expansion for the blockchain. The spike in user engagement could translate into further price appreciation. 📈
According to CryptoQuant, the 50-day and 100-day moving averages of daily active addresses have reached a new record high.
Analysts believe that this trend indicates increased adoption and usage of the Tron blockchain, which is ultimately driving up demand and leading to price increases. As more users join the network, it’s likely the positive sentiment will fuel further price growth, potentially reaching 570%.
While the current price of TRX is a modest increase at $0.2735 (1.13% over the last 24 hours), CryptoQuant suggests that the market may be lagging behind the increased activity on the network.
Furthermore, the blockchain’s bullish trends are evident in other indicators: 98.44% of Tron addresses are currently profitable. This high level of profit and positive sentiment further reinforces investor confidence in the asset.
Currently ranked ninth by market capitalization, Tron dethroned Cardano from tenth place.