Even as the rest of the cryptocurrency market surges along with Ethereum (ETH), Tron (TRX) continues to struggle. In addition, data from Coinmarketcap reveals that TRX is among the top altcoins in terms of weekly price declines. TRX, on the other hand, experienced a minor loss of 0.25% over the course of the past week, whereas the majority of assets saw increases in their prominence.
After the altcoin printed recovery moves in July, this consolidation affirms TRX’s status recently. After receiving a late boost on August 13 from bullish activity, Tron’s price was trading at $0.07 at the time this post was published.
Get up and shine!
Despite Tron’s cryptocurrency TRX’s performance, Tron’s blockchain continued to gain prominence in the media. More importantly, people in the crypto community appear to be starting to take notice. According to Lunar Crush’s data, TRX was a hot search term.
Still, this change wasn’t reflected in the Social Dominance index. In addition, the index has been stuck at 0.325% since the mega-hit on July 26 and has not moved at all.
As an additional point of interest, Tron has recently compiled its weekly updates, which include the network’s development updates. According to the data, Tron’s ecosystem collaborated with Wintermute and Travala to increase blockchain usage.
The goal of these partnerships is to accelerate Tron’s growth to new heights over the course of the following few months. CoinMarketLeague also placed TRX at the top of a list of the ten most-voted blockchains.
Also, Tron Scan updates about the surging stablecoin activity on Tron’s network. The tweet indicated that average stablecoins transfer volume on Tron hit $7.15B per day between August 5 and 11. Furthermore, the amount in DeFi total value locked on Tron noted a more than 1% increase within the past day to $11.6 billion.
However, Tron’s daily transactions aren’t printing significant uptrends (despite this progress). Daily transactions stood at about 5.1 million as August started, revealing gradual growth. Tron Scan indicates that transactions touched the 5.2 million level, indicating a minor increase amidst wild fluctuations by the same within the past two weeks.
What next for Tron? While ecosystem developments reflect Justin Sun’s goal, TRX should capitalize on the current revival rally. Nevertheless, the narrative has been different so far. It might not take long until market players notice it.
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