The number of Tron network accounts exceeded 130 million
Tron published its new weekly report on January 5. According to these statistics, during the previous seven days, the total number of Tron network accounts reached 131.9 million.
According to Valx and quoted by Ambcrypto, in addition to the increase in the number of accounts, the total number of transactions in this network also reached 4.53 billion. Another improvement achieved was the increase in total locked-in capital (TVL) to $9.5 billion.
Another remarkable feature of the Tron network is its anti-inflationary or contractionary nature of its supply. According to the latest data from the Tron Scan site, the Tron network has been experiencing a supply decrease for 62 weeks. During this period, more than 10 billion TRX tokens have been burned.
Despite these positive trends, Tron’s price did not perform well. The price of TRX decreased by more than 7% during the last day, January 6, which caused its market value to drop to $4.6 billion.
If we analyze Tron through the lens of intra-chain metrics, the situation may be even darker because most of the indicators point to further price reductions.
For example, the funding rate of this token on the Binance exchange registered a sharp decrease, which indicates a decrease in the derivative market’s interest in Tron.
With the decrease in the price of Tron, the volume of its transactions increased, which confirms the legitimacy of the downward trend and emphasizes it. Another worrisome indicator is the network development activity index, which shows little effort by developers to improve the blockchain. However, the data from the CryptoQuant site slightly softened the situation. The Relative Strength Index (RSI) of this site shows that Tron is currently oversold, which is a positive and bullish signal.
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