TRON’s weekly stats revealed a couple of new achievements. However, metrics and TRX’s price action were negative. TRON [TRX] released its weekly report on 5 January, which revealed several new statistics for the TRON network over the last seven days. As per the tweet, the total number of accounts on TRON exceeded 131.9 million. Not […]
’s price declined by over 7% during the last 24 hours. At press time, it was trading at $0.05083, with a market capitalization of over $4.6 billion.Regardless of the optimistic updates, a look at TRX’s on-chain metrics suggested that the days might get even darker, as most of them were in favor of a further downtrend. This can be a little concerning for the investors.
Consider this- TRX’s Binance funding rate registered a massive decline, indicating that the derivatives market was not showing interest inWhile TRX’s price went down, its volume went the opposite route and shot up, which further legitimized the downtrend. Moreover, TRON’s development activity did not improve, implying that developers were making fewer efforts to improve the blockchain. However, CryptoQuant’s
gave a slight ray of hope as it revealed that TRON’s Relative Strength Index was in an oversold position, which was a bullish signal.Subscribe to get it daily in your inbox.
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