Analyzing how Tron holds its ground in the bear market 


17 Sep 2023 8:30 PM

Tron adoption was on the rise as both its total accounts and total transactions reached new highs. TRX was up by 6%, and a few indicators remained bullish....

  • Tron (TRX) has shown resilience in the bear market, possibly due to increased adoption and usage of its blockchain.
  • TRX has experienced a 6% increase in price over the last seven days, trading at $0.08344 with a market cap of over $7.4 billion.
  • Tron's network activity has reached new milestones, with a total of 184 million accounts and 6.4 billion transactions.
  • The blockchain has also excelled in the DeFi space, with a sharp rise in its Total Value Locked (TVL).
  • TRX's development activity has surged, reflecting efforts to improve the network.
  • Social engagement has increased by more than 76%, but bullish sentiment has dropped by 28%.
  • Tron's Relative Strength Index (RSI) has entered the overbought zone, which may increase selling pressure on TRX.

The article highlights positive developments for Tron, such as increased adoption, network activity, and development activity. However, it also mentions concerns about bearish sentiment and the potential impact of the overbought RSI on TRX's price.

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You May Ask

What factors have contributed to Tron's resilience in the bear market?How has Tron's price performed compared to other cryptocurrencies?What milestones has Tron's network activity reached?How has Tron performed in the DeFi space?What does the surge in development activity indicate for Tron's network improvement efforts?

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