With the high market prices last year, you can see [TRX] It traded at a five-day high of $0.06382 on November 5, according to data from CoinMarketCap. The cryptocurrency ranked No. 15 in terms of market capitalization. Additionally, TRX is trading with a 1.5% drop in the past 24 hours, to a press time price of $0.06351.
Here AMBCryptos price prediction for faith [TRX] For the year 2023-2024
A study of supply on the daily chart revealed that TRX buyers were in control of the market on the 5th of November. This was taken from the DMI website. The DMI showed that the strength of buyers (in green) at 27.78 was much higher than that of sellers (in red) at 13.94.
This is also confirmed by the Exponential Moving Average (EMA) website. At the time of writing, the 20 EMA (blue) is just above the 50 EMA (yellow), which indicates that buyers have forced sellers out of the market’s control.
In addition, major indicators such as the Relative Strength Index (RSI) and Money Flow Index (MFI) have been placed above their neutral areas in bullish trends. On November 5, TRX’s RSI was 57, while its MFI was 57. This indicates a steady increase in currency buying pressure.
Faith Q 3
Cryptocurrency research platform Messari has revealed its assessment of Tron Network’s performance in the third quarter. It found that network usage remained stable while its quarterly revenue declined over the three-month period.
Although the number of newly activated accounts on Tron declined by 21.7% last quarter, Messari found that daily active accounts on the network remained stable. Moreover, this measure showed a growth of 0.3% over the same period. Al-Masari said, comparing the use of Tron network for the third quarter with the use of the Tron network in the second quarter,
“On average, total account activity appears to have fallen to ~2.6 million per day. The daily average of 2.6 million in the third quarter was not based on an upward trend or spikes in usage as it did in the second quarter. Daily activity during The third quarter is relatively more stable. Activity in the second quarter was a period of high growth, primarily fueled by the explosion in May, following the launch of USDD, the decentralized, collateralized stablecoin TRON.”
As for network revenue, Messari found it was down 21% in the quarter. The Fund’s total quarterly revenue during the period under review was $38 million. In the second quarter, that was $48 million. Regarding the reason for the decline in revenue, Al-Masari stated that this is due to a 33% decrease in the “average transaction fees on the network.
While the majority of L1 blockchains experienced a decline in DeFi TVL, Messari found that “Tron was able to insulate itself from adverse market conditions by increasing TVL by 61% on a quarterly basis.”