Will Tron Evolution cause TRX to fail or fly on price charts

  • Tron announces the launch of the new Tronpedia
  • TRX’s Galaxy Score looked bullish. However, the measured values ​​were ambiguous

throne [TRX] He recently announced the launch of Tronpedia, a new platform where people can learn about projects that Tron supports.

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Read Faith [TRX] price prediction 2023-2024

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The site comes in several categories, which include categories on DeFi, GameFi, NFT, Web3, Stablecoin, Blockchains, and more. This can be considered a positive development regarding the Tron blockchain. But how did TRX react to this development?

TRXHowever, the recent price action has not been in the buyer’s favor as it has registered negative growth of more than 20% in the past seven days. According to CoinMarketCap, the TRX print time price was trade to $0.05205 ​​with a market capitalization of more than $4.8 billion. Given the scale of Tronpedia’s launch, is there any way TRX could benefit from this?

This looks good on TRX

Big bullish signal too TRX It was revealed by LunarCrush data when TRX took third place in the list of cryptocurrencies in terms of Galaxy Score. This was good news, as it indicated a possible trend reversal in the near future.

Also, cryptocoins data It gave more hope as TRX’s Relative Strength Index (RSI) was oversold. This increased the chances of a price increase. In addition, TRX has remained very popular in the crypto community last week as its social volume hit its peak.

Source: feeling

By the way, Tron’s founder Justin Sun recently open That Tron and FTX will soon reach an arrangement that will allow TRX users to transfer assets from FTX to external wallets. This can also be considered a positive update.

A bag full of worries…

Apart from the above metrics, the rest revealed that there are high chances of further decline in TRXphoto price. For example, TRX development activity has decreased significantly in the past week. This was a negative sign for the blockchain. Tron has failed to get much interest from the derivatives market, as Binance’s funding rate has recently posted a dip.

Source: Santimen

Although Tron’s NFT ecosystem registered growth in the past week, it turned cold later on. TRX total trading in NFT and NFT trading volume in US dollars increased on November 8 and 10, but shortly thereafter both metrics also saw a decline.

Source: feeling

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