- TRON published its weekly highlights and mentioned the remarkable development
- TRON reached 131,312,000 accounts on the network, but some metrics did not support it
throne [TRX] It published its weekly update highlighting all the important developments in the ecosystem over the past seven days. This provided an understanding of network performance. TRON mentioned the launch of TCNH by TrueUSD, a TRON-based stablecoin pegged to the offshore Chinese Yuan, via Twitter.
Moreover, the committee’s proposal 80 was officially approved. The main point of the committee’s proposal is to change the coefficient of the 68 network and charge 1 TRX price for the transaction notes. Interestingly, TRON Dao announced the creation of TRON Dao Ventures, an attempt at decentralization.
🧐 Check it out #throne Highlights from this week (17 Dec 2022 – 23 Dec 2022).
– trondao December 24, 2022
Read for TRON [TRX] predict the price 2023-24
How was TRX?
throne It recently achieved a new milestone, which seemed promising for the network as it represented its widespread adoption around the world. According to the latest data, TRON has reached 131,312,000 accounts on the network. This was a higher number than the king’s currency, Bitcoin [BTC].
To put this into perspective…# Bitcoin It has 43,732,000 accounts.
– Joshua Romesburg (@JoshRoomsburg) December 25, 2022
While the TRON ecosystem has remained active, TRX’s performance has been somewhat lethargic. CoinMarketCap data revealed this TRX Failed to record gains in the past week.
Furthermore, at the time of writing, TRX is trading at $0.0547 with a market capitalization of over $5 billion. TRON’s on-chain metrics provided a better understanding of what went wrong last week, regardless of bear market conditions.
TRON development activity showed a sharp decline, which was a negative sign as it represented less efforts by developers to improve the network. In addition, TRX volume has also recorded a slight decrease over the past 7 days.
However, TRX has managed to maintain its popularity in the crypto space as evidenced by its social scale. TRX’s Binance funding rate has increased significantly. This can be seen as a positive sign as it indicates significant interest from the derivatives market.
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Here’s what you can expect
the past two weeks, TRX It showed support and resistance at the levels of $0.053 and $0.056, respectively. The Moving Average Convergence Divergence (MACD) revealed an ongoing battle between bulls and bears.
The Relative Strength Index (RSI) for TRX has also settled in a neutral position. This suggests that things could go either way. However, Chaikin’s money flow (CMF) was relatively high, which increased the chances of a price hike in the last days of the year.