TRON Weekly Report, and Why Investors Should Be Caution Ahead

  • TRON’s weekly stats revealed some new achievements.
  • However, TRX’s price action and metrics were negative.

throne [TRX] It released its weekly report on January 5th, which revealed many new stats for the TRON network over the past seven days. According to the tweet, the total number of accounts on TRON has exceeded 131.9 million.

Not only that, but the total number of transactions on TRON reached 4.53 billion. Another important update is the fact that the total value locked on the TRON network has reached $9.5 billion.

Read for TRON [TRX] predict the price 2023-24

Show TRX consistency

TRXshrinkage properties are proven again; According to the latest TRON Scan tweet, TRON has been in a contraction for nearly 62 weeks, which is commendable. The tweet also mentioned that more than 10 billion TRX has been burned so far.

TRX also attracted the attention of many in the past week, albeit negatively, as its performance on metrics did not align with investors’ interests. According to CoinMarketCap, TRXs price has fallen by over 7% over the past 24 hours. At the time of publication, it is trading at $0.05083, with a market capitalization of over $4.6 billion.

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TRON investors should be careful

Upbeat updates aside, a look at TRX’s on-chain metrics suggests that days could be darker, as most would have favored more downside. This may be a little worrying for investors.

Consider this – TRX’s Binance funding rate has recorded a huge drop, indicating that the derivatives market has not shown any interest in it. TRX.

While TRX price fell, its volume went in the opposite direction and went up, further legitimizing the downtrend.

In addition, TRON development activity has not improved, which indicates that developers are putting less effort into improving the blockchain. In contrast, CryptoQuant’s data It gave some hope when it revealed that the Relative Strength Index (RSI) for TRON was oversold, which was a bullish sign.

Source: feeling

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