HomeNewsTron Dominates Ethereum in Daily Transactions: The Rising Star of Blockchain?

Tron Dominates Ethereum in Daily Transactions: The Rising Star of Blockchain?

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  • Tron significantly outperforms Ethereum in daily transactions, securing over 5 million compared to Ethereum’s 1 million.
  • Despite promising growth indicators, TRX’s price action remains sluggish, showing a slight increase of only 0.7% in the last 24 hours.

Tron Surpasses Ethereum in Daily Transaction Count: A Case of Stalled Price Momentum?

Tron [TRX] has exhibited noteworthy growth recently, reflected in its increasing account numbers – a testament to the growing adoption of the network. The most striking factor was the transaction count where TRX dwarfed Ethereum [ETH] by a substantial margin. Concurrently, there was an upward tick in Tron staking. However, despite these promising signs, TRX’s price momentum remains notably sluggish.

Tron’s Rising Popularity

TRONSCAN’s recent tweet brought to light the substantial growth in the number of Tron’s total accounts, which have now surpassed the 173 million mark. In just 24 hours, the number of new addresses increased by over 200,000.

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Furthermore, the blockchain’s total transactions escalated considerably, with daily transactions exceeding 4 million, pushing the total count to a whopping 6.18 billion.

A significant revelation by Tron Dao’s tweet was the massive lead Tron held over Ethereum in terms of daily transactions. Tron saw more than 5 million daily transactions, while Ethereum lagged with just over 1 million.

Simultaneously, Tron’s staking ecosystem has shown positive signs recently. As per TRONSCAN’s data, the total number of TRX staked has been rising. At press time, TRX boasted a staking ratio of over 47% and a staking market capitalization exceeding $3.4 billion.

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Price Momentum Yet to Reflect Achievements

While the advancements in the TRX ecosystem appear promising, these accomplishments are yet to be mirrored in the token’s price action. According to CoinMarketCap, TRX’s price only saw a marginal rise of 0.7% in the last 24 hours. Currently, TRX is trading at $0.08014, with a market cap of over $7 billion.

Indicators like TRX’s Bollinger Bands show the token’s price entering a slightly less volatile zone, while its Chaikin Money Flow (CMF) signals a slight downtick, indicating bearish tendencies.

On the other hand, Tron’s Relative Strength Index (RSI) was comfortably above the neutral mark, and its Exponential Moving Average (EMA) Ribbon revealed a clear bullish dominance in the market, potentially aiding an increase in its price in the forthcoming days.

Despite these promising metrics, TRX’s social volume fell, indicating a drop in its popularity. Nevertheless, its weighted sentiment improved last week, suggesting a dominant positive sentiment around the token in the market.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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