TRX holders gain confidence boost following fresh analysis revealing Tron superiority in terms of transaction efficiency.
Tron takes a win as the most efficient network in transactions relative to token value. Meanwhile, TRX seems to have found new local bottom but is it enough for a substantial rally?, Tron had the highest Transaction-to-Price Ratio . This metric compares the total daily transaction value to the price of the network’s native cryptocurrency.
This transaction efficiency positively impacted the Tron network. The daily transaction count grew from 3.4 million to 10.47 million over the last 12 months.In the short term, daily transactions on the Tron network grew from 6.09 million on the 12th of January 12 to 8.37 million on the 20th of January. This surge reflects recent market excitement, showing Tron’s ability to capitalize.
This resurgence in demand coincided with the cooling down of selling pressure. TVL has shown positive flows, a volume uptick, and a slight surge in Open Interest. Could these observations signal an upcoming pivot? Historical concentration data revealed that whale holdings grew from 56.43 billion TRX on the 1st of January to 56.89 billion TRX on the 20th of January.
This indicates that whales have been buying the dip. While it has not fueled a major rally, it is a healthy sign for the bulls.Michael is a full-time journalist at AMBCrypto. He has 5 years of experience in finance and forex and more than two years as a writer in the crypto and blockchain segments. Michael's writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis. His interests include motorcycles and exotic cars.Subscribe to get it daily in your inbox.
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