The total number of TRON accounts has now surpassed 250 million. This milestone has raised questions about the future price of TRX, the native token of the TRON ecosystem. Currently, TRX is trading at $0.1276, and its value has shown minimal movement today.
Although TRX remains quite a distance from its all-time high of $0.2317, which was reached on January 5, 2018, it is still significantly higher than its lowest point of $0.001804, observed on November 12, 2017. According to CoinGecko, the current price of TRX is 6,971% higher than its all-time low.
The total number of accounts represents the collective sum of all activated addresses in the TRON network. In late July, yellow.com reported Tron’s earnings of $1.42 million, surpassing Ethereum Mainnet’s revenue of $844,276.
This news was particularly noteworthy as it followed a major event for Ethereum, with the launch of spot ether ETFs on July 23.
A glimpse behind Tron’s popularity
Tron is known for its ability to handle many transactions per second. Its scalable architecture makes it a reliable platform for decentralized applications (dApps) and smart contracts that require high throughput.
The Tron network offers low transaction costs, which is attractive to users, especially those frequently transacting small amounts. This is a significant advantage compared to other blockchains, where fees can be prohibitively high during peak network usage.
Tron has a strong ecosystem for dApps, particularly in areas like gaming, social media, and DeFi. Developers have the tools and resources to build and deploy dApps, attracting a vibrant community of developers and users.
Is TRX in for a surge?
At this time, Tron’s milestone does not seem to push TRX in a bullish direction. Oscillators and moving averages suggest a sell. The 50-day EMA is slightly above the 200-day one. The price is below the Hull Moving Average (9) of 0.12937378, which indicates the price will continue to fall.
TRX has lost 6% of its value in the last two weeks and 8.2% in the past month. However, it has gained 65.2% over the past year.
