By Franklin Smith
Tron (TRX) and the community celebrates the blockchain’s fourth birthday this week, a crucial milestone. Moreover, the community cheers in style after exceeding 100 million network users. Tron customers crossed the 100 million mark weeks following the USDD stablecoin launch.
Meanwhile, the platform has been improving its scope and plans to extend the move by tapping more opportunities within the cryptocurrency market. Also, Tron announced plans to enter the Metaverse move after observing growth opportunities within the sector.
Parello Laurent, Tron DAO’s advisor, will highlight exploring opportunities with the Metaverse craze during EBC (European Blockchain Convention).
Laurent will join the panel during the event scheduled from June 26 to June 28. As these opportunities might support Tron’s future growth, what’s the impact of the massive user growth in TRX price?
Surpassing the Odds?
Tron attains its latest milestone even with the headwinds plaguing the cryptocurrency market. TRX witnessed a substantial surge in 2021. However, bearish conditions in the marketplace triggered massive discounts for the alternative token.
While writing these lines, the alt traded at $0.064, following a 63% drop from its all-time highs of 2021. Nevertheless, TRX held better than most cryptos and will likely maintain the outlook due to its growth within the past four years.
TRX price witnessed considerable declines within the past 30 days. Also, the asset’s trading volume declined to the lowest monthly zones by June 26. Nevertheless, Tron maintained lucrative network activity over the month.
For instance, it recorded attractive levels in NFT trading volumes. Tron’s NFT trading volume shows the lowest daily non-fungible token trades were beyond $99,000 on June 6 and the highs of $8.07M on June 19.
Tron’s whale supply metric bottomed on June 15 following a massive crash in the month’s first half. Nevertheless, somewhat low accumulation has happened since. Thus, TRX’s price actions remain restrained.
Growth Though Not Growth?
Tron’s impressive user growth doesn’t reflect TRX price actions. Nevertheless, TRX escaping a massive crash compared to its peers shows that demand and user growth offered a softer drop. Moreover, the facets can support healthy recoveries during the upcoming major bull cycle.
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