Tron (TRX) Price Poised for a Major Bull Run as Adoption of Tron Network Grows
- Barbara StreisandOriginal
- 2024-10-17 00:56:12381browse
Tron (TRX) price has gradually been grinding up since early 2023, despite the short-term crypto correction experienced since early March this year.
Tron (TRX) price has been rallying in H1 2023, even as the broader crypto market experienced a short-term correction in early March this year. The top altcoin, which has a fully diluted valuation of around $13.7 billion and an average daily trading volume of over $451 million, has been retesting its 2021 all-time high (ATH) in recent weeks.
TRX price is now positioned for a major bull run in the near term, having underperformed its peers in the 2021 crypto bull run. Furthermore, the altcoin sector has been preparing for a breakout after lagging behind Bitcoin for the last couple of months.
Also Read: Tron (TRX) Surges 7% Following Integration with Digital Currency Group
Rising Adoption of Tron Network
The Tron network has evolved into a thriving web3 ecosystem with over 153 million holders. According to on-chain data analytics, the Tron network is the second-largest web3 ecosystem after Ethereum (ETH), based on funds locked by various DeFi protocols.
At the time of writing, the Tron network had over $7.4 billion in total value locked (TVL) and over $60 billion in stablecoins market cap. In the last 24 hours, the Tron network reported over 2.3 million active addresses.
On October 15 this year, #TronNetwork's revenue was $7.28M, compared to $2.69M last year, a 170% increase year-over-year.
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