TRON ecosystem grows amid increasing DeFi activity

The TRON (TRX) network exhibited considerable growth in Q2 in daily active accounts, new accounts, and transactions, as metrics increased by 14%, 13.4%, and 28.9%, respectively, according to a recent report by Messari. Tron Q2 Growth.

Timeline of Tron

Tron was enjoying the highs of its latest bullish strides until it was met with a critical roadblock at the $0.0850 - $0.0940 price level. Will the bulls move forward or will the bears seize control from now on?

In the last 24 hours, Tron [TRX] experienced a 3% dip, presenting mixed signals for investors. Despite its impressive burn rate and deflationary nature, the token's price has not been significantly affected.

Tron was one of the notable movers on Saturday, as the token broke out of a key resistance level to start the weekend. The move came as the global crypto market cap mostly consolidated during Saturday's session. Stellar was another exception, as the token rebounded from yesterday's loss.

Cryptocurrency prices had a mixed performance this week as investors waited for more news and catalysts. Bitcoin and Ethereum moved slightly below $30,000 and $1,900, respectively. At the same time, some coins like Chainlink, Tron, and XDC Network made a bullish breakout.

Crypto analyst Adam Cochran recently caused a stir in the cryptocurrency community when he called attention to a series of TrueUSD (TUSD) transactions made by Tron founder Justin Sun. Cochran highlighted a series of transactions made by Sun's address on the Tron blockchain, including minting $62 million worth of TUSD, withdrawing $50 million in USDT from Huobi, and depositing $50 million in USDT on Bitfinex.

Blockchain technology company Archblock is suing Tron (CRYPTO: TRX) founder Justin Sun for allegedly acquiring TrueUSD (CRYPTO: TUSD) through questionable methods. There were rumors that Sun secretly owned the stablecoin project.

Tron Dao's recent tweet highlighted all the notable developments that happened in its ecosystem over the last seven days. However, despite these positives, TRX's price action was not at par.

Tron saw some exciting movement in the market as its TVL managed to surpass every other blockchain other than Ethereum. Additionally, thanks to the SEC-Ripple decision TRX witnessed a significant boost on 13 July.

Tron [TRX] has been in the limelight for quite sometime now and for all the right reasons. With all the development in the ecosystem and indicators favoring a bull run, TRX has managed to prove it mettle in the market.

The Tron (TRX) Network is set to undergo a major upgrade on July 11th, and TRX and other key metrics have seen a steady uptrend as the upgrade approaches. The upcoming Periander upgrade brings significant enhancements to the Tron Network, while TRX experiences a surge in on-chain metrics.