Tron Shows Might With 4.8-M Daily Transactions – Will This Boost TRX Price?

Tron (TRX), the blockchain platform founded by Justin Sun, has been showing a good performance for the most part of 2023. The project, which was launched just six years ago, recently registered an impressive surge in transaction activity, underscoring the increasing organic demand for the TRX cryptocurrency.

Timeline of Tron

Tron's rapid growth over the last few years and especially in 2023 underscores more potential organic demand for the TRX cryptocurrency. It is thus no surprise that the cryptocurrency maintained an overall uptrend since November last year.

In a recent turn of events, Justin Sun, the founder of TRON, has expressed his interest in bidding for the assets and tokens of the now-bankrupt cryptocurrency exchange, FTX. This move comes as a strategic attempt to alleviate the selling pressure that has been mounting in the cryptocurrency industry.

Tron (TRX) has orchestrated an impressive recovery, bouncing back from last week's dip of $0.07000 and regaining losses it incurred this month. As of the latest data from CoinGecko, the TRX price currently stands at $0.076, despite a minor 1.2% decline over the past 24 hours.

Tron blockchain has been outshining almost all of its competition in terms of TVL growth. It currently has the second highest total value locked, trailing behind the Ethereum network

Q2 of 2023 brought some good news for Tron as it was the only blockchain after Cardano that saw positive momentum in terms of its TVL. With a weak bearish sentiment, will TRX see some bullish movement in the coming days?

Tron's latest bearish moves were seen giving way to the bulls considering TRX's sideways action. Additionally, Tron also announced that it would embrace Huawei's Node Engine Service.

Bitwage is pleased to announce the integration of Tether USDT via TRON network, marking another significant milestone in their journey “to deliver seamless cross-border and multi-currency services.

In a recent development that has caught the financial and crypto sectors' attention, Justin Sun, the visionary behind the Tron blockchain platform, has reached out to global payment giant PayPal. Sun's proposition?

Crypto analyst Adam Cochran has released a Twitter thread alleging Huobi and Tron's executives were arrested in China. According to Techub News, he says, credible sources have disclosed that the Chinese police have taken at least three Huobi encryption exchange executives into custody for investigation involving areas like manpower, R&D, and finance.

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.