TRON (TRX) Accounts Surpass 250 Million, But What's the Prospect for Its Token Price?

As the total number of TRON accounts has exceeded 250 million, what are the prospects for the price of TRX, the ecosystem's native token?

The total number of TRON accounts has surpassed 250 million, according to the latest data from the TRON Foundation. This marks a significant milestone for the blockchain platform, which has seen a steady increase in the number of users over the past few years.

At the time of writing, TRX is trading for $0.1276, remaining relatively flat today. The token is still far off from its all-time high of $0.2317, which was recorded on January 5, 2018. However, it is much higher than its all-time low of $0.001804, which dates back to November 12, 2017. According to CoinGecko, TRX's current price is 6,971% higher than the all-time low.

The total number of accounts represents the sum of all activated account addresses on the TRON network. This includes both individual user accounts and accounts created by exchanges, dApps, and other entities.

The milestone comes as TRON has been making headlines for its strong revenue performance. In late July, yellow.com reported that Tron had acquired revenue of $1.42 million, which was substantially higher than the $844,276 reported by the Ethereum Mainnet.

This news was particularly surprising given that it came right after one of Ethereum's biggest moments, with the launch of spot ether ETFs on July 23.

A Glimpse Behind Tron’s Popularity

TRON is a blockchain-based decentralized operating system that was founded in 2017 by Justin Sun. The platform is designed to handle a high volume of transactions per second and to support a wide range of decentralized applications (dApps).

Tron is known for its ability to handle many transactions per second. Its scalable architecture makes it a reliable platform for dApps and smart contracts that require high throughput.

The platform also offers low transaction costs, which is attractive to users, especially those frequently transacting small amounts. This is a significant advantage compared to some 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 they need to build and deploy dApps, which has attracted a vibrant community of developers and users.

Is TRX In for a Surge?

At the moment, Tron’s milestone doesn't seem to be pushing 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.

The above is the detailed content of TRON (TRX) Accounts Surpass 250 Million, But What's the Prospect for Its Token Price?. For more information, please follow other related articles on the PHP Chinese website!