{"id":551239,"date":"2023-09-14T08:40:34","date_gmt":"2023-09-14T08:40:34","guid":{"rendered":"https:\/\/wncen.com\/?p=551239"},"modified":"2023-09-14T08:14:13","modified_gmt":"2023-09-14T08:14:13","slug":"tron-shows-might-with-4-8-m-daily-transactions-will-this-boost-trx-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/tron-shows-might-with-4-8-m-daily-transactions-will-this-boost-trx-price\/","title":{"rendered":"Tron Shows Might With 4.8-M Daily Transactions – Will This Boost TRX Price?"},"content":{"rendered":"
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.\u00a0<\/span><\/p>\n Recent data<\/span><\/a> from a Nansen report reveals that Tron has been processing a remarkable average of over 4.8 million daily transactions, a testament to its rapid expansion within a relatively short period.<\/span><\/p>\n Tron’s growth<\/span><\/a> can be attributed primarily to its steadfast pursuit of utility and, notably, the burgeoning demand for cost-effective and reliable stablecoin transactions. The stablecoin marketcap has exhibited aggressive growth in 2023, reaching a pinnacle of over $45 billion between May and June, with daily transactions peaking at an impressive 13 million transactions around the same period.\u00a0<\/span><\/p>\n According to recent data from @nansen_ai<\/a>, TRON is processing around 4.8M daily transactions! \ud83d\udd25<\/p>\n We’re glad to see so many people using this network and we’re looking forward to increasing that number. \ud83d\ude80<\/p>\n Take a look at more data here: https:\/\/t.co\/weWHfWXz2k<\/a> pic.twitter.com\/z47TpyIRpQ<\/a><\/p>\n \u2014 TRON DAO (@trondao) September 12, 2023<\/a><\/p><\/blockquote>\n What’s particularly noteworthy is that these daily transaction volumes have been achieved during a relatively subdued phase in the cryptocurrency market, suggesting the potential for even higher transaction counts during bullish market conditions. This robust adoption underscores Tron’s resilience and appeal within the blockchain ecosystem.<\/span><\/p>\n The cryptocurrency market has reacted positively to Tron’s outstanding performance. At the time of writing, TRX is priced at $0.081092, according to <\/span>CoinGecko<\/span><\/a>, showing a modest 0.8% gain over the past 24 hours and a 2.6% increase in the seven-day period.\u00a0<\/span><\/p>\n <\/p>\n However, it’s essential to exercise caution as Tron continues its upward trajectory. According to cryptocurrency data provider <\/span>Messari<\/span><\/a>, TRX is one of the digital assets that could face price fluctuations due to impending FTX liquidations.<\/span><\/p>\n FTX LIQUIDATIONS UPDATE<\/p>\n FTX liquidators hold approximately $1.3 billion of liquid crypto assets (excluding stablecoins) which have been dragged down by fear of FTX liquidations potentially beginning Wednesday.<\/p>\n Largest holdings: $SOL<\/a>, $BTC<\/a>, $ETH<\/a>, $APT<\/a>, $DOGE<\/a>, $TRX<\/a>, $MATIC<\/a>\u2026 pic.twitter.com\/ki3l6xKgPf<\/a><\/p>\nDriving Forces Behind Tron’s Surge\u00a0<\/strong><\/h2>\n
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TRX market cap currently at $7.2 billion. Chart: TradingView.com<\/a><\/pre>\n
FTX Liquidations Pose Potential Risks<\/strong>\u00a0<\/span><\/h2>\n
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