A significant achievement for the blockchain industry is that TRON has announced that the total number of transactions on its network has surpassed 7.8 billion. This milestone underscores the growing adoption and robust activity within the TRON ecosystem.
Today, TRON boasts over 235 million total accounts, a testament to its expanding user base and the increasing trust in its platform. A tweet celebrating this news highlighted these impressive figures, signaling TRON’s continued influence and success in the competitive blockchain space.
👏Congratulations! The total transactions on #TRON exceeded 7.8 billion.#TRON now has over 235M total accounts and 7.8B total transactions. #TRONSCAN pic.twitter.com/HvB4y3KLOg
— TRONSCAN (@TRONSCAN_ORG) June 11, 2024
TRON Price Review: How Has TRX Reacted to the News
Analysing Tron price charts, we see that the Bollinger Bands show that TRON’s price has recently been trading within a relatively narrow range, suggesting a period of consolidation. The price is slightly below the middle Bollinger Band, indicating a neutral to slight bearish sentiment in the short term. On the other hand, the 20-period Simple Moving Average (SMA) is currently above the most recent price, indicating resistance in the short term. The price is headed towards a crossover below the SMA, suggesting that the bulls are losing some control, and there might be potential downward pressure in the upcoming sessions.
4-hour TRX/USDT Chart | Source: TradingView
The Relative Strength Index (RSI) is near 60, slightly above the midpoint but still under the overbought threshold of 70. This suggests that there is still room for upward movement before the market becomes overbought, indicating a somewhat bullish momentum currently.