In 2024, the TRON network experienced explosive growth, with the number of active addresses increasing by 64%, and its native token TRX price soaring from the year's low to a historical high of $0.450. However, as the year comes to a close, TRX's short-term trend appears ambiguous. Will this altcoin continue to challenge new highs in 2025, or will it be suppressed by bears? Let's find out.
TRON in 2024: A Comprehensive Rise from Addresses to Prices
In 2024, the TRON network underwent a complete transformation, becoming one of the most notable players in the blockchain space. According to CryptoQuant data, the number of active addresses on TRON surged by 64% since the beginning of the year, indicating a continuous rise in the network's adoption and user engagement.
The strong performance of the TRON blockchain is not only reflected in user growth, but its DeFi and NFT ecosystems also made leaps in 2024. With efficient transaction speeds and excellent scalability, TRON attracted a large number of developers and users, becoming one of the preferred platforms for decentralized applications.
However, contrasting with the network's popularity, TRX's price seemed 'lonely at the top' by the end of the year, showing signs of weakness on the chart. Although its annual increase reached an impressive 328.75%, TRX failed to break through key resistance levels after a brief rebound driven by the U.S. presidential election in November, entering a consolidation phase.
Why is TRX facing a downturn? Signs of bearish sentiment in the market
From market data, TRX's recent performance has been constrained by various negative factors:
Investor sentiment is low
Santiment data shows that since the price entered a consolidation phase at the beginning of December, TRX's weighted sentiment has remained in negative territory. The intensification of bearish sentiment has led more investors to choose to stay on the sidelines.Increased selling pressure
Data on net capital flow over two consecutive weeks shows that the amount of TRX flowing into exchanges is greater than the amount flowing out. This signal indicates greater selling pressure in the market, and prices may face further pressure in the short term.Bears dominate the market
According to the long/short ratio, most traders lean towards short positions, indicating a lack of confidence in TRX's short-term price rise. If this trend continues, TRX may break below the key support level of $0.2.
2025 Outlook: Is TRX a Breakthrough or a Lull?
Although 2024 was a glorious year for TRON, the overshadowing of market bearish sentiment made TRX's short-term performance appear dim. Looking ahead to 2025, TRX needs to overcome the following two main challenges:
Break through the consolidation range: TRX must successfully break through the current resistance level and reclaim $0.3 to attract more bullish entries and open up further upward potential.
Ease selling pressure: If the current capital flow can be reversed and market confidence strengthened, TRX will have a better chance of stabilizing its footing and advancing towards new highs.
Despite the uncertainty in short-term trends, the long-term potential of the TRON network cannot be ignored. With the continued expansion of the DeFi and NFT sectors, along with further amplification of network effects, TRX is still expected to welcome a new wave of growth in 2025.
TRON's 2024 is a journey from glory to challenge. The surge in active addresses by 64% and TRX price soaring to historical highs are undoubtedly noteworthy achievements. However, the short-term market sentiment's gloom also reminds investors that the growth of any asset is not always smooth.
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