Is the price of Tron (TRX) ready for a big breakout?
the #Tron price is on the verge of reaching all-time highs after more than 6 years of macroeconomic consolidation.
the Web3Tron ecosystem has been thriving lately due to coin #meme activity.
In the coming months, the long-awaited altcoin season will begin, bringing #TRX into the price discovery phase.
Tron (TRX) recorded a 17-day closing price above 1 cent for the first time since 2021/5. The large altcoin, which has a fully diluted valuation (FDV) of around £15.2 billion, more than tripled its average daily trading volume over the past week to reach around ¥17 billion on Wednesday, 1:13 p. m. , at the start of the New York session.
While the price of #Bitcoin (BTC) hit new all-time highs earlier this week, the TRX price rose 8% to a multi-year high of around $0.1914 million. At the time of writing, the TRX price is trading at 0.176 and is currently 24% away from an all-time high.
Amid the massive proliferation of digital assets and the web3 protocol, the Tron network has become one of the leading candidates in the growing list of Level 1 (L1)1 blockchains. According to the latest data, the total blockchain value (TVL) of the Tron network is around 7726,000,000 million and the market value of the stablecoin is nearly $6,600 billion.
Transactional activity on the @Trondao network is not supported by any other Layer 1 network.
According to data provided by IntoTheBlock, the Tron network has processed more than 50 million transactions per week since the beginning of the year. Thus, since its inception, the Tron network has processed more than 8.9 billion transactions and attracted more than 27,100 million account holders.
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