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Tron (TRX): Network is growing, course is stagnating



 The cryptocurrency Tron (TRX) cannot set new standards, at least in terms of price. Nevertheless, the network and the associated cryptocurrency TRX enjoy great popularity.

Numbers of 2018 not yet reached after a drop of 97 percent

With a price of around 0.09 US dollars and a resulting market capitalization of almost 9.2 billion US dollars, Tron (TRX) is currently 22nd among the most valuable cryptocurrencies. Like Ripple's XRP, the cryptocurrency designed by Justin Sun is one of the few cryptocurrencies among the top 25 that were unable to set a new all-time high in this year's bullrun. At TRX, this dates from January 5, 2018, when a price of 0.30 US dollars was quoted.

Subsequently, it continued to decline in value through March 2020 and even fell to below $ 0.01. This corresponds to a price drop of around 97 percent. In fact, TRX is not alone - numerous cryptocurrencies lost between 90 and 99 percent of their value after an unbelievable bull run in 2017/2018 - Cardano (ADA), Ripple (XRP), or Litecoin (LTC) were also among them.

Nevertheless, some investors are disappointed that TRX has not yet come close to the level of then, while many other cryptocurrencies such as ADA or LTC were at least able to set new maxima. TRX didn't get more than $ 0.18 in 2021.

Easily rearing up on Binance?

Nevertheless, TRX currently seems to be able to look back on a solid basis, as Tron has recently been a little less volatile compared to other cryptocurrencies. The crypto market is currently struggling with at least a short-term bearish phase. Bitcoin, for example, has lost around 30 percent of its value since reaching its all-time high of $ 69,000 on November 10, 2021, and is now trading at just $ 48,700. One analyst is now even speaking of a further price drop to $ 31,000 .

As the latest data shows, Tron was the third most-purchased cryptocurrency on the Binance Smart Chain on December 10, ahead of Ethereum. So the interest in TRX still seems to be there.

More and more accounts

Even if TRX did not come up to the level of 2018 in terms of course technology in 2021, the increasing number of users is also to be assessed positively. The number of total accounts at Tron in the last 24 hours has increased by around 188,000. According to Tronscan, there are now more than 66.2 million accounts. After all, 2 million accounts were last active.

In the USA, the focus was recently on TRX alongside ADA, as the online broker eToro will remove both coins from the platform on December 26, 2021. Since eToro also offered staking for both coins, there could be a noticeable shift here soon. However, the decision does not apply to other countries, so that many users can continue to keep Cardano and Tron on the platform.

Tron is to be understood as an alternative to Ethereum and also enables smart contracts. In the DeFi sector in particular, the Tron network seems to be establishing itself, as the value of the coins used has already reached almost eleven billion dollars.

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