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Tron Network Records Fresh ATH in This Major Metric
According to on-chain data, the Tron (TRX) network is flashing bullish signals. Notably, the number of daily active addresses on the network has recorded a significant spike. The increase suggests strong organic growth, which could translate into other positives for the network.
Tron price lags behind network activity
According to the CryptoQuant update, the 50-day and 100-day moving averages of daily active addresses have hit an all-time high (ATH). The current level is a historical high for the Tron network, and based on previous trends, such changes usually precede major price movements.
The development suggests that more users are interacting with the Tron blockchain, which is recording increased adoption and usage. This generally leads to an increase in price as more addresses become active and demand grows.
As of press time, Tron's price was exchanging at $0.2735, representing a 1.13% increase in the last 24 hours. Despite this uptick in price, CryptoQuant analysis maintains that the price is still lagging and has not caught up with the increased adoption and users’ activities.
It is likely that the Tron network will experience further price growth to match the spike in daily active addresses. The chart indicates that TRX might experience a potential 570% increase, which could see its price leap from its current $0.2735 to as high as $1.84.
Growth of that magnitude would stun the broader crypto industry, as the highest price level of Tron, achieved in December 2024, remains at $0.4407.
98.44% of addresses in profit as Tron dethrones Cardano
As U.Today reported recently, other ecosystem indicators are bullish. A staggering 98.44% of Tron’s addresses are in profit, a strong indicator of investor confidence in the asset. Additionally, the bullish sentiment could trigger more users to join the network.
Meanwhile, the positive trends have triggered Tron's dethroning of Cardano from ninth place in terms of ranking by market capitalization. Tron currently occupies ninth place, and Cardano has dropped to tenth place.