Tron (TRX) Hits a New Milestone of 5.26M Daily Active Users
- Tron’s daily active users have hit a new all-time high of 5.26 million
- At the same time, Tron’s total daily transaction count has also hit a new all-time high of 6.22 million
- Unique addresses on Tron have also reached an all-time high of 38.58 million
- The 200-day moving average is currently providing TRX with adequate support at the $0.065 price area and its last line of defense before bear territory
The blockchain network of Tron (TRX) has hit all-time highs in several metrics.
To begin with, Tron’s daily active users have hit a new all-time high of 5.26 million. This milestone was identified and observed by crypto community member, Crypto Petrov, who also pointed out that Tron had also hit a new all-time high in daily transactions at a value of 6.224 million.
Tron’s all-time highs in terms of daily active users and daily transaction count have been visualized through the following two charts, courtesy of Tronscan.org.
Tron’s Total Unique Accounts Exceed 38.58 Million
Another Tron metric to hit all-time-high value is the network’s unique address count. According to Tronscan.org, the network now hosts over 38.58 million unique addresses as visualized in the following chart courtesy of the tracking website.
Tron’s 200-day Moving Average is TRX’s Last Line of Defense
With respect to price action, Tron (TRX) is currently trading at $0.068 with the 200-day moving average (green) providing the last line of defense before entering into bear territory as demonstrated in the chart below.
Also from the chart, it can be observed that Tron (TRX) printed a double-top pattern between the months of April and May when the crypto markets were in bullish territory. Tron has since suffered a pullback to the local of $0.05563 set in late May as the crypto-verse digested the following three news events.
- Tesla halting Bitcoin as a payment option for new cars
- Speculation that Elon Musk and Tesla had sold their Bitcoin
- China reiterated its 2018 ban on Bitcoin mining and crypto trading
At the time of writing, Tron is exhibiting some weakness as demonstrated by a reduction in daily trade volume and the daily MACD failing to break past the baseline. This weakness could result in Tron losing the 200-day MA as support, thus leading to a bear trend. Furthermore, caution is advised when trading Tron (TRX) as Bitcoin continues to consolidate between the $30k and $40k price areas.