Tron (TRX) Ranks 1st in Transactions Per Second, Eclipsing ADA and XRP
- According to Coinmetrics, Tron is the fastest blockchain in terms of transactions per second
- Tron’s throughput exceeds that of Bitcoin, Ethereum, Cardano and XRP
- Tron’s users continue to grow with the network exceeding 40 million unique accounts
- However, TRX is currently trading above the 200-day moving average with a potential death cross, only weeks away
The Tron (TRX) network ranks first in terms of handling the highest number of transactions per second. This milestone was observed by Tron community member @TronixTrx who went on to explain that Tron is currently handling more transactions per second than Bitcoin, Ethereum, Cardano and XRP.
@TronixTrx shared his analysis via the following tweet, with a chart from Coinmetrics to further demonstrate how Tron leads the rest in transactions per second.
According to @coinmetrics, #TRON ranks first in the number of transactions per second compared to #BTC, #ETH, #ADA, and #XRP 💪❤️ pic.twitter.com/elAm5NcwZ3
— TRON Community 🅣 (@TronixTrx) June 16, 2021
Tron Has Been Handling More Transactions Per Second Than XRP Since January
A quick glance at the same data from Coinmetrics reveals that Tron overtook XRP in January, in terms of transactions per second. This fact has been highlighted by the following chart courtesy of the tracking website.
Unique Users on Tron Exceed 40 Million
In terms of network growth, unique addresses on the Tron network have just exceeded 40 million. The project’s founder and CEO, Justin Sun, shared this new milestone via Twitter and thanked the Tron community for its support over the years.
A Death Cross is On the Horizon for Tron (TRX)
With respect to price action, Tron is currently trading at $0.0715 with the 200-day moving average offering solid support at the $0.067 price area.
However, Tron is currently staring at a death cross that could occur in the first few weeks of July. The possibility of such an event occurring has been highlighted in the following daily TRX/USDT chart.
Also from the chart, it can be observed that Tron’s trade volume has been reducing since the massive crypto-wide selloff of last month. Furthermore, the daily MACD is indicating additional weakness by Tron (TRX) that could lead to the ultimate loss of the 200-day moving average as support. The daily MFI and RSI also confirm the stated weakness.
Therefore, and despite the impressive on-chain metrics on the Tron blockchain, the digital asset of TRX could be headed for a tough few weeks in the crypto markets. Consequently, caution is advised when longing Tron (TRX) moving forward.
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