TRON has raised the bar in recent weeks with the reversal of market sentiment. The network performed well last week with some on-chain data signaling growing trader optimism.
According to reports, the total number of accounts on TRON recently reached 104.8 million while the total number of transactions reached 3.61 billion.
Sunshine + Rainbows
TRON published a report in its weekly updates highlighting key data from network performance. The report revealed that TVL on TRON reached $11.3 billion at the end of July.
Additionally, there are a total of 4,050 active dApps on TRON, according to dapp.com. According to a tweet from Tron Scan, these indicators have made Tron “the second largest public chain by stablecoin market cap and the Top 3 largest public chain by TVL”.
The report further stated that JustLend DAO passed security audit by blockchain security firm CertiK.
The DAO was even ranked in the top five of CryptoDiffers Top 15 DeFi Projects by TVL.
In fact, trading volume on the JustLend DAO tripled from $1.28 million on July 26th to $3.83 million on July 27th. JustLend dominates TRON DeFi with its high TVL, followed by SUN.io in a distant second place.
Source: BitDegree
That said, TRX, at press time, was trading at $0.06 after consolidating during the day. It has posted gains this week after bullish activity pushed the token up 3.56%.
However, trader activity decreased last day as volume fell by 12.87% on the daily chart.
TRX’s RSI remained in the neutral zone, but was showing signs of improvement. At 54, at press time, the RSI price was leaning towards overbought territory.
Source: CryptoQuant
These indicators position TRON as a growing ecosystem in the crypto market. Meanwhile, Justin Sun, the founder of TRON recently declare yourself that his organization recently plans to spend over “$5 billion” to save the crypto market.