Cypher
AltcoinCryptocurrencyNewsPrice AnalysisStablecoinTerra (LUNA)Tron (TRX)

TRON (TRX): Investors Should Watch These Metrics Before Any Move

Indeed, the crypto market flourished over the past seven days, with assets such as ATOM, HNT, LUNC, and LUNA recording double-digit surges surpassing 20%. Nevertheless, the top-ranking TRX could not ensure similar upticks. Coinmarketcap data shows Tron witnessed no growth within the previous week.

Tron Over Past Seven Days

Tronscan data shows the open-source platform, Tron, also recorded dips in some crucial metrics. For instance, new accounts joining the blockchain per day dropped by 5% over the previous week. The number stood at 126,644 by September 5.

Moreover, total Tron holders declined by 1% over the previous week, with the index at 71,721,632 holders during this publication. Also, overall transactions conducted on Tron plummeted by 11% within the phase under review. Total transactions executed on the network hovered at 4,723,396 by September 12.

Cypher

On the network’s USDD stablecoin, the algorithmic token didn’t see substantial growth in holders during the timeframe under review. Tronscan data shows USDD’s holder hovered at 121,192 by September 12.

📰 Also read:  Crypto Exchange Liquidity: What Is It And How Does It Work?

Assessing TRX

While publishing this post, TRX traded at $0.06362, witnessing no notable price actions within the past week. That timeframe had the TRX token exploring the lows of $0.060 on September 8 before bulls triggered upticks that pushed the alternative tokens towards the $0.063 value area.

Meantime, TRX swayed 78.80% lower from its $0.3004 all-time high during this publication. The daily chart shows TRX trading inside a constricted range since August end. Selling pressure amplified due to the persistent decline in investor liquidity within the Tron marketplace.

The token’s RSI (Relative Strength Index) stood beneath the neutral-50, reading 40. Also, its MFI (Money Flow Index) maintained downsides at 47. Moreover, the CMF (Chaikin Money Flow) depicted the weakened buying strength for TRX, with its dynamic line standing beneath the center line (0.0) at -0.08.

The continued TRX price dip had the weighted sentiment negative for most of last month. The metric hovered at -0.651% during this publication. Indeed, Tron sees bearish tendencies at the moment as bearishness highlight more decline. Let us wait for what the upcoming price actions will bring.

📰 Also read:  Cardano Boss Comments on Cardano-FUD, Alliance with World Mobile Progresses

Stay tuned for the latest crypto updates.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Southeast Asia Bolsters Groundwork Towards Blockchain and Crypto Hub

Cypher

James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content