- Tron Network hits 216 million accounts, marking a big milestone in web decentralization.
- TRX token shows positive growth but is still below its highest price, with 3.3 million lost addresses.
The Tron Network has reached a significant milestone, with its total number of registered accounts surpassing 216 million. This achievement underscores the platform‘s ongoing efforts to decentralize the web since its inception in 2017. Tron has emerged as a prominent player in the digital currency ecosystem, offering fast and cost-effective transactions. Notably, it hosts the popular Tether (USDT) stablecoin, further solidifying its position in the market.
Insights into Tron Network Growth
According to insights from crypto analytics platform IntoTheBlock (ITB), Tron’s native token, TRX, has seen a 9.55% increase in value over the past month. Tron is still attracting a significant number of users, with profitability at 113.95 million addresses, or 95.28% of the total. The 99% recorded in the middle of February has been replaced with a lower number.
On top of that, 3.3 million addresses, or 2.76% of the total, that bought TRX between $0.138640 and $0.166333 lost money. While this happens, 2.35 million addresses, or 1.96% of the total, have purchased TRX during the $0.135160–$0.138640 price range. The price of TRX is still over 54% below its All-Time High (ATH) of $0.3004, even with these encouraging figures.
Indicators like Daily Active Addresses can better understand Tron’s optimism, even though the total number of accounts indicates overall growth. According to ITB data, the number of Daily Active Addresses has increased by 11.78% to 2.38 million over the last day. Since February 24, this measure has grown steadily, highlighting Tron’s growing user base.
The number of non-zero addresses on the Tron Network exceeded 95 million as of February 28, highlighting a consistent upward trend in a number of different parameters. This pattern appeals to a wide range of users and has a beneficial impact on Tron’s ecosystem.
Bright Future Ahead
In a recent tweet, Justin Sun unveiled plans for the forthcoming TRON-based inscription marketplace. With Bitcoin Ordinals’ recent success, the site is well-positioned to benefit from the inscriptions’ rising popularity. TRON wants to give digital content enthusiasts and creators a flexible marketplace by permitting the creation of NFTs from inscriptions in various data types, including photos, video, and audio.
Exciting news, the inscription market based on #TRON is about to launch, developed by the @apenftorg #NFT team. Many thanks to our TRON developers, and welcome all developers to develop in the TRON ecosystem. #TRX
— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 4, 2024
The APENFT Foundation’s NFT team and TRON developers worked together to create the inscriptions marketplace. Sun highlighted the ecosystem’s openness and extended an invitation to all developers to help it flourish. Despite the lack of clear launch details, the TRON community is excited about the announcement.
The price of TRON’s native token, TRX, increased by 0.4% on the last day, but trading volume increased by 21.48% from the day before. TRX is trading at $0.13, indicating a slight 2.1% price increase over the previous seven days. Even with the good news about the inscription marketplace, TRX’s price movement shows a restrained market reaction, suggesting that investors would hold off on making changes to their positions until further information is available. Aiming to continuously expand its offerings and foster innovation, Tron inspires optimism among stakeholders over future growth and acceptance.
