Tron Network Activity Drops After October Surge – What Went Wrong
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- Tron’s user engagement and transactions have surged over the past month.
- TRX faced downward pressure, suggesting a potential price drop.
The blockchain experienced significant growth in network activity throughout October. This points toward increased adoption within its ecosystem. However, TRX struggled to sustain this upward trajectory as conditions shifted in November. Tron’s Progress in October
Lookonchain recently shared a tweet
highlighting Tron’s achievements during the first quarter’s fourth month. The tweet indicated that there were 238.6 million transactions recorded on the blockchain during October, reflecting an increase of
8.15 percent compared to previous months.
Furthermore, on October 24th, Tron transactions hit an all-time record of 10.46 million.
AskFX expressed astonishment at these encouraging statistics and delved into data provided by Artemis
and
to gain deeper insights into blockchain activity for October.
Our analysis illustrated that daily active addresses remained elevated during this period as well,
indicating robust utilization of the network.
Apart from these metrics,
the performance within value capture has proved promising too.
Both TRX’s revenues and transaction fees saw an uptick last month,
even though TRX’s total value locked abbreviated noticeably within DeFi.
Despite solid growth across many network indicators during October,
Tron struggled to maintain momentum into November.
Since early November began winding down,
the count of active addresses dropped sharply from 2 million down to 1.7 million. span >
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Consequently , overall transaction volumes fell too , mirroring declines in platform usage .
Revenue & fee charts for Tron also displayed similar trends throughout November .
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p > Source: Artemis p > div >
What’s up with TRX?
The price point for TRX began witnessing stability with entrance into November . Its valuation barely fluctuated over preceding days ; currently trading around $0 .1623 . There exists potential for shifts ahead.
When ratios imply long positions outweigh shorts observed lately!
” Read Predictions on “TRON prices through upcoming forecasts till ’24-’25!
But challenges persist: Despite stabilization amongst some figures—TRC weakened breaching important supports near $0 .
Moving Average signals implying possible slides somewhere toward $0.
This indicates ongoing difficulties could arise before freshness returns potentially after adjustments made effectively seeking renewed strength historically recognized once more… Blasting off again!
Open avenues availing opportunities instinctively approaching measured steadily sometimes accrued gradually!
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