TRON, the native cryptocurrency of the blockchain community bearing the identical identify, continues to battle because it fails to break away from its bearish momentum.
According to monitoring from Coingecko, the 16th largest cryptocurrency when it comes to market capitalization is buying and selling at $0.050 on the time of this writing.
For the previous seven days, the altcoin has dropped by nearly 10% whereas over the past two weeks its worth has declined by 20.2%.
On a month-to-date gauge, the digital asset has dumped 17.8% of its spot buying and selling value, portray its total chart in crimson.
However, whereas TRON stays unsuccessful in initiating a bullish run to reclaim increased buying and selling session costs, its community is performing comparatively effectively because the protocol was ready to publish spectacular numbers final week.
TRON Network Activity Remains Upbeat Amid FTX Crisis
TRON DAO, the official Twitter account of the blockchain community shared some of the highlights of the protocol’s efficiency for the interval of November 7 to November 13.
At the conclusion of the precise timeframe, the whole variety of accounts related to the blockchain reached 119,949,499 whereas the general tally for transactions facilitated over it hit the 4.19 billion mark.
TRON’s blockchain peak surpassed the 45.83 million and its Total Value Locked (TVL) peaked at $12.3 billion.
It is essential to observe that this impressive growth in both network activity and value occurred throughout the identical week when the crypto area was ravaged by the unfavorable results of the collapse of the FTX crypto change platform.
Following Binance CEO Changpeng Zao’s determination to again out of preliminary plans to purchase the change after the announcement of promoting all of its FTT tokens, the crypto market was immediately painted in purple as Bitcoin, Etheruem and the remainder of the altcoins skilled extreme value dumps.
TRON Founder Gives His Take On The Future Of NFTs
During a latest interview, Justin Sun, the founding father of TRON, expressed his ideas concerning the present state of affairs of the non-fungible token (NFT) trade.
According to Sun, sadly, the present technology of NFT tokens doesn’t provide a lot when it comes to utility and that this is one thing that wants to be addressed if this explicit digital asset class hopes to develop exponentially within the close to future.
He emphasised his level by saying that in this essential section of Web3 growth, these customizable tokens would be the focus of many developments and tasks.
For its half, TRON appears to be doing effectively on this division as its NFT ecosystem additionally managed to report an uptick when it comes to commerce depend and commerce quantity.
TRONUSD buying and selling at $0.05157304 on the weekend chart | Featured picture from Coin Edition, Chart: TradingView.com