Connect with us
Active Currencies 13003
Market Cap $2,456,075,191,749.80
Bitcoin Share 49.81%
24h Market Cap Change $0.53

Tron [TRX]: Growing deflation, increasing transactions, other key highlights

2min Read
Tron [TRX]: Growing deflation, increasing transactions, other key highlights

Share this article



  • TRX has experienced deflation for 70 consecutive weeks.
  • The total number of transactions on the network went past five billion.

TRON [TRX] shared a report on the network’s notable developments that took place in the last week. One of the highlights was the significant increase in the deflationary pressure exerted on the native coin.

 

According to TRON, TRX has experienced deflation for 70 consecutive weeks starting from 28 October 2021 until 2 March 2023. During this time, its circulating supply fell by 10.57 billion. Data from Tronscan validated this assertion.

Source: Tronscan

 


How much are 1,10,100 TRXs worth today?


Tron reaches key milestone in transactions

The other major talking point was Justin Sun’s views on the regulation of crypto markets around the world. In an interview with CNBC. the Tron founder stressed the need for a unified blockchain standard for global payments and settlements.

The other major development was Tron’s integration with Uphold, a multi-asset crypto trading platform. The tie-up was expected to enable TRX holders to self-custody their assets and have more control over them.


At the same time, TRON got one more reason to cheer as the total number of transactions on the network went past five billion.

Strong growth in NFT trading

The boost in the number of transactions could be due to increased activity on the NFT front. As per Santiment, the total NFT trade volume hit $730.5K, an increase of more than six times over the previous week.

On the flip side, development activity fell sharply in the last week. This could cast doubts in the mind of investors regarding upcoming upgrades.

Source: Santiment

On the other hand, the total value locked (TVL) on Tron’s smart contracts dipped below $5 billion, registering a drop of more than 6% in the last seven days, data from DeFiLlama revealed.

The gains made in TVL since mid-February were reversed, at the time of writing.

Source: DeFiLlama


Read TRON’s [TRX] Price Prediction 2023-24


At press time, TRX exchanged hands at $0.06691 with a marginal drop from the previous day, as per CoinMarketCap. It logged gains of about 4% in the month-over-month period.


Share

Saman is a News Editor at AMBCrypto. Her background in History and English expanded on her knack for editing and presenting all sides of a story without bias. With a strong will to learn, Saman is always up for exploring unknown territory, and crypto, with its ever-changing landscape, offers just that.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.