Why is Tron (TRX) Price Up?

Tron's native token TRX has awakened from a seven-year slumber, shattering previous price records. Social media buzz and on-chain metrics reflect growth across the network's ecosystem, suggesting this rally may have deeper roots than mere speculation.

Tron’s (TRX) native token has experienced a remarkable price increase, surging to a new all-time high (ATH) following a seven-year slumber. This rally has sparked curiosity, with many wondering about the driving forces behind TRX's impressive price performance.

According to Coinpedia, TRX soared to a new ATH of $0.4407 on March 13. This price surge is accompanied by exceptional performance in core metrics. Total revenue reached $237 million, indicating an 18% increase.

Moreover, the ecosystem continues to expand its user base, with TRX holders growing to 159 million, a 3% rise. The network processed 9.08 billion cumulative transactions, while total accounts climbed to 276 million. This growth in fundamental metrics comes alongside a minor reduction in token supply, which decreased by 0.18%.

CoinGecko data reveals that TRX trading volume surged past $15.9 billion in 24 hours. At press time, the token recorded gains of 66.94% during this period and 98.51% over the past week, currently priced at $0.3921.

Coinpedia's technical analysis highlights strong momentum, with the RSI reaching 92 in overbought territory. The Ultimate Oscillator reinforces bullish sentiment with a buy signal, setting price targets at $0.5528 with potential movement toward $0.7523.

Crypto analyst Wise Advice reports on the impressive growth in Tron's ecosystem metrics. The network's Total Value Locked (TVL) doubled to $13.68 billion, and daily active users increased by 38% to reach 2.58 million.

Trading volume soared by 165% to $31 billion. The platform's stablecoin market capitalization achieved a new peak at $61 billion, contributing to a $20 billion increase in total market capitalization within a month.

These developments have sparked discussions about future price targets, although market movements are inherently unpredictable. The data suggests that Tron's growth is driven by increased network adoption and usage, supported by strong fundamentals across multiple metrics.