Tron (TRX) TVL Surges Past $12.8B as the Number of Holders Approaches 90 Million

Tron’s TVL has been increasing quickly as the number of holders continues to rise. Moreover, Tron’s growth has made it the second-largest blockchain

Tron’s Total Value Locked (TVL) has been surging rapidly as the blockchain continues to attract new holders. In fact, Tron now ranks as the second-largest blockchain by TVL.

According to the latest rankings, Tron’s TVL has crossed $12.8 billion, placing it third behind Ethereum. This massive TVL is largely due to the growth of the Tron ecosystem and the increasing adoption of its decentralized applications (dApps).

Top 10 Blockchain Protocols by TVL

TVL is a key metric to evaluate the adoption scale of a Blockchain Protocols by calculating the TVL in the corresponding smart contracts.

$ETH $TRX $BNB $SOL $ARB $BLAST $BASE $AVAX $MATIC $SUI pic.twitter.com/OnGI06RVyh

Moreover, trading activity on Tron has also picked up in recent months. Its 24-hour trading volume now stands at $310 million, indicating an increase of over 39%. This can be attributed to the rising adoption of the protocol and the expansion of its ecosystem.

Long-Term Holders Approaching 90 Million

In addition to the high TVL, the number of long-term Tron holders has also seen a substantial increase. At present, there are close to 90 million long-term holder addresses on the blockchain, which marks a 237% growth over the last year. This indicates that people are十分看好tron dao’s future development.

Both Tron investors and users are gradually becoming more confident in the project’s future by choosing to hold $TRX tokens and not sell or exchange them.

$TRX currently has nearly 90 million long-term holder addresses, an increase of 237% in the past year. This increase reflects strong confidence in @trondao's future, as more people choose to hold $TRX for the long term pic.twitter.com/s75HDUGa7a

The recent growth in long-term holders also highlights how the blockchain industry is shifting its focus towards projects with potential and real value. Tron’s growth and development have been among the primary factors contributing to this trust.

Tron Technical Analysis

On the technical analysis front, Tron has been building on its short-term momentum. The data on the chart reveals that the price is currently trading at $0.1487. A bullish double-bottom formation can be observed, which might suggest further price appreciation in the coming days.

The support level was created at the level of $0. 450 seemed to have been a good support level, which could be the foundation for the next rally.

4-hour TRON/USDT Chart | Source: TradingView

The analysis also established a technical pattern that shows that the stock may trade at about $0.16 if the trend continues. These levels are important to traders, with the ADX indicator at 28. 86 has moderate trend strength, as depicted in the figure above.

The increasing trading volume and the strong support levels suggest that the bulls might be mustering up for a rebound in the token’s price. Tron’s high TVL, growing holder count, and positive technical outlook show that the protocol will continue to grow and thus remain one of the leading players in the blockchain industry.