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- Tron’s TVL is fast approaching $7 billion, a key sign of a healthy network and trustworthy platform for users.
- Tron’s TRX has recorded impressive gains in the last couple of days despite being knocked out of the top ten ranked coins.
Recent data shows that TRON has undergone some impressive growth. According to data from, a DeFi TVL aggregator, DefiLlama, the network’s Total Value Locked (TVL) has witnessed a notable surge that has seen it inch close to $7 billion. This data shows that the TVL has seen a surge of more than 6 percent in the last 7 days, and at the time of press stands at $6.969 billion. Tron has continued to impress in spite of the ongoing bear market that has seen a majority of networks slow or reverse their upward trajectory.
Tron now has the second-highest TVL after Ethereum which has around $21.3 billion, making up more than 50 percent of the market share. Tron commands a little over 17 percent of the market share with its closest rival BNB Smart Chain (BSC) only garnering around $2.7 billion in TVL.
A high TVL is a positive sign for the network as it indicates a healthy network in both security and stability. Furthermore, it is an indication of the trustworthiness of the network. Ideally, the growth of TVL means additional liquidity investment which directly impacts the network’s native token. In this case, Tron’s TVL growth should positively impact TRX.
In part, this has been the case. As Tron’s TVL has risen in the last 7 days, TRX has recorded a nearly 4 percent increase. But this is a shared narrative among its peers, indicating that it is part of a wider market rally spearheaded by Bitcoin (BTC) which now trading above $30,000. In the last 7 days, TRX’s rally has seen the altcoin climb to the top ten coins by market cap, but this position was quickly surrendered after a stellar performance by Dogecoin (DOGE).
Tron (TRX) Signals Bearish Outlook
At the time of press, TRX is trading for $$0.090838 with a market cap of a little over $8 billion. Sitting at 11th position, its immediate rival is DOGE at 10th with a market cap of $8.8 billion.
Despite an all-round performance that puts TRX among the key cryptocurrencies to watch, it has shown some bearish signals that are of concern to traders. For the last couple of weeks, TRX has witnessed a surge in demand which has propelled its price. TRX’s recent upside resulted in a price-RSI divergence, which often signals a pivot. The bulls could be losing momentum and could look to cash in on the recently gained profits.
There has also been a notable dip in buying volume and a rise in selling volume at the start of the week. If this pressure persists, it could lead to a bullish reversal that wipes out recent gains. Nevertheless, the project and native token remain long-term bullish.
