- TRON Network’s active addresses surged by 64% in 2024
- TRX’s price hiked exponentially this year, climbing to a new ATH of $0.450
Throughout the year, TRON [TRX] has recorded an explosive uptick on the price charts. Since the start of the year, TRX has surged from a low of $0.105 to an all-time high of $0.450 recorded a month ago – A 328.75% hike.
As TRON saw its native token TRX grow in 2024, the altcoin’s blockchain also saw some exponential growth. Especially on its active addresses front.
TRON Network’s Active Addresses surge by 64% in 2024
According to CryptoQuant, the network is still seeing some impressive growth. Despite the recent price performances of TRX on the charts.
Source: CryptoQuant
In fact, the altcoin’s active addresses have surged by 64% since the start of 2024. This strong uptick underscores the blockchain’s growing popularity and adoption.
Amidst this growth in addresses, TRON blockchain has also seen a thriving DeFi and NFT ecosystem, one that continues to attract users and developers. Equally, TRON’s scalability and efficiency have made it a preferred blockchain for decentralized applications.
Therefore, as the year comes to a close, the TRON network’s rapid growth set it as a top contender in the blockchain space. As such, the growth in activity marks an exciting chapter ahead for the blockchain, investors, and all stakeholders.
Any impact on TRX?
Usually, a sustained growth in network adoption has a positive impact on a token’s price. This trend has been seen throughout the year as the price has often accompanied network growth.
However, in the short term, TRON’s native token TRX has struggled to keep pace. Since the November rally driven by the U.S presidential elections, TRX has failed to reclaim higher resistance levels on the charts.
In fact, according to AMBCrypto’s analysis, bearish sentiments have persisted as investors became impatient with the prolonged consolidation.
Source: Santiment
We can see this bearishness as TRON’s weighted sentiment has remained negative over the past week.
According to Santiment, investor sentiment has remained negative since 03 December as the altcoin started to drop and later, consolidated.
Source: Coinglass
Additionally, on the weekly charts, TRX netflows have turned positive for 2 consecutive periods – A sign of greater inflows into exchanges. When inflows outweighs outflows, it means that the altcoin is facing more selling pressure.
Source: Coinglass
Finally, this bearishness seemed to be even stronger on a short-term basis. According to the Long/short ratio, most traders have been taking short positions. With shorts dominating the market, it implied that most investors are anticipating the price to decline.
In conclusion, 2024 has been a fantastic year for the TRON network and its native token TRX. Through this period, prices have surged to historical highs, accompanied by growing active addresses. Going to 2025, all stakeholders are hoping that TRON and TRX will continue to grow.
In the short term though, TRX has been struggling to record more gains. For the altcoin to recover through 2025, it has to break out from the consolidation range and reclaim $0.3. However, if market bears continue to hold the market, TRX risks dipping below $0.2.
