Tron (TRX) has seen massive gains as it continues on a bullish path following new developments in the market. according to CoinGeckoThe token has increased by 14% since last week. This trend may continue as major cryptocurrencies such as Bitcoin and Ethereum are also pulling altcoins upwards.
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With favorable market conditions, TRX has a chance to do something great this week. This possibility is supported by a recent tweet from Mobileum, which focused on Tron’s strong network as it supported transactions around the world.
Tron users contribute massively on Mobileum
Crypto banking platform Mobileum released some statistics on Tron users using the platform for real-world transactions. According to Ex Post, Tron users contributed extensively to This is an important step for Mobilum’s global operations.
Global reach, local ease @trondao
In August 2024, #tron Users transacted in the Mobilum ecosystem around the world:
• Asia: 39%
• North America: 25.5%
• Europe: 20.5%
• South America: 5%
• Africa: 5%
• Australia: 5%Proud to be empowering seamless crypto payments across the… pic.twitter.com/IpyiScqmks
— Mobilum (@mobilumofficial) August 19, 2024
The biggest figure came from Asia, where more than 39% of the transactions were caused by Tron users, followed by the United States and Europe. This is a big turning point for Tron, as it is finding itself in real-world use cases.
Tron hits new yearly transaction high
Tron’s network also continues to show its strength as it enters the block Recently Posted How it handled around 8 million transactions per day, up from an average of 7 million transactions per day. This high throughput on the platform helped the growth of TRX in the long term.
With over 7 million daily transactions, #tron The network is becoming an important part of everyday life for millions of people around the world.
— Tron Dao (@trondao) August 19, 2024
The platform’s focus on stablecoins is one of the factors contributing to its growth. At the time of writing, four stablecoins are used on Tron, namely USDT, USDJ, TUSD, and USDC.
The roof was hit, but not broken, by the TRX
The token’s current trajectory may be upward, but it seems like the next few days could be tough for investors and traders. At its best, TRX could possibly return to more sustainable levels with a rebound soon after.
At the time of writing, breaking the current range of $0.1472 is a huge hurdle for TRX bulls in the short term. However, after some time, we may see the token gaining enough momentum to break through this level. TRX price has rebounded significantly after nearly two days of bullish momentum that boosted gains in investors’ portfolios.
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With the Relative Strength Index (RSI) being at its peak, it signals a possible decrease in momentum in the coming days, pulling the token back to $0.14. If this happens, $0.14 will make way for the bears, pulling the token to $0.13.
However, the token’s lowest price is $0.13. TRX’s low correlation with Bitcoin will gradually increase over the days, helping TRX regain lost ground once the bullrun friction is over. For now, holding the token may be the best decision for investors and traders as they continue to monitor the broader market for price fluctuations.
Featured image from Mudrex, chart from TradingView
