Tron Hits Key Price Levels as Revenue and Adoption Soar: What’s Next?

Samuel Edyme

5 months ago

3 mins read

Tron Hits Key Price Levels as Revenue and Adoption Soar: What’s Next?

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Despite broader bearish trends in the cryptocurrency market, Tron (TRX) has demonstrated resilience with notable growth in key metrics.

Recent analysis from CryptoQuant contributors sheds light on Tron’s expanding ecosystem and revenue surge, presenting a compelling case for its role in blockchain technology’s ongoing evolution.

One major highlight is the substantial increase in Tron’s daily on-chain revenue. According to the data shared by the analyst, Crazzyblockk, this rise has been driven by the network’s enhanced gas fee revenue and higher transaction volumes.

Additionally, Tron’s price movement appears to be now becoming interesting as it approaches critical support and resistance levels, which could dictate its near-term trajectory.

Daily Revenue Growth Reflects Network Utility

Tron’s daily on-chain revenue has grown by 119% since January 1, 2024, a metric closely tied to rising gas usage and increased transaction activity on its blockchain, according to CryptoQuant analyst Crazzyblockk.

Tron’s on-chain revenue. | Source: CryptoQuant

This surge as disclosed by the analyst highlights Tron’s scalability in “processing high transaction volumes” while maintaining “cost efficiency.” The revenue growth also highlights the network’s expanding adoption within the decentralized finance (DeFi) and smart contract ecosystems.

The network’s ability to generate substantial gas fee revenue serves as a benchmark for blockchain performance, with Tron’s figures signaling growing user engagement and utility. The analyst wrote:

The year-to-date revenue expansion signals increasing user demand and network utility, further solidifying Tron’s position as a leading blockchain for high-speed, low-cost operations.

Crazzyblockk also suggests that this trend reflects the network’s economic viability and its strengthening position among blockchains optimized for high-speed and low-cost operations.

Additionally, this development is especially significant as blockchain networks compete to attract developers and investors with notable decentralized applications. The analyst concluded by noting:

With this explosive momentum in daily revenue, Tron is setting a new standard for blockchain economic models. Investors, developers, and users alike should keep a close watch as this trend continues to reshape decentralized finance and smart contract adoption.

Tron Approaches Key Level

Meanwhile, from a technical perspective, Tron has reached a critical level near its 1-Year Moving Average (MA) plus two standard deviations, at approximately $0.25.

Tron (TRX) price chart on TradingView — TRX price is moving downwards on the 2-hour chart. Source: TRX/USDT on TradingView.com

Darkfost another CryptoQuant analyst warned that failing to hold this level could result in a decline to its 1-Year MA support of around $0.15. However, the analyst highlighted Tron’s ecosystem growth offers optimism for long-term investors.

The network has seen notable activity, including a sharp increase in the USDT volume on its blockchain, which rose from $8 billion in early 2023 to $27 billion by late 2024.

Tron USDT colume on centralized exchanges. — Tron USDT volume on centralized exchanges. | Source: CryptoQuant

This growth points to strong adoption and an influx of capital into the Tron network. Additionally, metrics like the Moving Average Convergence Divergence (MACD) indicate that TRX was recently oversold, a condition that in the past has often preceded bullish momentum.

Featured image created with DALL-E, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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