Tron Network Sees Record-Breaking Daily Transaction Count

Azeez Mustapha
30 July 2021 | Updated: 30 July 2021

Tron Foundation, the host organization behind the Tron (TRX) blockchain, has recorded an unparalleled spike in user interest. According to an official report via Twitter, the organization revealed that the net daily transaction count on the Tron network touched a new all-time high on Wednesday.

The transaction counting tool monitors all sent and received transactions in all active TRX accounts. The Tron network recorded a total of 9,298,611 transactions on July 28. The network recorded its previous high of 9,278,050 transactions on July 6. The tweet from the official TRX handle noted that:

“The number of daily transactions on #TRON reached 9,298,611 on July 28, setting a new record high!!!

#TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.”

Reports show that this hawkish development got triggered by two factors. Firstly, the recent spike in interest in GameFi protocols played a crucial role in TRX’s network activity jump.

GameFi protocols, in a way, merge the benefits of decentralized gaming, DeFi protocols, and NFTs. Tron emerged as the most preferred platform for decentralized games, gambling profits, and high-risk schemes.

The second catalyst is the recent bullish recovery across the crypto market. Net market valuation has recorded double-digit gains for the past few days.

Key Tron Levels to Watch — July 30

TRX is on an overt bullish momentum as the crypto market regains bullish traction. That said, the twenty-fifth-largest cryptocurrency suffered a sharp drop from the $0.0640 resistance on Monday to the $0.0566 support.

TRXUSD – 4-Hour Chart

TRX is now on a rebound to retest the $0.0640 resistance as buyers pile on. Failure to clear the $0.0640 level over the coming hours or days could send the cryptocurrency below the $0.0600 support, followed by another rebound.

Meanwhile, our resistance levels are $0.0640, $0.0650, and $0.0700, and our support levels are $0.0600, $0.0566, and $0.0500.

Total Market Capitalization: $1.54 trillion

Tron Market Capitalization: $4.32 billion

Tron Dominance: 0.28%

Market Rank: #26

 

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Azeez Mustapha

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.