- Tron’s active addresses and transactions increased last month.
- TRX fell under critical support, hinting at a continued price drop.
Tron [TRX] has witnessed a considerable surge in network activity in October. This clearly reflected a rise in the blockchain’s adoption. However, TRX couldn’t sustain this growing momentum as the scenario changed in November.
Tron’s October success
Lookonchain recently posted a tweet revealing Tron’s achievement of the first month of Q4. As per the tweet, the total number of transactions on the blockchain reached 238.6 million in October, rising 8.15% from the previous month.
Additionally, the number of transactions on Tron also reached a one-year high of 10.46 million on the 24th of October.
Since these numbers looked promising, AMBCrypto checked Artemis’ data to find out more about the blockchain’s network activity in October.
As per our analysis, like transactions, Tron’s daily active addresses also remained high throughout October, reflecting consistent usage of the blockchain.
Apart from all these, the blockchain’s performance on the captured value front was also promising. This was the case as both TRX’s fees and revenue increased last month.
However, the only sector where TRX underperformed was DeFi, as its TVL fell sharply.
Source: Artemis
Though most of the network activity metrics increased in October, Tron’s couldn’t sustain that trend in November. For instance, since the beginning of November, TRX’s active addresses dropped sharply from 2 million to 1.7 mi
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Author: Dipayan Mitra
