• TRON’s daily transaction volume grew by 6 million since 2021, highlighting the platform’s rising popularity.
• With a 96% success rate, platform’s reliability sets it apart as a trusted blockchain for high transaction volumes.
• Coinglass data shows TRON’s robust support at $0.26–$0.27, signaling investor confidence despite market shifts.

The daily transaction volume TRON has significantly increased. The number of transactions has increased by 6 million since 2021, reaching more than 9 million. Such growth signifies more activity and interest in building the blockchain infrastructure of the platform. TRON is increasingly becoming a major player in the blockchain ecosystem, as it continues to scale.

Source: X

The rate of successful transactions is also a crucial pointer. The success rate of platform transactions has steadily increased to over 96%. Such a high rate demonstrates the platform’s reliability and its ability to handle large quantities without frequent failures.

TRON’s Consistent Growth and Unmatched Efficiency

Besides successful transactions, the production of the blocks has also been stable on the platform. The production of blocks has been increasing linearly daily. This showcases the stability of operations and the network’s capacity to scale accordingly in response to demand. The platform infrastructure is designed to support increasing activity without compromising performance.

Source: X

TRON activity is not affected by the increased transaction fees in the global market. The demands of users remain block space and high throughput. This suggests that users perceive the platform as a good deal in terms of cost, despite the price increase. The platform’s efficiency enables it to remain competitive in the market despite rising costs.

Key Support Levels and Bearish Market Trends

Glassnode data suggested that platform had significant support levels at prices between 0.26 and 0.27. The total amount of TRX tokens held at these levels exceeds 14 billion, which is the strongest support area. 

When supply at a higher level becomes low, there might be an upward pressure on the price if there is more demand. This amount of support is an indication of robust investor confidence in TRONs future.

Source: X

However, a rise in the bearish sentiment in the derivatives market. The open interest has declined by 11.14% to 317.27 million. This is occurred by long liquidations, which amounted to 720.09K within 24 hours. Short liquidations, on the other hand, were only 19.45 K.

Additionally, the open interest-weighted funding rate of the platform is currently in a negative position, at -0.0116%. This implies more pressure from traders who had bet on falling prices. With bearish sentiments emerging in the derivatives market, on-chain metrics for the platform are once again proving to be strong and growing.

Source: Coinglass

The platform has retained its strong on-chain performance. Although certain bearish tendencies exist in the derivatives market, the success of transactions on the platform, the level of the block production ,and support are high. The scalability and reliability of TRON allow it to remain one of the major actors in the blockchain market.

Read More: Crypto Market Faces Sharp Decline Amid Global Uncertainties