Positive news continues to emerge in the cryptocurrency market. As of the time of writing, the price of Bitcoin has surpassed the $61,000 level for the first time since 2021, while TRON (TRX), which has been frequently mentioned in recent days, appears to have matched its own record in terms of the number of addresses held.
Cardano and Avalanche’s Struggle Against TRON
According to blockchain data shared in a February 28 post by the globally renowned DeFi market platform IntoTheBlock, the number of wallet addresses holding one or more TRON has reached 95.83 million, marking an all-time high (ATH) for the network.
In comparison to TRON’s success, it is observed that layer-1 networks including Cardano (ADA) and Avalanche (AVAX) have fewer than 10 million addresses, and the analysis platform’s team emphasized that TRON’s steady growth in addresses is driven by the growth encouraged by TRON DAO.
Indeed, the latest information reveals that the number of wallet addresses holding Cardano is 4.46 million, while as of February 12, 2024, the Avalanche ecosystem marked 6.96 million addresses, highlighting that these figures are significantly lower compared to TRON’s total of over 11.4 million addresses.
What is TRON’s Price Now?
Amidst these developments, TRON’s native token TRX was trading at $0.1437 at the time of writing. This price level represents a 1.42% increase over the past 24 hours.
TRX has gained 3.28% over the last seven days and has experienced a more significant growth of 27.48% on a monthly review. On an annual review, the price has seen an increase of 106.72%.
One interesting aspect of this rise is that it occurred after Circle removed support for USD Coin (USDC) on the TRON platform as part of its “risk management framework.” Another significant development in recent days was an announcement related to Bitcoin Layer-2 solutions.
Considering all these factors, TRON is still some distance away from reaching its January 2018 ATH of $0.23, but it is steadily approaching the levels seen in April 2021, hosting consistent growth both in its community and in price.
