TRON [TRX] registers meager 0.6% Gain in Last 7 Days Despite Bullish Market

• TRON (TRX) increased in price by only 0.6% in the last seven days and had a market capitalization of more than $5 billion.
• Recently, TRON total transactions exceeded 4.6 billion and the number of accounts crossed 134 million.
• There were some signs of recovery due to multiple developments, with the price increasing by 5% in the last 24 hours.

The crypto market was in a bullish phase last week as several cryptos flourished, registering massive gains. However, there was one exception – TRON [TRX]. Despite being surrounded by positive news and developments, TRX only managed to increase its price by a meager 0.6% in the last seven days. At the time of writing, TRX was trading at $0.05533 with a market capitalization of more than $5 billion.

But despite the lack of price action, TRON did reach a number of milestones recently. For instance, the network total exceeded 4.6 billion, and the number of accounts crossed 134 million. These numbers reflect the success of the project and could act in favor of the network.

Unfortunately, TRON’s development activity followed a sideways path over the past week, which was a red flag. Negative sentiments regarding TRX also spiked twice during the same period, which indicated less faith from the community. The token also couldn’t garner interest from the futures market, as its Binance funding rate registered a sharp decline.

Fortunately, even though the past week’s performance was not up to par, TRX showed signs of recovery. At the time of writing, TRX’s price had increased by 5% in the last 24 hours. Moreover, the network witnessed multiple developments in the last few days, which may have the potential to fuel a bull rally. TRON recently published its weekly report on Twitter, which mentioned the launch of several new products. These include the decentralized exchange TRXMarket, the stablecoin USDT-TRON, and the new TRON-USDT trading pair. The report also noted the launch of a new feature that allows users to stake their TRX and earn rewards.

All in all, the data indicates that TRON is still in a good position to rally, and the recent developments could be the catalyst for a bull run. It will be interesting to see how the market reacts to these developments and whether TRX will be able to break its current resistance levels.

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