The Tron (TRX) network ranks first in terms of handling the highest number of transactions per second. This milestone was observed by Tron community member @TronixTrx who went on to explain that Tron is currently handling more transactions per second than Bitcoin
, Ethereum, Cardano and XRP.@TronixTrx shared his analysis via the following tweet, with a chart from Coinmetrics to further demonstrate how Tron leads the rest in transactions per second.
A quick glance at the same data from Coinmetrics reveals that Tron overtook XRP in January, in terms of transactions per second. This fact has been highlighted by the following chart courtesy of the tracking website.
In terms of network growth, unique addresses on the Tron network have just exceeded 40 million. The project’s founder and CEO, Justin Sun, shared this new milestone via Twitter and thanked the Tron community for its support over the years.
With respect to price action, Tron is currently trading at $0.0715 with the 200-day moving average offering solid support at the $0.067 price area.
However, Tron is currently staring at a death cross that could occur in the first few weeks of July. The possibility of such an event occurring has been highlighted in the following daily TRX/USDT chart.
Also from the chart, it can be observed that Tron’s trade volume has been reducing since the massive crypto-wide selloff of last month. Furthermore, the daily MACD is indicating additional weakness by Tron (TRX) that could lead to the ultimate loss of the 200-day moving average as support. The daily MFI and RSI also confirm the stated weakness.
Therefore, and despite the impressive on-chain metrics on the Tron blockchain, the digital asset of TRX could be headed for a tough few weeks in the crypto markets. Consequently, caution is advised when longing Tron (TRX) moving forward.