Tron (TRX) price sees 14% surge over past month as daily transaction numbers hit 7 million mark
Tron (TRX) has seen a 14% price increase over the past month, reaching a multi-month high of $0.12 per token. This price surge is supported by a spike in buying activity, as evidenced by the token's Relative Strength Index (RSI) reaching overbought levels at 74.13.
The Tron network has also seen a 6% increase in its daily average transactions, which now stand at 6.84 million per day. This growth in network activity indicates rising adoption and usage of the Tron platform.
In addition to the price increase and transaction volume growth, Tron's native token TRX has also seen a rise in its futures open interest, which has increased by 39% over the past month to reach $84.07 million. This suggests increased trader participation and confidence in the current price trend.
Overall, the combination of Tron's rising price, transaction volumes, and derivatives activity points to strengthening fundamentals for the project and growing interest from both retail and institutional investors.