15.08.2022
Chicago 12, Melborne City, USA
Business

Tron Community Celebrates Fourth Anniversary and 100 Million-User Milestone In Grand Style

Tron (TRX) DAO and its community celebrated the blockchain’s fourth anniversary this week, a significant milestone for the project. The community also celebrated crossing the 100 million-user threshold in grand style.

This foray into the 100 million-user club comes weeks after Tron launched its algorithmic stablecoin USDD. The network remains aggressive in its goal to expand its scope and plans on maintaining the trajectory by identifying more opportunities across the crypto space. The blockchain network recently revealed plans to enter the metaverse sector after realizing growth potential in the space.

Tron DAO advisor Perello Laurent made some comments on metaverse exploration opportunities in the metaverse at the recently concluded European Blockchain Convention.

Tron’s latest milestone achievements come despite massive headwinds in the crypto industry and broader financial market amid recession fears. However, this does not mean that TRX has not suffered any backlash in the ongoing crypto winter. At press time, the cryptocurrency trades at $0.0650 after collapsing by 23% in June alone. Compared to other cryptocurrencies, TRX recorded a solid performance in June, despite the 23% drawdown.

While Tron’s massive user growth did not reflect on its native cryptocurrency’s price, many analysts believe that it could come into play when the crypto market enters another major bullish cycle.

Key Tron Levels to Watch — July 1

TRX began July on a sideways pattern as the price clings to the $0.0650 mark. The immediate top for the cryptocurrency to beat is the 4-hour 100 EMA at $0.0660. Regardless, the thirteenth-largest cryptocurrency maintains a steady upward momentum, suggesting we could see a price push beyond the EMA in the coming days.

TRXUSD – 4-Hour Chart on Binance. Source: TradingView.

While the broader market is on a downward spiral, TRX has refused to follow the general trajectory, choosing instead to maintain a sideways pattern. That said, when the bullish cycle begins in the coming months, TRX will undoubtedly be at the forefront of the charge.

Meanwhile, my resistance levels are $0.0680, $0.0700, and $0.0720, and my support levels are $0.0620, $0.0600, and $0.0560.

Total Market Capitalization: $875.4 billion

Tron Market Capitalization: $6.05 billion

Tron Dominance: 0.69%

Market Rank: #13

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