Tron Achieves Multi-Year Record: What’s Next for TRX Price Growth?

• Tron (TRX) hits a multi-year high of $0.1914, driven by strong trading volume and market interest following Bitcoin’s price surge.
• Tron continues to grow as a key player in Web3, with over 271 million accounts, 50 million weekly transactions, and increasing adoption across its blockchain ecosystem.

Tron (TRX) has hit a major milestone by closing above $0.17 for the first time since 2021, drawing renewed attention to this altcoin. Recently valued around $15.2 billion, TRX’s trading volume has seen a sharp rise, jumping to roughly $1.7 billion in a single day.

This increase followed Bitcoin’s record-breaking price and has led Tron to a multi-year peak of $0.1914, currently settling near $0.176 as interest continues. Previously, a CNF update highlighted the prediction of Tron’s price when TRX was set to soar as Bitcoin news shook the market.

According to CoinMarketCap, TRON is trading at $0.1796, having surged by 1.53% in the past day and 10.84% in the past week. See TRON price chart below.

Steady Growth in Tron’s Web3 and Blockchain Utility

As supported by the community, as tweeted in a recent post by the TRON community, TRON just burned 11,821,380 #TRX on November 13th, showcasing a commitment to deflation and value growth, with a net negative production ratio of -6,753,989.

#TRON just burned 11,821,380 #TRX on November 13th showcasing a commitment to deflation & value growth With a net negative production ratio of -6,753,989 pic.twitter.com/HFjqW7DMyk

— TRON Community (@TronixTrx) November 14, 2024

On-chain data shows Tron processing over 50 million transactions weekly, and its total transaction count has reached 8.9 billion. With a user base of over 271 million accounts, Tron’s utility and adoption continue to rise.

With the broader adoption of blockchain technology, Tron is becoming a central player in the Web3 space. The platform’s total value locked (TVL) now stands at $7.26 billion, and its stablecoin market cap hovers near $60 billion.

Tron Network on the High Track

Recently, Tron saw over 2.4 million active addresses within a 24-hour period and generated $9.13 million in revenue, largely from staking activity. A key driver of Tron’s recent growth has been the rise of meme coins, like Sundog (SUNDOG), which have gained popularity on the platform.

These coins, with a combined market cap of $281 million, have spurred daily trading volume, contributing to increased network engagement.