Tron (TRX): What Q3 Performance Say about Q4 Price Trends

Altcoins Cryptocurrency DeFi News Stablecoin

The latest rally in the crypto space saw Tron exploring 5-day peaks of $0.06382 as of November 5 (Coinmarketcap data). The alternative token ranked 15th by market cap. Moreover, TRX lost 1.5% over the previous day to its press time value of $0.06351.

Evaluating the asset’s daily chart showed Tron buyers dominated the market on November 5. Moreover, the DMI’S (Directional Movement Index) position supported such narratives. The DMI presented buyers’ strength at 27.78, solidly beyond sellers’ at 13.94.

The EMA (Exponential Moving Average) also confirmed this. While writing these lines, the 20 Exponential Moving Average swayed beyond the 50EMA, showing buyers dominated sellers in market control.

Moreover, crucial indicators like the MFI (Money Flow Index) and the RSI (Relative Strength Index) stayed beyond their respective neutral territories in upside trends. November 5 sessions saw TRX’s Relative Strength Index reading 57, whereas the Money Flow Index hovered at 57. That confirmed a stable increase in the alt’s buying momentum.

TRX in the 3rd Q

Messari, a crypto research network, unveiled its Tron Network performance analysis in Q3. It discovered that the network usage stayed stable, whereas its quarterly revenue in the 3-month phase declined.

Though Tron saw the newly formed account metric plummeting by 21.7% within the previous quarter, Messari noted that 24hr active accounts remained stable.

Moreover, this metric saw a 0.3% increase in the same timeframe. Comparing network usage in Q3 and Q2, Messari stated that total account activity averaged 2.6 million per day. Meanwhile, the Q3 2.6 million daily average didn’t relate to a usage burst or an uptrend.

The third quarter presented a somewhat regular daily activity. Messari added that the Q2 outlook emerged amidst growth following the May burst, aster Tron’s USDD ‘over collateralized’ stablecoin.

Messari revealed a 21% decline during the quarter on the revenue front. Tron’s total quarterly revenue in the timeframe under review stood at $38 million. The 2nd quarter had this metric at $48 million. What triggered the revenue drop?

Messari stated that the 33% slump in the network’s average transaction fees contributed to Tron’s revenue plunge. Though most layer1 platforms noted a DeFi TVL drop, Messari revealed that Tron escaped the adverse market situation, growing its TVL (total value locked) by 61% quarter-on-quarter.

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