Tron’s DEX Volume Soars by 174% – What’s Causing TRX Prices to Stall?

Tron recently experienced significant growth, with a remarkable 174% increase in decentralized exchange (DEX) volume, reaching $3.04 billion. Active addresses on the network also grew, hitting 87.7 million, and the total number of transactions surpassed 304 million. Despite these impressive statistics, the price of TRX remains relatively stagnant. A recent integration with Halliday has improved user onboarding, yet the question lingers: can this increase in activity lead to a rise in TRX’s price?

Key Takeaways

Tron witnessed substantial growth, with DEX volume climbing 174% to $3.04 billion.
The number of active addresses rose to 87.7 million, and monthly transactions exceeded 304 million.
The Halliday integration has significantly sped up the onboarding process to under 60 seconds.
Despite heightened activity and engagement, TRX prices remain stagnant, prompting speculation about future price movements.

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Tron’s Performance in October

October marked a pivotal month for Tron, evident in its core activity metrics.

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The DEX volume skyrocketed to $3.04 billion, reflecting a 174% month-over-month increase. Additionally, the volume of perpetual contracts rose to $2.44 billion, marking a 3.47% monthly uptick. The network's usage also surged, with active addresses reaching 87.72 million (up 13.42% month-over-month) and total monthly transactions hitting 304.34 million (up 9.09% month-over-month). These figures indicate robust engagement across various metrics, showcasing stronger participation rather than mere speculative trading.

Key Developments

Recent advancements, particularly with Halliday's integration, are driving the network's growth. This new system simplifies the onboarding process for users. As noted in the press release, the routing mechanism cuts down the traditionally lengthy process of acquiring tokens—from potentially 30 minutes across multiple platforms—to approximately one minute.

This enhancement could lower barriers for those unfamiliar with the crypto space, making Tron-based assets more accessible. Halliday's CEO, Griffin Dunaif, commented, “Crypto payments should match Web2’s speed, refinement, and simplicity. We are excited to bring such an experience to the TRON ecosystem."

Moreover, it's worth noting that Tron is also involved in the T3 Financial Crime Unit's first-year milestones, having frozen $300 million worth of illicit crypto assets across 23 jurisdictions in partnership with Tether (USDT) and TRM Labs.

TRX Needs a Stronger Push

Despite the positive developments, TRX’s daily performance remains lackluster.

Tron Network

As of the latest data, TRX traded near the $0.29 mark, showing no significant attempts to break out. The Relative Strength Index (RSI) is nearing oversold territory but lacks a strong upward reversal. The On-Balance Volume (OBV) indicator has also been declining, suggesting that buying volume has not yet supported potential price increases. Despite the heightened activity within the ecosystem, the price of TRX has not responded accordingly.

For any short-term recovery to take place, TRX will require stronger support from buyers and a clear breakthrough above its recent lower highs. Until such developments occur, the current trend appears more focused on stabilization rather than growth.