Tron [TRX] has a lot to its credit. The token, after suddenly being in the news for the last couple of weeks, has not managed to mark its presence by making some other significant moves in the ongoing bear market.
While every other top 20 cryptocurrency holders are suffering losses, Tron holders are enjoying profits at the moment.
Tron takes over the market
According to the year-to-date changes in the price action of crypto assets, Tron is the only cryptocurrency of the top 15 tokens that has some profit to its name at the moment. TRX’s price has grown by 4.59% since June 2021, while no other asset in the list has witnessed such notable growth.
Bitcoin [BTC] is down by 37.75%, whereas Ethereum [ETH] is in losses touching 53%. Even Solana [SOL], which was the highlight of 2021, is down by almost 80%.
However, the years 2022 is turning out to be quite different for TRON, as the token even kicked Shiba Inu out of the top 15 assets list. The token surpassed the meme coin in terms of market cap by a significant margin, and the current value of all TRX is over $7.4 billion.
But even so, TRX is struggling to reach the $0.10 range, which it last touched in November 2021. Despite the token witnessing almost 60% growth in the last two months, TRX failed to achieve the 10 cents range and slipped to $0.07 at the time of writing.
Regardless of its performance, the asset has the support of its investors, who have not only been present but also actively participated on the network, thus pushing the token’s growth.
With over 1.6 million users active on the chain regularly, Tron is conducting over 5.1 million transactions in a day. This incline in transactions only began towards the beginning of October 2021, when the network was processing close to two million transactions.
Furthermore, most of this activity only occurred over the last month. But this sudden growth has also left investors vulnerable to price swings which is evident by the high volatility of Tron.
Since April 2022, the monthly average volatility has also noted a significant rise, which going forward will make it highly difficult for TRX to reach $0.1.
Regardless, investors are happy even today since it is offering much better returns than any of its competitors.
Read More:How did Tron [TRX] manage to outdo BTC, ETH & SHIB in profitability since June 2021