Throne [TRX]: Rising deflation, rising transactions, other key highlights

  • TRX has experienced deflation for 70 consecutive weeks.
  • The total number of transactions on the network exceeded five billion.

THRONE [TRX] shared a report on the remarkable network developments that have taken place over the past week. One highlight was the significant increase in deflationary pressures exerted on the local currency.

According to TRON, TRX experienced deflation for 70 consecutive weeks starting from October 28, 2021 to March 2, 2023. During that time, the circulating supply fell by 10.57 billion. Tronscan data confirmed this claim.

Source: Tronscan

How many 1 10 100 TRX is it worth today?

Tron is reaching a pivotal moment in transactions

The other main topic of conversation was Justin Sun’s views on the regulation of crypto markets around the world. In an interview with CNBC. Tron’s founder emphasized the need for a unified blockchain standard for global payments and settlements.

The other big development was Tron’s integration with Uphold, a multi-asset crypto trading platform. The tying was expected to allow TRX holders to take care of their assets themselves and have more control over them.

At the same time, TRON got another reason to rejoice, as the total number of transactions on the network exceeded five billion.

Strong growth in NFT trading

The increase in the number of transactions can be attributed to increased activity on the NFT front. According to Santiment, total NFT trading volume reached $730.5K, a more than six-fold increase from the previous week.

On the other hand, development activity fell sharply in the past week. This could raise doubts among investors about upcoming upgrades.

Source: Santiment

On the other hand, the total locked value (TVL) of Tron’s smart contracts fell below $5 billion, registering a decline of more than 6% in the past seven days, data from DeFiLlama revealed.

The gains made in TVL since mid-February have been reversed at the time of writing.

Source: DeFiLlama

Read it on TRON [TRX] Price forecast 2023-24

At press time, TRX was exchanging hands at $0.06691, down slightly from the previous day, according to CoinMarketCap. It recorded gains of around 4% during the month.

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