TRON’s weekly report highlighted several promising developments
Some stats supported a price increase, while RSI and other market indicators suggested otherwise

TRON [TRX] published its weekly report on December 10, detailing all developments related to the ecosystem over the past seven days.

Read TRONs [TRX] Price prediction 2023-2024

The most notable developments included the formal adoption of the 79th Committee’s proposal. The main content of the commission proposal was to change the network parameters No. 11 and No. 47. The aim was also to increase the unit price of energy from 280 sun to 420 sun.

With the latest version, 4.4.3, ONTO Wallet has added support for trading assets on the TRON network. In addition, Tether announced the launch of a new stablecoin called CNHT on the TRON blockchain.

Speaking of recent achievements, so does TRON refilled the list of blockchains in terms of chain activity.

Is everything in favor of TRON?

Justin Sun, the founder of TRON, recently expressed his opinion on the burn rate of TRON. This update looked promising for the blockchain as it reflected its deflationary characteristics.

He named,

“We will see 5 to 10 billion TRX burned annually because of all the use cases on TRON Network.”

This was good news as it would help the token increase its value in the long run. As of December 10, more than 22.8 million coins had been burned, with a net production ratio of less than zero -17,752,668.

These aforementioned developments also had a positive impact on TRON’s stats over the past week. For example, TRXThe company’s volume has remained steady over the past seven days, which has been a positive sign.

TRX’s development activity also increased, due to the increased efforts of the developers. The Binance funding rate revealed that TRX gained interest from the derivatives market as the chart moved up.

Source: Sentiment

In addition to these developments, TRX’s price action also favored investors as it recorded weekly gains of 2%. At the time of writing, TRX was trade at $0.05462, with a market cap of over $5 billion.

However, before you go crazy with the positive stats and TRX price action, it is important to consider the market indicators.

The bears are here

Take a look at TRXThe daily chart painted a bearish picture as most market indicators suggested a bearish edge. For example, TRX’s Relative Strength Index (RSI) registered a slight drop and stood at the neutral mark. This was a strong negative signal.

TRON’s Chaikin Money Flow (CMF) and Money Flow Index (MFI) also plummeted, which could spell trouble in the coming days.

Source: TradingView





This post TRON investors can expect this from TRX during the last weeks of 2022

was published first on https://ambcrypto.com/tron-investors-can-expect-this-from-trx-during-the-closing-weeks-of-2022/

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