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Nearly 120 million accounts are currently registered on TRON

The native cryptocurrency of the same-named blockchain network, TRON, is still having difficulty as it is unable to overcome its bearish momentum.

The sixteenth-largest cryptocurrency by market capitalization, as tracked by Coingecko, is currently trading at $0.050 as of the time of this writing.

The altcoin’s value has decreased by roughly 10% over the last week and by 20.2% over the past two weeks.

The digital asset has lost 17.8% of its spot trade price on a month-to-date basis, completely reddening its chart.

The protocol was able to record great results last week, so even though TRON hasn’t been able to start a bullish run to recapture higher trading session prices, its network is still operating quite well.

Positive TRON Network Activity Despite FTX Crisis

Some of the highlights of the protocol’s performance from November 7 to November 13 were highlighted by TRON DAO, the blockchain network’s official Twitter account.

The total number of accounts connected to the blockchain at the end of the given time period was 119,949,499, and the total number of transactions made possible by it totaled 4.19 billion.

The Total Value Locked (TVL) of TRON reached a high of $12.3 billion and its blockchain height exceeded 45.83 million.

It is crucial to remember that this remarkable increase in network activity and value occurred the same week that the crypto space was severely damaged by the fallout from the failure of the FTX crypto exchange platform.

 

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