Crypto News

Tron’s Social Interest Surpasses Ethereum, Positive Sentiment Boosts TRX Price

Published by
Nonhlanhla P Dube
  • Tron’s social interest has outpaced Ethereum’s according to data from Google Trends, with a large interest in Tron’s keywords.
  • Whale behavior could be a driving force behind Tron’s positive price movements, with increased attention from large addresses coinciding with a surge in price.
  • Tron’s development activity has experienced a significant decline, with a 50% drop in the number of active developers on its network in the last 30 days, potentially limiting its ability to keep up with competitors. The daily activity on the Tron network has also decreased by 12.0% during the same period, raising concerns about a slowdown in adoption and usage.

Tron (TRX) has outperformed Ethereum (ETH) in terms of social interest, according to Google Trends data. The keywords TRC20 and ERC20 were compared, and it was observed that there was a greater interest in Tron’s keywords. Additionally, the weighted sentiment for Tron improved, indicating that the crypto community has a positive outlook toward TRX.

This could be attributed to increased interest from large addresses or whales, which has coincided with a surge in TRX’s price. However, a high concentration of whales holding TRX could lead to the centralization of the network and may expose retail investors to future price fluctuations. Although TRX’s price volatility has declined recently, the drop in its volume over the past few weeks could suggest a threat of a price correction in the future.

Furthermore, data from Token Terminal suggested that the Tron protocol has experienced a significant decline in development activity, with a 50% drop in the number of active developers on its network in the last 30 days. This could signal a lack of future updates or upgrades to the protocol, potentially limiting its ability to keep up with competitors. Additionally, daily activity on the Tron network also decreased by 12.0% during the same period, which may indicate a slowdown in the network’s adoption and usage.

Overall, while Tron has outperformed Ethereum in terms of social interest and positive sentiment, the decline in its development activity and d

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

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Published by
Nonhlanhla P Dube
Tags: EthereumTron

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