Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Comment on XRP ETF Race Heats Up As SEC Reviews Filings by BONK Memecoin Pumps Over 16% amid ETF-Driven Interest

    July 3, 2025

    whales prepare for the big shift

    April 3, 2024

    Ripple drops cross-appeal as SEC set to follow, closing XRP case

    June 28, 2025
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Will Pi crash or rally in 2025?

      July 11, 2025

      July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

      July 10, 2025

      UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

      July 8, 2025

      Digital trade tensions take center stage between the U.S. and South Korea

      July 7, 2025

      Traders Gear Up: FOMC Prep Signals Bitcoin, Altcoin Buying Frenzy

      July 6, 2025
    • Technology

      SUI Price Targets Breakout as Macro Triangle Pattern Tightens and TVL Tops $2B

      July 11, 2025

      Coinbase partners with Perplexity to unlock real-time crypto data for traders

      July 10, 2025

      Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

      July 9, 2025

      CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

      July 8, 2025

      Dogecoin price double bottoms as whale accumulation continues

      July 7, 2025
    • Learn/Guide

      Best Crypto PR Agencies of 2025

      July 11, 2025

      Coinbase, Perplexity AI join forces to enhance crypto data access for traders

      July 10, 2025

      Top perps DEX GMX hacked for over $40m, $GMX token plunges

      July 9, 2025

      Cardano Foundation unveils blockchain-based tool to simplify audit compliance and enhance financial reporting

      July 8, 2025

      Plume Network brings real-world yield to TRON’s global payment ecosystem via SkyLink integration

      July 7, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » As Tron witnesses a spike in burning activity, will it fuel TRX prices? Assessing…
    Technology

    As Tron witnesses a spike in burning activity, will it fuel TRX prices? Assessing…

    May 18, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    As Tron witnesses a spike in burning activity, will it fuel TRX prices? Assessing...
    Share
    Facebook Twitter LinkedIn Pinterest Email



    • TRX’s circulating supply was 90.4 billion, registering a fall of more than 7{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} on a YoY basis.
    • Indicators suggested that market sentiment for TRX was weak.

    With the intention of long-term market value growth, TRON [TRX] has taken deliberate measures to apply deflationary pressure on its native token TRX.


    Read TRON’s [TRX] Price Prediction 2023-24


    The network removed more than 20 million TRX tokens out of circulation on 16 May, marking the largest increase in burn rate in a month. Data from Tronscan showed that the burn rate increased significantly in 2023.

    As the number of new tokens minted on the network remained largely constant, the net issuance rate, or the inflation rate fell further to -15.43 million, extending TRX’s deflationary streak.

    Source: Tronscan

    The ‘burn’ is real!

    Notably, TRX was in deflation for 249 straight days, as per data provided by Tronscan. With the spike in burn activity, TRX’s circulating supply contracted considerably in 2023.

    At the time of writing, about 90.4 billion tokens were in public hands, registering a fall of more than 7{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} on a year-over-over (YoY) basis.

    For the period from 29 December 2019 until press time, the annualized inflation rate for TRX was -2.89{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8}.

    Source: Tronscan

    Tron maintains dominance

    Tron continued to outperform other major blockchain projects in terms of network activity.

    As per data analytics platform Artemis, the daily active addresses on the Tron network hit 1.88 million on 16 May, eclipsing second-ranked BNB Chain and establishing a massive lead over chains like Ethereum [ETH] and Solana [SOL].

    Moreover, the number of transactions executed on the network shot up over the past week. On 16 May, more than 9 million transactions were recorded on Tron, second only to top-ranked Solana.

    Source: Artemis

    TRX fails to impress

    The impressive feat on the network traffic front started to pull TRX out of its predicament. At press time, TRX was valued at $0.07114, recording a marginal increase of 0.44{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in the 24-hour period, as per CoinMarketCap.

    TRX was under intense selling pressure in the last month, which resulted in value shedding of more than 13{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8}. The prolonged downturn dented investors’ confidence in TRX as evidenced by the negative weighted sentiment.


    How much are 1,10,100 TRXs worth today?


    The drop in prices also put brakes on the coin’s trading volume as many existing holders preferred to adopt the wait-and-watch approach.

    Source: Santiment

    The negative funding rate for TRX on crypto exchange Binance indicated that bearish leverage traders, betting on price losses, were dominant in the market.

    Source: Santiment





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    SUI Price Targets Breakout as Macro Triangle Pattern Tightens and TVL Tops $2B

    July 11, 2025

    Coinbase partners with Perplexity to unlock real-time crypto data for traders

    July 10, 2025

    Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

    July 9, 2025

    CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

    July 8, 2025
    Top Posts

    Tornado Cash TVL, token price surge despite market downturn

    June 10, 2024

    Ripple may file a cross-appeal to challenge SEC’s legal move

    October 3, 2024

    SUI Network Restores Blockchain Outage; $SUI Price Dips 5%

    December 29, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Will Pi crash or rally in 2025?

    July 11, 2025

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.