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TronWeekly
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Tron Explodes 108% in Activity as Massive Bullish Momentum Builds Fast
- Tron's on-chain activity surges 108%, driven by smart contract growth.
- SRM Entertainment partners with Justin Sun, rebrands as 'Tron Inc.' for public market exposure.
- Despite market volatility, TRX remains above key technical support levels.
- SRM Entertainment's deal with Tron founder Justin Sun elevates TRX's market presence.
- The move could make TRX one of the first blockchain networks with public market exposure.
- Market volatility affects TRX's price, with initial surge dampened by global uncertainty.
- Tron's fundamentals remain solid, with a 108% increase in daily energy consumption year-over-year.
- 80% of TRX's energy demand comes from staking, indicating growing smart contract activity.
- TRX retraces to $0.2730 after peaking near $0.295, supported by network strength and technical levels.
- The pullback in TRX's price is attributed to general market stress rather than internal weakness.
- On-chain data shows rising demand for on-chain applications and decentralized services on TRX network.
- TRX's technical outlook remains positive with strong long-term momentum and key support at $0.269-$0.253.
- High energy usage on TRX network signals potential for further price appreciation if volatility eases.
- An upward move could target $0.32, but caution is advised amidst macroeconomic uncertainty.
- TRX's on-chain metrics and public market exposure may drive its evolution in the crypto space.
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