![Decoding TRON’s [TRX] price performance in spite of bearish conditions](https://i.headtopics.com/images/2023/2/12/cryptoamb/decoding-tron-s-trx-price-performance-in-spite-of--decoding-tron-s-trx-price-performance-in-spite-of--1624582813402992640.webp)
TRX’s performance on the price front remained better than many over the last week. Several developments and metrics might have played a role in TRX’s performance. On 10 February, TRON [TRX] announced that the total amount of TRX burned had surpassed 15 billion. With this, the circulating supply of TRX had been reduced by 10.3 […]
Not only that, but Fireblocks, a digital asset and crypto infrastructure platform, announced that it has expanded non-EVM DeFi access with TRON. After this, users will be able to securely connect to TRON dApps through WalletConnect, starting with JustLend DAO and JustStables.
Another major development was recently revealed by Justin Sun. TRON launched a new $100 million AI development fund to facilitate the integration of AI and blockchain technologies. The blockchain has identified four areas of focus, including an AI service payment platform, AI infused oracles, and others.
Santiment’s chart also pointed out quite a few metrics that were working in TRX’s favor, which might have helpedrestrict a price decline. For instance, positive sentiments around TRX spiked in the last few days. Moreover, after a sharp drop, demand from the derivatives market increased again as TRX’s Binance funding rate went up. However, TRX’s development activity declined over the last few days, which was a negative signal.
Moreover, the Relative Strength Index followed a sideways path, indicating that the market could head in any direction. However, the MACD displayed a bearish crossover, which increased the chances of a downtrend in the coming days.Subscribe to get it daily in your inbox.
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