Based on data from Google Trends, Tron's (TRX) social interest has surpassed that of Ethereum (ETH) as measured by comparing the keywords TRC20 and ERC20. Tron's keywords were found to have a significantly higher level of interest.
TRX Price Surge Driven By Increased Interest From Whales?
Improvement in Tron's sentiment weight was observed, indicating positive community outlook towards TRX. This may be attributed to whale activity, as significant addresses show increased interest in TRX in recent months.
The surge in TRX price aligning with the attention from whales implies a potential driving force behind its positive price movements. Nevertheless, the concentration of TRX in the hands of a few whales could centralize the network, posing a risk of increased exposure to retail investors if these whales liquidate their positions.
As of now, TRX price volatility has decreased, suggesting short-term safety for retail investors. However, the drop in TRX volume over the past weeks could hint at the possibility of a price correction in the future.
Delving Into The Protocol
According to Token Terminal data, the Tron protocol has seen a considerable decrease in development activity, with a 50% reduction in active developers on its network over the last 30 days. This decline may signify a shortage of forthcoming updates or upgrades, which could constrain its capability to compete with rivals.
Additionally, the Tron network's daily activity fell by 12.0% during the same period, which may raise concerns for Tron investors and users. It could imply a slowdown in the network's adoption and utilization.