Tron [TRX] struggles to gather strength but user growth remains strong

Tron [TRX], which was once one of the top crypto-assets, has gradually fallen off the leaderboard. Despite the depreciation in terms of its price, user growth has been steady. Tron Foundation unveiled the semi-annual report of user growth and found a gradual increase in figures over the past seven months.

The total number of accounts on Tron was recorded to be 18.633K in the month of January. At the end of June, the figures stood at over 44.726k, meaning an increase of more than 140%. Even after falling to the 28th spot, user growth has remained pretty unfazed.

Daily sign-ups, on the other hand, fell short. From 68,962 to 146,630 in a seven months span, the figures were up by more than 112%; however, the statistics have reacted strongly to the token’s price action. Daily sign-up figures reached a high of 275,778 in the month of May at the peak of the bull run. Subsequent corrections and FUDs engulfing the market damaged the momentum.

Another important indicator of decent growth was the number of active accounts on the network. Even as the count slashed half from the month of June, at 5.261k, to July at 2.002k, it still rose by around 150% since the beginning of the year.

Tron’s [TRX] price is yet to catch up

TRX has finally managed to log into some gains this month as the wider crypto market went for a bullish spin. However, it is yet to catch up to its peer tokens in terms of price action after falling behind the likes of Tezos [XTZ], VeChain [VET], and Ethereum Classic [ETC].

After dwelling in the bearish territory, for the most part, TRX noted a minor increase of 0.87% over the past day, which pushed its token to $0.095.

Tron Weekly had earlier reported the official launch of Tron’s [TRX] exchange-traded product on Xetra, which happens to be the electronic trading platform of Europe’s biggest Deutsche Börse German stock exchange. The main objective of the new product, which is an exchange-traded note [ETN] called ‘VanEck Vectors Tron ETN [VTRX],’ was to develop its foothold across Zurich, Paris, and Amsterdam. However, the news failed to bring in positive price action.