Justin Sun’s TRON hits all-time high of 10.9M daily transactions, braving crypto winter

Justin Sun, the founder of TRON (TRX) – one of the largest decentralized blockchain DAO ecosystems in crypto – shared a new milestone for the token on Thursday. TRON processed 10.9 million in daily transactions, hitting a record high, adding to evidence of increasing activity despite a broader downbeat market sentiment. 

The altcoin’s network has grown at a steady pace through the crypto winter, although TRON price continues to lag behind. 

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TRON hits new milestone in daily transactions

TRON network has several new upgrades lined up for the mainnet, after hitting key milestones earlier this week. As of Tuesday, the total transactions on TRON exceeded 5.7 billion, signaling increasing network growth and adoption. 

Daily transactions in the TRON network

On Wednesday, daily transactions exceeded 10.9 million, a record high for TRON. The total number of USDT transfers exceeded 2.1 million, according to data from Tronscan. 

While TRON network hit new milestones in terms of on-chain activity, price is yet to catch up. TRON price climbed from $0.0667 on May 1 to $0.0765 on Wednesday, according to the TRON/USDT one-day price chart from Binance on TradingView. This marks an increase of 14.69%. 

TRON/USDT one-day price chart Binance

However, over the past week, TRON price declined 7%, from $0.0797 on May 23 to $0.0741. The altcoin is currently trading at $0.0740 and needs a bullish catalyst to begin its recovery. 

TRON’s developers plan have lined up a mainnet upgrade by the end of June and this is likely to catalyze a recovery in Justin Sun’s token. 

The upcoming TRON mainnet update, is known as the GreatVoyage-v4.7.2 Periander, and it features unstaking flexibility, adaptability to the Ethereum Shanghai upgrade, and upgraded energy estimation.