Google Trends data shows that the Tron protocol has outperformed Ethereum in terms of social interest, with a large increase in search volume for the keywords TRC20 compared to ERC20.
This has been coupled with an improvement in weighted sentiment for Tron, indicating a positive outlook from the crypto community towards TRX.
However, the increased attention towards TRX from whales may lead to the centralization of the network, posing a potential risk for retail investors if these large addresses choose to liquidate their positions.
While the price volatility of TRX has declined, suggesting a safer short-term investment for retail investors, the decrease in TRX’s volume over the past few weeks could indicate a potential threat of a price correction for TRX in the future.
Moreover, Token Terminal data suggests that the Tron protocol has experienced a significant decline in development activity, with a 50% drop in the number of active developers on its network in the last 30 days.
This could limit its ability to keep up with competitors, potentially hindering its future growth. Additionally, daily activity on the Tron network has decreased by 12.0% during the same period, raising concerns for Tron investors and users regarding the network’s adoption and usage.
