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TRON

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<p class="is-style-lead">Tron (TRX) is performing well for the bulls, and the asset is showing bull flags according to technical indicators provided by TradingView. </p>



<p class="is-style-default">Trading at $0.07826 as of press time, <a href="https://crypto.news/price/tron/">TRX</a> was sitting on a daily gain of 8.2% as the asset recorded a 100% increase in trading volume within the same period.</p>



<p>Despite the rising valuation, TRX’s volatility levels seem to be increasing as the Bollinger bands used in estimating volatility diverge away from each other, displaying increased volatility levels.&nbsp;</p>



<p>The relative strength index indicator is also moving in above its average line, a positive indication of a bullish trend on TRX, as the MACD indicator also now moves high above in the positive region, technically indicating a bullish trend on the asset. </p>



<figure class="wp-block-image size-full"><img decoding="async" width="818" height="576" src="https://crypto.news/app/uploads/2023/05/image-55.png" alt="Tron rallies as Q1 report shows positive results - 1" class="wp-image-14159237"><figcaption class="wp-element-caption">TRX 1-day chart | Source: <a href="https://www.tradingview.com/chart/zhJr3zVm/?symbol=BINANCE%3ATRXUSD" target="_blank" rel="noreferrer noopener">TradingView</a></figcaption></figure>



<p>Tron is sitting at 11% for the week as the total cap for the asset stood at $412,092,598 as of press time, with a circulating supply of 90,342,261,289 TRX.</p>



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<h2 class="wp-block-heading" id="tron-s-q1-report">Tron’s Q1 report</h2>



<p>The move comes ahead of the release of <a href="https://messari.io/report/state-of-tron-q1-2023?" target="_blank" rel="noreferrer noopener">Tron’s Q1 report</a>. According to recent research published by market intelligence company Messari, the first three months of 2023 saw a rise in the number of transactions on the Tron blockchain. </p>



<p>The total market capitalization of its native token, TRX, increased by roughly 20% quarter over quarter.</p>



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<p>The United States Securities and Exchange Commission (SEC) has announced multiple lawsuits against tron tokens.</p>



<p>Nonetheless, the network activity has mostly remained unaffected by these developments. The <a href="https://crypto.news/learn/how-to-invest-in-cryptocurrency/">crypto’s</a> overall quarterly revenue increased to $90.04 million in Q1 2023, representing an increase of 88% when compared to the $47.96 million it brought in during Q4 2022.</p>



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Tron rallies as Q1 report shows positive results

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