The Tron cryptocurrency (TRX) is one of the coins to watch in the coming days. It has been receiving significant attention, especially as Bitcoin dominance cooled down and retreated below 60%. While BTC dominance declined, TRX experienced the highest dominance among the top cryptocurrencies, jumping from a weekly low of 0.76% on Tuesday to 0.81% at the time of observation.
TRX dominance has been rallying since October 28, with this latest surge increasing its dominance by roughly 12% from its October lows. At press time, TRX was trading at $0.29, having rallied more than 5% from its weekly low. Despite this gain, the price was still down by almost 2% from its opening price.
In contrast, top rivals such as Bitcoin and Ethereum experienced heavier losses, indicating that Tron weathered the bearish storm much better than its counterparts. This outcome may have been influenced by the rising TRX dominance, which could signal higher levels of accumulation.
### Can Tron Crypto Maintain Bullish Momentum Amid Rising Net Flows?
Since the second half of August, TRX price has maintained an overall downtrend when viewed on a weekly timeframe. However, the rising dominance may signal the start of a recovery wave. Supporting this potential recovery are increasing inflows into the Tron network.
According to DeFiLlama, Tron’s net inflows surpassed $107 million this week, marking a 12-week high. Additionally, Tron recorded elevated perpetual futures (perps) volumes, with $157.14 million traded in the last 24 hours—the highest daily volume in over two months.
The surge in perps volume and net inflows corresponds with rising network activity, highlighted by a significant spike in address activity. Between October 27 and November 2, Tron’s weekly address activity surged past 25 million addresses—the highest in the network’s history. This rise in network activity aligns closely with the recent positive price movement.
### Tron Crypto Demand Recap: First Week of November
The increase in TRX dominance aligns with on-chain data pointing to rising accumulation. For instance, TRX spot net inflows have been growing over the past few days since early November, despite some days where net outflows occurred. These spot flows confirm that demand has been increasing even as TRX faced some downside pressure.
This trend is consistent with TRX’s stronger recovery gains compared to its top rivals. However, whale activity around Tron remained subdued, which may indicate limited potential upside in the near term.
Meanwhile, TRX open interest rebounded slightly to around $270 million after bottoming out at $258 million—levels last seen in early June of this year. Previously, this metric peaked above $638 million. It is important to note that TRX open interest is significantly lower compared to major coins like Bitcoin and Ethereum.
This relatively low open interest suggests a lower risk of liquidation events for TRX, which may partly explain its recent appeal among investors amid rising spot demand.
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In summary, Tron’s rising dominance, growing network activity, and healthy inflows position it as a cryptocurrency to watch, potentially signaling the beginning of a recovery phase even as the broader market remains cautious.
https://bitcoinethereumnews.com/crypto/tron-crypto-registers-the-highest-dominance-spike-among-top-coins/
