On-chain data indicates a substantial rise in the number of long-term Tron (TRX) holders, with a 237% increase observed over the past year. This trend suggests a growing conviction among investors to hold onto their TRX for the long haul.
Tron HODLers See Significant Growth
According to a recent post by market intelligence platform IntoTheBlock, the Tron user base is now showing compelling trends in terms of the number of addresses across different holding periods. The user cohorts are divided based on how long they have held their TRX, categorized into three main groups: Traders, Cruisers, and HODLers.
The Traders group comprises investors or addresses that have acquired TRX within the past month. This cohort mainly includes new market entrants and short-term traders who do not yet have the conviction for long-term holding.
The second group, known as Cruisers, includes those who have held their TRX for more than one month but less than a year. This group is a mix of both short-term traders and potential long-term investors who are still in the intermediate holding phase.
Finally, the HODLers are those who have held their TRX for over a year. These are the long-term holders, and statistically, the longer an investor holds their coins, the less likely they are to sell. Thus, HODLers represent the most resilient hands in the market.
Distribution of Tron Addresses
Recent data shows that the number of Tron HODLers has seen rapid growth over the past few years. Initially, HODLers were fewer in number compared to the Cruisers, but the trend shifted last year. Now, the HODLers have a substantial lead.
In just the past year, the number of HODLers has surged by approximately 237%, bringing their total address count close to 90 million. In comparison, the number of Cruisers is under 50 million. Traders, on the other hand, have around 8 million addresses, indicating that a vast majority of TRX investors have held their coins for at least one month.
This shift towards HODLing suggests increasing investor confidence in the future of Tron, which could have a bullish impact on its price.
TRX Price Analysis
Despite the broader cryptocurrency market experiencing notable positive returns recently, Tron has remained relatively stable, with its price hovering around $0.152. The following chart illustrates TRX’s price trend over the past month.
The coin’s price appears to be stuck in a consolidation phase, neither rising nor falling significantly. This stability could be a precursor to a potential breakout, depending on market conditions and investor sentiment.
In conclusion, the growing number of long-term Tron holders reflects a robust confidence in the asset’s future. As more investors choose to HODL their TRX, the network’s stability and potential for price appreciation could strengthen further.
