On-chain data shows that Tron long-term holders have increased by 237% in the past year, suggesting a rise in HODLing convictions on the network.
Tron HODLers Have Seen Their Count Go Up Recently
In a new post on X, the market intelligence platform IntoTheBlock shared an update about how the different segments of the Tron userbase are looking right now regarding the number of addresses they contain.
The cohorts in question have been divided based on holding time, and there are three main cohorts: Traders, cruisers, and HODLers. First, the Traders include the investors or addresses who acquired their coins within the past month.
Many of this cohort’s members would, therefore, be new entrants into the market. Another chunk of the group would be investors only interested in short-term trading or lacking the conviction to hold into the long term.
The second group, the Cruisers, contains the investors who have held beyond the 1 month mark, but are yet to hold for a full year. This class is a mixed bag, with fickle-minded and resolute hands coexisting.
Those who pass the test and hold past the 12-month mark get promoted into the HODLers or long-term holders. Statistically, the longer an investor holds their coins, the less likely they become to sell at any point, so the TRX addresses that fall in this range would be the most stubborn hands in the market.
Now, here is a chart that shows the distribution of the Tron addresses across these three groups:
Looks like the HODLers have been seeing rapid growth in recent years | Source: IntoTheBlock on X
As displayed in the above graph, the Tron HODLers have been growing quickly during the last couple of years. The HODLers earlier used to be fewer in number than the Cruisers, but last year, they changed the situation and have since gained a healthy gap at the top.
In the last year alone, the number of HODLers has grown by around 237%, which has taken their total address count to almost 90 million. In contrast, the number of cruisers is less than 50 million.
As for the Traders, they currently have just 8 million addresses, meaning that an overwhelming majority of TRX investors have held their coins for at least one month.
This shift towards HODLing naturally suggests that investors are becoming more confident about sitting on their Tron into the future, which could be bullish for the price.
TRX Price
While most of the cryptocurrency sector has witnessed notable positive returns over the past week, Tron has more or less moved sideways, as its price is still trading around $0.152.
The below chart shows what TRX’s trajectory has looked like over the past month.
The price of the coin appears to have been stuck in consolidation recently | Source: TRXUSDT on TradingView