by Reza Ali
TRON (TRX) has become the number-one platform for stablecoin transactions thanks to a increased flow of USDT (TRC-20) money. In recent data from CryptoQuant, the network handled 11.4 billion USDT in transactions of which 1.83 billion were moved into what are commonly referred to as centralized exchanges.
Inflow to the total exchange was 30.86 million USD with the blockchain processed around 1.89 million transactions, accounting for 6.17 percent of the exchange inflows. This surge shows how stablecoin users are attracted by TRON’s low fee and fast transaction speed. They say the uptick in inflows is more likely to mean rising liquidity on many exchanges, which often precedes an increase in trading activity.
TRON’s Price Movement: Stability or Further Decline?
The growth in USDT transactions has been impressive, but TRX has not had an easy time with its price. TRX last traded at $0.2324 of which has a 24-hour trading volume worth $1.3 billion as of press time. The asset has fallen 3.00% for the past 24 hours and 0.53% for the previous week as per data from CoinGecko.
The market is still in a neutral stance according to the technical indicators. The Relative Strength Index (RSI) for the TRX stands at 46, suggesting that either the TRX is not overbought, nor oversold. Also, the Stochastic stands at 54.2, meaning there is little overbought or oversold momentum in the price range and it is fairly stable. TRX is in a consolidation phase, both directionally and short term is unclear.
According to IntoTheBlock data, TRON has a mostly bearish sentiment, with one bearish indicator and four neutral signals. The rate of Net Network Growth is 0.45%, which means that Net user adoption is moderate, yet steady. Likewise, large transaction volume increased by 0.83%, though nothing out of the ordinary seemed to be affecting market trends.
TRX Holders Face Losses as Selling Pressure Persists
Currently, one of TRX’s critical metrics is -0.13% of ‘In the Money,’ implying that a part of TRX holders have incurred loss. An ongoing selling pressure given this condition will continue unless they see the pendulum swinging in a positive way.
By mentioning remarks from TRON’s founder, Justin Sun, TRON’s presence in the market again gained traction, as the latter hinted at its potential to be involved in the digital asset strategy of former U.S. President Donald Trump. This momentary increase in the price of TRX was fueled by guesses at what level of regulatory or institutional involvement will have on price.
https://twitter.com/justinsuntron/status/1896260302079238590
According to Trump, the planned strategic reserve will include Bitcoin, Ethereum, XRP, Solana, and Cardano among many other cryptocurrencies. When he made the announcement on Trump’s Truth Social, it led to a $300 billion spike in the entire crypto market and Bitcoin rose to $90,000 as a result.
TRON’s continued positioning in the still evolving crypto landscape might better position them as stable coins continue to play a critical role in playing a role in liquidity management, as well as institutional investments. The growth of the blockchain is making it clear that the network can change the course of digital finance.
#blockchain #crypto, #decentralized, #distributed, #ledger
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