Stablecoin Transfers Reach .4 Billion as Market Shows Recovery


TLDR

  • Analysts predict TRX price could reach $1 this bull cycle
  • TRON network activity reached a 2-month high with 2.94 million active addresses
  • 91% of TRX holders are currently in profit, with only 5% at a loss
  • TRON leads stablecoin transfers with $11.4 billion in USDT transactions
  • Large holders control 79% of TRX supply, potentially stabilizing the market

The TRON cryptocurrency has seen growing market interest due to strong network activity and bullish price projections from analysts. Recent data shows the blockchain’s growing importance in the crypto ecosystem, particularly for stablecoin transfers.

TRX is currently trading around $0.24, showing modest gains amid broader market recovery. Analyst Crypto Patel recently suggested that TRX could reach $1 during this bull cycle, citing strong momentum in the TRON network.

This bullish outlook is supported by on-chain data. According to analyst Ali Martinez, TRON recently recorded 2.94 million active addresses, a 2-month high that indicates growing user engagement.

The network has also become a dominant force in stablecoin transfers. Recent data shows $11.4 billion worth of USDT (TRC-20) has been transferred on the TRON blockchain, with $1.83 billion sent to major centralized exchanges.

These large transfer volumes reinforce TRON’s position as a leading blockchain for stablecoin transactions. With 1.89 million total transactions, the network continues to attract users with its efficiency and low fees.

The current price action shows TRX trading at approximately $0.24, with technical indicators suggesting potential volatility ahead. Bollinger Bands are tightening, with resistance at $0.2369 and support at $0.2259.

Tron Price on CoinGecko
Tron Price on CoinGecko

Looking at holder data provides additional context for TRX’s market position. According to IntoTheBlock, 91% of TRX holders are currently in profit, suggesting most investors purchased at lower prices.

Large holders control approximately 79% of the total TRX supply. This concentration could act as a stabilizing force, though it also presents risks if major holders decide to sell their positions.

Exchange flow data shows $68.72 million in net outflows from exchanges over the past week. This movement of TRX from exchanges to private wallets is typically seen as a bullish indicator.

TRX price has shown relatively low correlation with Bitcoin at just 0.22, indicating it follows different market trends than the leading cryptocurrency.

Whale and institutional activity remains strong, with transaction volume for trades over $100,000 reaching $2.13 billion over the past seven days.

Recent Price Movements

Historical price movement may provide context for current predictions. In October last year, Crypto Patel predicted a 200-300% surge in TRX price when it was trading around $0.16. The price subsequently reached $0.426 by early December 2024, though it later declined.

The broader crypto market recovery has contributed to positive sentiment around TRX. Recent pro-crypto developments in the U.S., including Donald Trump’s strategic crypto reserve announcement, have boosted overall market optimism.

There has also been speculation about TRON’s potential role in Trump’s digital asset strategy. TRON founder Justin Sun has hinted at TRX’s possible inclusion, though no official confirmation has been made.

Trump recently announced plans for a strategic crypto reserve that includes Bitcoin, Ethereum, XRP, Solana, and Cardano. Market participants are closely monitoring these developments and their potential impact on TRON.

Whether TRX will reach the projected $1 target remains to be seen, but the combination of strong network activity, stablecoin dominance, and positive holder metrics suggests continued interest in the Justin Sun-backed cryptocurrency.



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