Tron Records Historic 10 Billion Transactions, Surpassing Previous Peak as Price Rises Above $0.25
TRON'sonslaught continues to astonish the crypto world, as it surpasses yet another milestone with 10 billion total transactions under its belt since its launch in June 2018. And in the grand scheme of things, this blockchain beast doesn't seem to be slowing down.
A peek into the daily routines of TRON reveals approximately 8.4 million transactions happening every day, per CryptoQuant's analysis by Maartun. The network's most bustling periods, you ask? The 2021 and 2023 bull runs, of course! But despite these ups and downs, TRON's daily usage has been on an upward drift, according to Maartun, who emphasizes that this volume of on-chain traffic is often overlooked yet indicative of a bullish outlook.
Now, let's turn our attention to some key areas where TRON is flexing its muscles. DeFiLlama's data reveals that the network's total value locked (TVL) currently stands tall at $5.03 billion. Although it's not quite at the $7 billion it recorded at the beginning of the year, it's showing signs of a recovery trend. Decentralized exchange volumes, on the other hand, have reached eye-popping heights this year, climbing from $3.4 billion in March to $4.9 billion in April.
Next up, TRON's dominance in the stablecoin market is on the rise. The network's stablecoin market capitalization has ballooned from $58 billion in January to over $70 billion, with a spectacular $2.17 billion added in a single week. The week ended with Tether (USDT) minting an impressive $1 billion USDT on Apr. 21.
When it comes to technical insights, TRX is currently trading near $0.245, nibbling at the crucial resistance level of $0.25. The price is comfortably above several key moving averages, generating an air of bullish optimism. The Relative Strength Index (RSI) is neutral at 51, yet the Moving Average Convergence Divergence (MACD) indicator leans ever so slightly towards bearish territory. Thankfully, most other oscillators remain flat, with the market appearing to adopt a wait-and-see approach.
So, where will TRX head next? The upward target, in sync with the upper Bollinger Band, lies between $0.26 and $0.265. Should the bulls successfully tip $0.25 into a solid support, this could very well be their next pit stop. Conversely, a slide below $0.243 might trigger a retest of the $0.239-$0.240 support zone, potentially jeopardizing the bullish setup.
As we delve deeper into the core of TRON's ecosystem, we see signs of improvement all around. On Apr. 30, P2P.org, a web3 staking service provider, was given the green light as a TRON Super Representative, paving the way for participation in block production and institutional staking. And in April, Canary Capital filed for a spot TRX ETF with staking features, a move that signals growing interest from the world of traditional finance.
TRON founder, Justin Sun, has expressed a positive outlook for TRX's future, even predicting a new all-time high for its market capitalization in Q2 2025. He points to a growing correlation with Bitcoin as a promising sign of maturing market behavior.
In an effort to further bolster the memecoin ecosystem, Justin Sun has also launched incentives for the TRON community. The question now remains: will this latest move be the catalyst that propels TRON into uncharted territories? Buckle up, crypto enthusiasts, the ride's just getting started!
- TRON's daily transaction volume, according to CryptoQuant's analysis by Maartun, averages approximately 8.4 million.
- The 2021 and 2023 bull runs were the network's most bustling periods, despite the ups and downs.
- DeFiLlama's data shows that TRON's total value locked currently stands at $5.03 billion.
- Decentralized exchange volumes on TRON reached $4.9 billion in April, up from $3.4 billion in March.
- TRON's stablecoin market capitalization has surged from $58 billion in January to over $70 billion, with a significant $2.17 billion added in a single week.
- The Tronix (TRX) token is currently trading near $0.245, above several key moving averages, generating a bullish optimism.
- Justin Sun, TRON's founder, predicts a new all-time high for TRX's market capitalization in Q2 2025. He also launched incentives for the TRON community to further bolster the memecoin ecosystem.
