To improve the liquidity in the bull market, Tether has once again minted a massive amount of USDT over the TRON network. The mint within the past 12 hours aligns with Tether’s strategy to maintain substantial supply across all the major exchanges and blockchains. With the recent 1 billion USDT mint, the total circulating supply …
Tron is now in the top 10 blockchains by market cap, flipping Toncoin and Cardano. While there were initial doubts about the network dying a natural death due to the then “superior” competitor Ethereum in the first few years, the smart contracts platform has surpassed expectations. Tron Energy Demand Doubles In 3 Months At spot rates, is TRX likely to print fresh all-time highs, and the mainnet is also thriving. According to IntoTheBlock, the Tron energy requirements have expanded 100% in the past three months. Related Reading: $200,000 Bitcoin In 2025? $791 Billion Asset Manager Calls It ‘Conservative’ Experts say the rapid increase in Tron energy indicates growing network activity and rapid adoption. Like Ethereum and other modern chains, Tron is energy efficient and relies on validators for transaction processing. However, in Tron’s case, energy is useful when executing smart contracts on the mainnet. As more people deploy meme coins or launch DeFi dapps, the mainnet’s “fuel” demand also increases. Rising resource needs push Tron energy to fresh levels. By how Tron is designed, more energy is needed during periods of high demand to prevent gas fees from spiking in case transactions are congested. That energy has been rising in the past few months is not surprising. Not only does Tron boast of a thriving DeFi ecosystem, but it also has a vibrant meme coin scene. Ecosystem Boom Driven By Meme Coins: TRX Priming For New All-Time Highs? DeFiLlama shows that all Tron DeFi dapps manage over $7 billion of assets. On the other hand, the recent launch of SunPump, a meme coin launchpad in August, has seen over 91,000 meme coins deploy on the network. Looking at Dune, over 1,700 tokens have been listed on Sunswap. Related Reading: Bitcoin Price Retests Bullish Channel At $65,000, Analyst Reveals What’s Next Coincidentally, the spike came with the activation of SunPump in August. As of October 24, SunPump has helped Tron generate over $5.4 million in revenue, looking at Dune data. Others came from smart contract deployments via gaming, DeFi, and other diverse dapps on the platform. TRX is trading at around October 2024 highs at press time, defying gravity. Interestingly, despite the momentum challenges Ethereum faces, TRX, on the other hand, is less than 4% away from all-time highs. If bulls build on October 24 gains, the coin may easily break August highs, printing a new all-time high in Q4 2024. Feature image from DALLE, chart from TradingView
The business plan for WBTC is to increase the outstanding amount by five to 10 times what is now, just under $10 billion – using a geographically diversified custodial setup that might be more appealing to buyers outside the U.S
TRON (TRX) recently garnered attention by incinerating over 10 million tokens, demonstrating its dedication to a deflationary approach intended to enhance its value. Currently, TRX is trading at roughly $0.1605, indicating a small increase. Related Reading: Uniswap: New Crypto Developments Lift UNI Price Up by 17% – Details Analysts express optimism on TRON’s future, forecasting a 57% price increase during the next three months, and an even more remarkable 208% rise over six months, figures from CoinCheckup show. This optimistic perspective indicates that TRX may be poised for a substantial upward trajectory in the cryptocurrency market. A Robust Technical Foundation The technical indicators for TRX are converging towards a positive sentiment. The price chart demonstrates a modest upward trend, while the Relative Strength Index (RSI) is presently at 57.58. This statistic indicates that TRX is approaching overbought area, however there still potential for more gains. The Stochastic indicator, currently at 66.63, reinforces this bullish perspective by demonstrating momentum without indicating imminent exhaustion. Collectively, these factors suggest that TRX may sustain its upward trend in the short future, rendering it an appealing opportunity for investors. Increasing Enthusiasm For TRON Alongside the token burn, TRON has had a decent increase in daily active addresses, indicating a growing investor interest, data from IntoTheBlock shows. Although the general trend seems constant, this minor uptick suggests that more people are entering the market. This increasing participation may enhance the token’s upward trajectory, particularly when coupled with the current deflationary strategies. As TRON endeavors to diminish its circulating supply, these elements may establish a foundation for heightened prices. Market Sentiment And Trading Conduct Despite the positive statistics, traders remain extremely cautious. The Long/Short Ratio shows shorts slightly outstrip longs with 54% shorts and 46% of longs. This is a ‘wait-and-see’ attitude by traders while awaiting a possible volatility in the price movement of TRX. Related Reading: Shiba Inu Could Surge 340%, Echoing Its 2021 Bull Run Peak — Analyst The TRX OI-Weighted Funding Rate is at approximately 0. That means that the balance of longs to shorts is neutral, and hence it may also reflect positively on market sentiment pending short-term variability for TRX’s price. Recent burning of tokens by TRON and the steady increase in active addresses can boost the momentum TRX needs to post solid growth rates for the next couple of months. Technical indicators depict a positive trend and solid price projections, which shows TRX will gain substantially in the short term. Featured image from Pixabay, chart from TradingView
A drop in Ethereum network activity and investors' concerns about the global economy continue to weigh on ETH price.
In a significant milestone, TRON Network reported a record-breaking revenue of $577 million for the third quarter of 2024, TRON founder Justin Sun revealed on the X platform. This marks the highest revenue the network has achieved since its inception, with a 43% increase compared to Q2. The surge in revenue is primarily credited to …
Vitalik Buterin noted that Celo’s second L2 testnet, Alfajores, will be upgraded to Ethereum L2 on Sept. 26.
According to one analyst, Tron, a popular smart contracts platform and a stiff competitor of Ethereum, could be one of the most important layer-1s. Based on his assessment, the platform now serves more as a transactional layer, similar to Bitcoin. Tron Leads In P2P Stablecoin Transfers While the network was first known for hosting gaming […]
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 […]
As the Tron ecosystem continues to experience significant adoption, the community has successfully come to an agreement on the Sun Pump Protocol’s revenue allocation strategy introduced by the project’s founder Justin Sun. This agreement represents a major turning point for the Tron network since community members agreed on how to distribute the generated funds, guaranteeing […]
Justin Sun's SunPump community abandons LP token burning in favor of a more transparent, onchain buyback and burn process.
When compared with July, Tron Network has jumped 46.54% Month-on-Month (MoM), from $41.92 Million to $61.43 Million. Notably, BSC has recorded a decent jump of 6.63% from $10.56 Million to $11.26 Million. However, the Ethereum Network has recorded a significant drop of 33.44%, from $94.06 Million to $62.61 Million. Followed by this, Bitcoin has dropped …
The TRON community has successfully raised the network’s energy cap to 120 billion in the backdrop of the SunPump frenzy last week. This development is expected to boost transactions for TRX stakers, lower gas fees, and enhance overall network activity. Tron founder Justin Sun shared that he’s impressed by the TRON community’s execution. The TRX …
Amid the memecoin frenzy on the Tron network, Justin Sun is facing backlash for the controversial removal of over $700 million in Bitcoin (BTC) as USDD’s collateral without the Tron DAO Reserve’s vote. Sun has now addressed the situation after the move raised concerns about the stablecoin’s decentralization. Related Reading: Tether Announces Upcoming UAE Dirham-Pegged […]
The newly introduced SunPump, a meme coin deployer on the Tron network, is seeing significant adoption in the industry. Following the launch of the meme coin deployer, Tron (TRX) has risen to the top of trending cryptocurrency assets, triggering a wave of engagement and interest within the Tron ecosystem, as cited by Santiment, a leading […]
Crypto startup funding rose over 2.5% in Q2, and Tron could be on track to become the most profitable blockchain in terms of revenue, according to Justin Sun.
According to data from DeFi Llama, the Tron network accrued $1.31 million in network revenue during the past 24 hours alone.
Tron outperforms the altcoin market with groundbreaking developments and robust metrics. Our comprehensive report provides a closer look at Tron’s advancements.
Famous crypto enthusiast and founder of Tron DAO, Justin Sun has revealed the main focus for the Tron ecosystem for the third and fourth quarters of the year in the midst of recent heightened optimism witnessed around the ecosystem. Main Focus For The Tron Ecosystem In The Second Half Of The Year During the weekend […]
In an exciting development, Justin Sun, founder of Tron Network, has announced plans are underway to introduce gas-free stablecoin transfers. This has drawn much reaction with many applauding Tron’s latest proposed feature, while other users criticize the late implementation of this upgrade. Related Reading: Crypto Mogul Justin Sun Offers To Buy Germany’s $2 Billion Bitcoin […]
The circulating supply of the dollar-linked stablecoin on the two blockchains represents roughly 0.1% of the total USDT supply.
Justin Sun, Tron’s blockchain founder, has called on the crypto community to support a pro-crypto candidate in the forthcoming US presidential elections in November. Sun made this appeal in a May 26 social media post, emphasizing the importance of aligning with a candidate who endorses cryptocurrencies to ensure the industry’s voice is heard and interests […]
The post Justin Sun urges crypto community to back pro-crypto presidential candidate appeared first on CryptoSlate.
The TRON Foundation and Justin Sun asked a New York court to dismiss an SEC lawsuit, arguing that the regulator failed to establish that the court has jurisdiction over the foreign defendants.
The world of Decentralized Finance (DeFi) witnessed a power move this week. Justin Sun, the Tron poster child, strategically deployed a massive 120,000 Ethereum (ETH) into the burgeoning Ether Fi protocol. This $480 million injection not only underscores Sun’s commitment to the DeFi space but also propels Ether Fi to the forefront of the industry. […]
Binance will delist the COMP/TUSD, EDU/TUSD and PENDLE/TUSD trading pairs on March 15 at 03:00 UTC.
Cointelegraph Research dives into TRON’s emerging use cases and ecosystem in new research report.
Solana is one of the biggest gainers over the past year after losing over 90% during the cryptocurrency bear market.
The Campaign for Accountability released a new open letter criticizing Circle’s Cross Chain Transfer Protocol.
The BTT token from BitTorrent, the file-sharing platform that Tron bought in 2018, more than doubled in price on Wednesday amid apparent optimism about the Tron blockchain.
Almost two-thirds of Israel's Tron seizures were in 2023, including 39 from wallets Israel said in June were owned by Lebanon's Hezbollah and 26 in July from Hamas ally Palestinian Islamic Jihad.