Tron Network Growth Accelerates with Increasing Tether Transfers
Tron Network- Tron’s blockchain network has now processed over 13 billion transactions, marking a significant milestone in the growth and adoption of cryptocurrency payments worldwide. This surge reflects not only raw transaction volume but also Tron’s expanding role in facilitating stablecoin transfers, particularly between Asia and Latin America.
According to CryptoQuant contributor Darkost, Tron’s daily transaction count now averages more than 8 million. A substantial portion of this activity is driven by Tether (USDT), which has effectively positioned Tron as a reliable payment network for users dealing with volatile local currencies or limited access to traditional banking services.
In countries like Argentina, Tron functions as a parallel financial system, where stablecoins are commonly used for everyday purchases. The market response is visible in TRX’s recent performance: a 10% increase in trading volume pushed it beyond $326 million, with the price rising nearly 2% to $0.2886 within the last 24 hours.
Derivatives data from Coinglass further supports this momentum, showing a 2% increase in open interest and a 29% surge in trading volume. These figures suggest increased trader engagement and anticipation of continued upward movement.
From a technical standpoint, TRX has reclaimed its short-term trendline and is currently trading near the upper Bollinger Band, signaling growing momentum supported by volume. The price remains above major moving averages (10-, 20-, 50-, and 200-day), while the Relative Strength Index (RSI) sits near 63, indicating bullish sentiment without overbought conditions. Additionally, the MACD’s positive signal line reinforces the prevailing bullish trend.
A decisive break above the $0.29 resistance level could open the door for TRX to test the next target near $0.31, last challenged in mid-June. Conversely, if the price falls below the 20-day moving average, currently acting as a support cushion, a short-term retracement toward the $0.2770 support zone may occur.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
