Tron’s Profitability Soars Despite Price Stagnation
Tron’s price has been stuck between $0.2210 and $0.2595, but its fees are on the rise. The TRX token is currently valued at $0.2430, with a market cap of $23 billion, making it the ninth-largest cryptocurrency.
According too TokenTerminal, Tron has generated over $985 million this year, placing it second in the crypto industry, just behind Tether (USDT). This impressive feat has made it more profitable than Ethereum and Solana, which have earned $388 million and $234 million, respectively. The network’s fees mainly come from stablecoin transactions, especially Tether (USDT). Tronscan data reveals that Tron processed $33 billion in Tether transactions on Friday, with 2.1 million transfers and nearly 1 million transfer accounts. It has become the largest Tether processor, surpassing Ethereum and Solana.
Tron’s decentralized finance sector has also seen growth. DeFi Llama data shows a 20% increase in token volume over the past week, reaching $1.06 billion. In the last 30 days, it has handled over $3.45 billion.
Technical analysis suggests a bullish breakout for TRX. The price has moved above the 50-day moving average, with MACD and RSI indicators rising. If the price breaks above $0.2585, more gains are likely. The next key level is $0.3085. However, a drop below $0.2165 would invalidate the bullish outlook.
