TRON’s TRX Advances Nearly 5% as It Surpasses Ethereum in USDT Circulation Amid Improving Trade Climate
TRON’s native token, TRX, continues its upward trajectory, posting a 4.8% gain in the last 24 hours, fueled by positive macroeconomic signals and a key achievement in the stablecoin market.
TRX’s price rose from $0.264 to a peak of $0.276 before experiencing a mild correction, marking a significant upswing that coincided with TRON overtaking Ethereum as the top blockchain for USDT circulation. TRON now holds $73.8 billion in USDT, edging past Ethereum’s $71.9 billion.
Investor optimism has been lifted by the recent announcement of a U.S.-China trade agreement from the White House, signaling a potential easing of prolonged trade tensions. At the same time, institutional adoption of digital assets remains strong, highlighted by Coinbase’s recent inclusion in the S&P 500, which underscores the growing legitimacy of cryptocurrencies in traditional finance.
Technical Breakdown:
- TRX surged from $0.264 to $0.276, driven by strong volume spikes at critical breakout levels.
- Support was firmly established near $0.265 during both afternoon and evening sessions.
- Resistance near $0.275 led to price consolidation before a minor pullback.
- The formation of higher lows suggests sustained bullish momentum throughout the trading period.
- After peaking at $0.276, TRX corrected roughly 0.9% to $0.273 amid heavy selling pressure totaling 11.8 million tokens.
- New support developed around $0.274, with multiple attempts to break back above $0.275 proving unsuccessful.
- Current price action indicates consolidation between $0.273 and $0.274, with steady buying interest near session lows.
As TRON cements its leadership in the stablecoin ecosystem and global trade tensions ease, TRX is well-positioned for continued strength, though traders should watch for signs of further consolidation or a breakout.
