TRON (TRX) demonstrated notable strength during a broader cryptocurrency downturn, declining just over 1% to trade between $0.2955-$0.3029 despite Bitcoin falling to $116k from its $123k peak and altcoins like Solana (SOL) and XRP dropping over 3%. This relative stability comes amid a 3% reduction in TRX open interest to $380 million and a 10% derivatives volume dip.
Fundamental drivers underpin TRX's resilience: USDT supply on TRON surged past $80 billion, with over $22 billion minted in H1 2025 alone—surpassing 2023-2024's annual totals. Three separate $2 billion USDT mints this year signal institutional demand, absent in 2024. CryptoQuant analyst J.A. Maartun notes a "positive correlation" between USDT growth and TRON's expansion, evidenced by Q2 2025's record $1.93 trillion quarterly USDT transfer volume.
Network metrics exploded: unique users spiked 103%, transactions rose 89%, and volume jumped 121% between Q1-Q2 2025. Technically, TRX holds above all key moving averages (SMA200: $0.25), with RSI at 69.39 and MACD positive at 0.0071. Bollinger Bands indicate bullish momentum (%B: 0.8255), targeting a breakout above $0.31 resistance. Support sits at $0.27-$0.26, while TRX's 52-week range ($0.16-$0.43) highlights room toward its December 2024 ATH of $0.44.