Tron's native token TRX witnessed a 526% surge in large transactions totaling $1.58 billion (4.7 billion TRX) within 24 hours, signaling heightened whale activity according to IntoTheBlock data. This comes as network activity hits multi-year highs, with CryptoQuant reporting 2.8 billion annual transactions – second only to Solana.
Tron's dominance in stablecoins is pivotal, holding $82 billion in stablecoin supply across 9.8 million addresses and processing $625 billion in monthly transactions. The network generated $3.5 billion revenue over 12 months – exceeding Ethereum, Solana, and BNB Chain combined – while its DeFi ecosystem holds $6.12 billion in assets.
Despite a 2.09% dip to $0.336 amid broader market declines and Fed rate decision anticipation, TRX had rallied 75% from its 2024 low to $0.35 on July 29. The surge follows Tron Inc.'s filing to raise $1 billion for TRX accumulation, coinciding with ongoing token burns that reduce supply.
Technically, TRX remains above key support at $0.292 (50-day SMA) and shows bullish indicators including an ascending trendline and break above the 50-day EMA. Analysts project potential retests of $0.40 resistance and December 2024's all-time high of $0.44 if momentum resumes.