The recent strong rise in Tron’s TRX price can be attributed to several factors, including significant growth in the fundamental metrics of the Tron ecosystem and positive market sentiment. Here are the main reasons:
1. Strong ecosystem performance
• Revenue growth and trading activity: Tron’s revenue reached 244 million USD, up 18% from the previous month, while total trading volume increased by 165%, reaching 31 billion USD in 24 hours.
• Total Value Locked (TVL): TVL has doubled, reaching 13.68 billion USD, reflecting user confidence in DeFi products on Tron.
• Active users and accounts: The number of daily active users increased by 38% to 2.58 million, and the total number of accounts has exceeded 276 million.
2. Positive market sentiment
• Achieving a new ATH: TRX reached an all-time high price of 0.4407 USD, stimulating investor optimism.
• Surge in trading volume: Trading volume has skyrocketed (over 15.9 billion USD), reflecting significant interest from investors.
3. Slight supply reduction
• The supply of TRX tokens has decreased by 0.18%, creating scarcity, while demand has surged, driving prices up.
4. Technical indicators support the bullish trend
• RSI reached 92 (overbought), indicating strong buying pressure.
• The next price target is predicted at 0.5528 USD, with a potential rise to 0.7523 USD if market momentum continues.
5. The expansion of stablecoin market capitalization
• Tron achieved a record stablecoin market capitalization of 61 billion USD, reinforcing the network’s role in supporting decentralized finance (DeFi) and stablecoin transactions.
6. Interest from the community and social media
• Increased discussions on social media and media outlets are attracting more new investors into the Tron ecosystem.
Risk notice: Although the TRX price is rising sharply, the volatility of the cryptocurrency market is very high. Investors need to carefully consider and should only invest with capital they are willing to risk.