Can Tron Price Reach $0.25 After Outperforming BTC, SOL, and ETH In Revenue? 🔎 🤷♂️
The Tron Network has posted a record Q3 revenue of over $577.2 million, which was largely driven by stablecoin activity and Justin Sun’s efforts to capture a slice of the burgeoning meme coin market.
This revenue surge marks a 43% growth in the third quarter of the year and a 113% increase year-on-year (YoY).
Additionally, Tron’s cumulative transaction count hit an all-time high, with Smart contracts, TRX transfers, and USDT transfers contributing the highest numbers. This suggests that Tron network growth has been gradual but steady, with acceleration picking up around mid-2021, which is bullish for Tron price.
Tron founder Justin Sun is optimistic about Q4 as the network outperformed big wigs Bitcoin and Ethereum. Tron’s Q3 revenue was more than double Ethereum’s, 5X Solana’s and 9X Bitoin’s Q3 revenues.
The chart suggests a bullish ascending triangle pattern. This is generally a continuation pattern, implying that a breakout will likely occur to the upside, especially if Tron price breaches $0.1650.
If the price of TRX fails to push higher and pulls back to around $0.1450, this would make a great accumulation zone. However, if the price falls below this level, it would signal market weakness, leading to further drops toward $0.1270 and $0.1190. A break below $0.1350 would invalidate the current bullish thesis.
