Tron Analysis: Is $TRX Ready to Conquer Historic Levels?
After the price of Bitcoin reached the historical high of 99,649 USD, its price experienced a correction that dragged down most cryptoassets.
Amid this context and at the time of writing, the price of Tron (TRX) is trading at 0.1906 USD, with daily losses of 4.58%, weekly losses of 7.11% and monthly gains of 15.7%.
Despite the current correction, the price of $TRX is trading at key levels and has conquered a new three-year high by breaking above the 0.16 USD line. Meanwhile, the price is approaching its historical high at 0.30 USD
Different factors drove TRX to conquer key levels. In particular, there are now more than $55 billion in the Tether-backed stablecoin USDT on the Tron Blockchain, according to DeFiLlama.
Thus, the growth that this Blockchain is having in the sense of becoming a preferred Blockchain for stablecoin ecosystems, drives the price of TRX to key levels.
By the way, on that subject, Shytoshi Kusama, the main developer of Shiba Inu, praised Justin Sun, the founder of Tron, for an important achievement on the Tron blockchain:
Without a doubt, in recent months the price of TRX has experienced a great rebound and has become one of the cryptocurrencies with the highest gains approaching its ATH. Therefore, analysts make positive forecasts regarding this token.
