In the cryptocurrency market, TRON once again attracts attention due to the rise in TRX price and active steps taken by SRM Entertainment. These developments may strengthen TRON's position amid recent changes.
SRM Entertainment and New Strategy
SRM Entertainment has announced the launch of a $100 million TRON treasury strategy. As part of this strategy, the company has already staked 365 million TRX on the JustLend platform. This occurred shortly after TRON's founder, Justin Sun, joined SRM as a strategic advisor.
SRM's chairman, Weike Sun, stated that the goal is to earn up to 10% APY on the staked TRX. Furthermore, the company has raised $210 million in strategic funding and made a $100 million equity investment to expand its TRON holdings.
Long-Term Perspectives of TRON Network
Analyzing the current and future perspectives of TRON, analyst Crypto Patel noted that TRON is one of the most overlooked Layer 1 platforms. He highlighted that the daily transaction volume has doubled since September 2023, increasing from 5 million to 9 million. The rise in gas fees is also a factor driving TRX demand, as fees are paid in TRX. Patel emphasized that TRON continues to lead in USDT transactions with low transaction costs and high success rates.
TRX Price Testing Breakout Levels
Currently, TRX is trading near $0.2787. It remains below a descending trendline from early June and is testing resistance between $0.282 and $0.294. This area has acted as a strong rejection point during previous attempts to break through. The chart also shows that TRX is supported by the 50-period EMA, which is situated around $0.2750. The RSI is at 63.72, indicating increasing bullish momentum.
Thus, TRON is demonstrating active interest and growing engagement from both investors and network users. The expansion of strategies and increased transactional activity may indicate a sustainable strengthening of TRX's position in the current market conditions.
