The TRON network, despite the recent drop in the value of its token TRX, is showcasing impressive metrics in USDT usage and user activity.
TRON's Position in the USDT Market
TRON controls over half of all USDT circulating globally. Out of an overall supply of $81.8 billion, $80.3 billion is attributed to USDT, accounting for 50.6% of Tether's total supply. Each day, TRON processes $21.3 billion in USDT — more than PayPal.
Increase in TRON User Activity
TRON is not limited to stablecoins. The second quarter of 2023 saw a 12.6% increase in daily transactions, reaching 8.6 million. The number of active wallets totaled 2.5 million, indicating real platform usage. Additionally, staking has risen, with 47.1% of the total TRX being staked.
TRX Price Prospects and Market Impact
Currently, TRX is priced around $0.313, with its recent peak being $0.50. Analysis indicates that if TRX can break above the $0.33-$0.34 level, it may reach price targets of $0.42, $0.49, and potentially $0.50. Stability at the support level of $0.30 and high transaction volume suggests upward potential.
The TRON network continues to show remarkable results related to USDT usage and the growing user base. The active use of the TRX token and its reduction in circulation create a positive outlook for strengthening its price in the future.
