Recent analysis has shown a significant increase in Tether (USDT) supply on the TRON blockchain, potentially contributing to the further recovery of the TRX token.
Record USDT Volume on TRON
According to a June 24 analysis, the total circulating supply of USDT on the TRON blockchain has surpassed $80 billion. This milestone positions TRON as the largest network for USDT issuance.
Current Status of TRX
At the time of writing, TRX is trading at $0.2729, up 2.2% over the past 24 hours. The token is still 36% below its peak of $0.4313 reached in December 2024.
Technical Analysis of TRX
Technical indicators suggest that TRX is consolidating near key support levels. The price is above most important exponential moving averages. Indicators show buy signals, though the MACD remains slightly bearish.
Overall, the increase in USDT supply on TRON might lead to the recovery of the TRX token, but the current technical situation requires careful analysis of potential support and resistance levels.
