The Tron network has attracted attention with the stablecoin USD1 from World Liberty Financial Inc. (WLFI), accompanied by increasing activity in the network and strengthening TRX's position in the crypto market.
Rise of Activity on the Tron Network
The recent launch of the USD1 stablecoin by WLFI on the Tron platform contributed to an increase in the total value locked (TVL) to $5 billion. Data from DeFiLlama indicates substantial activity in decentralized finance (DeFi) on Tron, with 4.5 million returning addresses and a significant uptick in USDT usage. This creates a positive atmosphere for TRX, despite a recent market correction.
TRX Indicators and Potential
The Sharpe Ratio analysis for TRX shows it reaching a value of 8.3, indicating undervaluation. The current price of TRX is around $0.29, and the recent drop below 1 signals a relatively 'cheap zone.' It is expected that with continued positive momentum, the price may reach $0.44 by the end of June, although outcomes may vary depending on the overall market condition.
Outlook and Warnings for TRX
The situation with TRX is at a critical juncture, and although an upward trend is visible, there may also be a short-term decline. If TRX breaks from its rising parallel channel, possible drops could see $0.21, and if pressure mounts, the support level at $0.14 could be tested. Analysis suggests the need for caution, although significant buying activity may also lead to rising towards $1.
In summary, Tron and its token TRX demonstrate stability and potential while facing the challenges and opportunities inherent in technological innovations within the cryptocurrency space.
