TRON Targets $5 As Stablecoin Supremacy Drives Market Surge — Analyst
TRON (TRX) has experienced a significant surge in market activity, causing the company to make headlines. In November 2024, TRON achieved a staggering revenue of $587 billion Tether The amount of transfers increased by 30% compared to previous months.
This significant expansion highlights TRON’s position as the preeminent blockchain platform for stablecoin trading, characterized by fast transaction speeds and low fees. TRON’s deflationary model and the growing popularity of Stablecoin As the cryptocurrency market continues to evolve, it could pave the way for larger price increases.
USDT transfer volume on TRON reaches a record high of $587.2B (monthly)
“Stablecoins have seen significant growth in recent months due to the strong interest in cryptocurrencies. TRON has become the leading blockchain for stablecoin transfers.
This chart highlights… pic.twitter.com/150KEggTlK
— CryptoQuant.com (@cryptoquant_com) December 14, 2024
Further growth and technical analysis
TRON, this is Currently trading at $0.279, As recent technical analysis shows, the currency has shown strong upward momentum after reversing from support around $0.2400. Analysts expect it to break above the subsequent resistance at $0.3200, which hampered its price in early December.
The current positivity in the cryptocurrency market supports this view, as it suggests that TRON may continue its upward trend. Given that TRON’s market capitalization currently exceeds $35 billion, its rapid expansion reflects a broader trend of capital moving toward mature cryptocurrencies as investors seek stability amid market volatility.
Experts foresee bright future
Cryptocurrency expert Andrew Griffiths believes that the price of TRON may soon reach $3 to $5. He said the network’s popularity as a stablecoin and payment tool is responsible for this growth. The growing demand for USDT could help TRON become a bigger player in the crypto world.
#TRX TRON is heading towards a top and once it gets squeezed to that level it will explode, which will happen sooner or later, probably in the next few months, targeting $3-5, with crazy deflationary models and the fastest payments blockchain Processing, nothing… pic.twitter.com/b0xhgqhABT
— Andrew Griffiths (@AndrewGriUK) December 13, 2024
TRON’s recent performance has not gone unnoticed; it has become a darling among investors looking for stable returns. It is an attractive option for developers designing decentralized applications (dApps) because of its robust infrastructure that can handle thousands of transactions per second.
Furthermore, with continued advancements in the cryptocurrency space, such as technology upgrades and partnerships, TRON is expected to maintain its upward trajectory.
The road ahead
TRX recently peaked at $0.45, doubling its valuation overnight and reaching a market capitalization of $39 billion. Founder Justin Sun strategically invested US$30 million world free financethe company’s trajectory has improved, and TRON is now a major player in the blockchain space.
Featured image from Fast Company, chart from TradingView
