TRX on the Rise: Tron's Stablecoin Surge Sparks Recovery Hopes

Tron Overtakes Ethereum in USDT Issuance

Holy stablecoins, Batman! TRX, the heart and soul of the Tron network, is showing signs of life as it hits a major milestone in the stablecoin arena. CryptoQuant's Maartunn dropped a bombshell on June 24, revealing that the total circulating supply of Tether (USDT) on the Tron blockchain has blasted past $80 billion. That's right, folks, Tron is now the heavyweight champ of USDT issuance!

USDT Supply on Tron Skyrockets

Since late 2020, USDT supply on Tron has been on a wild ride, jumping from a measly $7 billion to a mind-blowing $39 billion during the 2021 bull market. And guess what? In November 2024, it finally knocked Ethereum out of the ring, becoming the king of USDT supply. The party didn't stop there, though. By mid-June 2025, the supply had soared from $59.76 billion to a staggering $80.76 billion. Talk about a stablecoin explosion!

Total Value Locked Takes a Hit

But hold on to your hats, because it's not all sunshine and rainbows. Despite the insane growth in stablecoin supply, Tron's total value locked has taken a nosedive, dropping from $7.5 billion in January to just $4.3 billion. Ouch! It looks like the party's moving elsewhere, at least when it comes to locking up those funds.

DEX Volumes Paint a Brighter Picture

Don't lose hope just yet, TRX fans! While the total value locked might be down, the decentralized exchange volumes are telling a different story. Monthly trading volume on Tron-based DEXs shot up from $4.9 billion in April to $5.5 billion in May. That's right, the trading action is heating up on-chain, and it's bringing some much-needed optimism to the table.

TRX Price Action: Consolidation and Potential Breakout

At the time of writing, TRX is hanging tough at $0.2729, up a respectable 2.2% in the last 24 hours. Sure, it's still 36% below its peak of $0.4313 from December 2024, but hey, every journey starts with a single step. The daily volume might be down almost 29% to $939 million, but don't let that dampen your spirits. Spot trading activity might have cooled, but TRX is still in the game.

Technical Analysis: Signs of Strength Amidst Consolidation

From a technical standpoint, TRX is playing it cool, consolidating near some key support levels. The price has been doing the sideways shuffle just below the 20-day simple moving average, but don't let that fool you. It's still above most of the important exponential moving averages, from the 10-day to the 100-day EMAs. That's right, folks, there's some serious underlying strength in this trend, even if the price is still stuck in a range.

Indicators Flash Mixed Signals

The Bollinger Bands are getting a little cozy, showing a slight narrowing and less volatility. TRX is hugging the middle band like a long-lost friend. The relative strength index is chilling near 50, showing a neutral momentum bias. The momentum and bull/bear power indicators are waving their little buy signal flags, but the MACD indicator is still hanging out in slightly bearish territory. It's a mixed bag, but that's what makes this crypto ride so exciting!

Breakout Potential and Support Levels

So, what's next for TRX? If it can break free from the 20-day SMA and smash through the $0.28 resistance, we might just see a bullish breakout on the horizon. That could open the door to a retest of the $0.30-$0.32 range. But let's not get ahead of ourselves. If TRX can't hold above $0.265, it might be in for a rough ride down to the lower Bollinger Band around $0.262. Buckle up, crypto fans, because it's going to be a wild one!