Highlights:
- Tron is making higher lows in a bullish channel
- Rally could continue if bulls push Tron through the $0.249 resistance
- Rally through this resistance could push Tron to $0.30 in the short term
The cryptocurrency market seems to be finding some ground after weeks in the red. On the day, Tron (TRX) is up by 4.16%, trading at $0.248. The surge in price, accompanied by a surge in volumes, points to rising interest in Tron.
Advertisement
Bitcoin Helping Push Tron Price Higher
Bitcoin’s strong performance is one of the key reasons for Tron’s price rally today. Today, Bitcoin is in the green, and in the process, it has uplifted the entire market. Given the volatility of crypto, the Bitcoin price has the greatest impact on the market cap movements. If Bitcoin maintains its current uptrend, Tron could see even greater gains in the short term.
Improving Core Metrics Strengthen Tron’s Outlook
Outside the immediate trends in the market, it is evident that Tron is witnessing improvement across the key metrics. CryptoQuant, Messari, and CryptoRank, some of the leading blockchain analytics platforms point to an expanding Tron ecosystem.
Messari’s Q4 2024 Report Highlights
In terms of technology, Messari’s Q4 2024 report illustrates the growth Tron’s ecosystem has achieved and its operating efficiency. The report summarizes a 7.19% increase in daily transactions from 7.15 million in the previous quarter to 7.67 million in the current quarter. Tron’s ecosystem development was further enhanced by strategic partnerships with Bitget, Chainlink, and Mercado Bitcoin, deepening Tron’s market presence.
Introducing https://t.co/WaJksAnu7H
Your Portal for quantitative and qualitative insights within the @trondao ecosystem.
The official source of truth for the entire TRON community. pic.twitter.com/3e920spwav
— Messari (@MessariCrypto) January 27, 2025
Developer Engagement and Innovation
Through the initiative HackaTRON and the TRON Builder Tour, Tron has been actively engaging developers. These programs have cumulatively onboarded over 2500 people, further confirming that Tron’s blockchain is developer-friendly and thus fosters innovation and technological sophistication.
CryptoQuant’s Insights on Scalability and Efficiency
The report from CryptoQuant emphasizes Tron’s scalability and cost-efficient features, which makes it unparalleled as the default blockchain for high-volume transactions. Supply of USDT on the Tron network rose sharply from $48 billion in 2023 to $62 billion in USDT by 2024 while the total value transferred surged from $362 billion in Dec 2023 to $576 billion in Dec 2024. This highlights the increasing relevance of Tron’s role in the stablecoin ecosystem.
USDT balance on TRON is nearing its all-time high after two $1.0B mints last week
“This surge in USDT supply suggests increasing demand… Large mints like these are often associated with heightened trading activity & institutional movement.” – By @JA_Maartun pic.twitter.com/bxNsHgyNE7
— CryptoQuant.com (@cryptoquant_com) February 7, 2025
Tron’s Revenue Growth Indicative of a Growth Network
According to CryptoQuant data on Tron, revenue generation vis-a-vis network fees are on the rise. In 2024, network fees hit a new high of $236 million in 2024. Moreover, Tron is now positioned among the top three active address blockchains after approximately 400 million active addresses in the second half of 2024.
I seriously think $ETH needs to step up because $TRX just flipped ETH in fee revenue.
This is a huge milestone for #TRON, but also a wake-up call for Ethereum to step up its game.
TRX is undeniably faster and cheaper than ETH, and this proves that the underdogs of this cycle… pic.twitter.com/WvfRNfcq9o
— Dark Horseman (@Dark__Horseman) February 10, 2025
Tron Now Taking on Ethereum on Key Metrics
Recent reports suggest that Tron is now catching up to Ethereum’s noteworthy network metrics. Tron has recently overtaken Ethereum in revenue from fees, a critical advancement for the blockchain. This points to a bright future for Tron and its price.
Technical Analysis – Tron Price Trading In A Bullish Channel
From the charts, chances are high that Tron could be headed much higher. Tron is trading in a bullish channel and is making higher lows.
This is an indicator that bulls are firmly in control and every dip is being bought up. If the current trend continues, the key level to watch would be the intra-day support at $0.249. If Tron rallies through this resistance, then prices above $0.30 could be tested in the short term.
Recap
With a strong market momentum and increase in adoption as well as new players entering the market, Tron seems to be in an excellent position for more growth. If it keeps on improving its technical skills and fostering the ecosystem, the Tron price could hit new highs in the foreseeable future.
eToro Platform
Best Crypto Exchange
- Over 90 top cryptos to trade
- Regulated by top-tier entities
- User-friendly trading app
- 30+ million users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
Advertisement
