Tron Price Jumps after $1 Billion in USDT Minted on Platform
Tron (TRX) spiked higher to a daily high of $0.2722 from its monthly lows of $0.2592. The breakout followed June 22’s minting of $1 billion worth of USDT, noting the bullish mood since demand for stablecoins within the Tron network grew.
The mint, conducted by Tether, was intended to replenish the supply and followed another such $1 billion mint on June 9. Market players take these repeated mints to mean a sign of growing network usage and investor appetite.
On-Chain Metrics Bolster Bullish Argument
Tron metrics on CryptoOnchain show activity at all-time highs. Both 50-day and 100-day moving averages of active addresses are record highs. Even transaction volume has risen 30% since February, underpinning conviction in TRX price action.
These figures show strong user engagement and the acceleration of utility of the Tron network, further underpinning the bullishness of recent USDT action.
Nasdaq Listing Adds Fuel to Rally
To the rally, a listing on Nasdaq via a reverse merger awaits Justin Sun’s firm that is behind Tron. Dominari Securities is conducting the transaction, and its advisory board includes Donald Trump Jr. and Eric Trump.
This coming public also legitimates the Tron network even further as well as a notable institutional interest. Sun, whom the SEC had previously investigated, is now placing itself with influential political and financial leaders in the U.S.
TRX Price Outlook: Can It Hit $0.31?
Technically, Tron has remained strong at $0.26 support levels even below trend for some time. Experts suggest a potential uptrend to $0.31 if the bullish factors like Nasdaq listing and stablecoin demand hold out.
While the short-term trend lost its higher highs trend, overall market structure remains intact—predicting potential continuation of an uptrend.
