TRON Hits 10 Billion Transactions as Bulls Target $0.25 Breakout
Since its launch in June 2018, TRON has reached an impressive milestone, exceeding 10 billion total transactions.
In a May 1 analysis by CryptoQuant contributor Maartun, it was reported that the network processes approximately 8.4 million transactions each day. While activity surged during the bullish markets of 2021 and 2023, TRON’s (TRX) daily activity has shown a consistent upward trajectory. Maartun pointed out that this level of on-chain activity is often overlooked, yet it serves as a strong bullish indicator.
On-chain analysis indicates that TRON is gaining ground in various sectors. Data from DeFiLlama shows that the network’s total value locked is currently at $5.03 billion. Recent trends suggest a recovery, although it’s below the $7 billion recorded at the beginning of the year. Furthermore, the decentralized exchange volume has hit its highest monthly total this year, increasing from $3.4 billion in March to $4.9 billion in April.
Moreover, TRON’s presence in the stablecoin market is growing. The network’s stablecoin market capitalization has risen from $58 billion in January to over $70 billion. In late April, there was a significant surge of $2.17 billion added in just one week, which included Tether (USDT) issuing $1 billion USDT on April 21.
From a technical standpoint, TRX is trading close to $0.245, just below the critical resistance level of $0.25. The price remains above several major moving averages, such as the 50-day and 100-day, which are generally considered bullish indicators.
With a relative strength index of 51, the market is currently neutral, while the moving average convergence divergence indicator leans slightly bearish. Most other oscillators are flat, suggesting a cautious market stance.
The next target for upward movement, aligning with the upper Bollinger Band, is anticipated to be between $0.26 and $0.265. This could be achievable if bulls successfully establish $0.25 as a support level. On the other hand, a drop below $0.243 could jeopardize the bullish outlook and necessitate a retest of the $0.239–$0.240 support zone.
Meanwhile, the fundamentals of TRON continue to strengthen. On April 30, web3 staking service provider P2P.org was approved as a TRON Super Representative, allowing participation in block production and institutional staking. Earlier in April, Canary Capital filed for a spot TRX ETF that features staking, reflecting growing interest from traditional finance.
TRON’s founder, Justin Sun, has also voiced optimism, predicting that TRX’s market capitalization will hit a new all-time high in Q2 2025. He mentioned the strengthening correlation with Bitcoin (BTC) as a sign of an evolving market landscape.