TRX Token Drops 5.73% After USD1 Launch and Governance Proposal Amidst High Trading Volume

TRXUSDT declined by 5.73% over the past 24 hours, with the price dropping from 0.2913 to 0.2746 on Binance. The recent price decrease follows a period of heightened volatility after the June 11 launch of the USD1 stablecoin on the TRON blockchain, significant whale accumulation, and the announcement of governance Proposal 102 to reduce TRX issuance. While these developments initially contributed to a bullish surge and increased trading activity—reflected in a spike in open interest and short liquidations—the market has since retraced as traders reacted to profit-taking and broader market sentiment stabilized to neutral. TRON maintains strong fundamentals, with a 24-hour trading volume of approximately $854 million, a market cap near $26.35 billion, and continued leadership in stablecoin activity and DeFi total value locked, despite the short-term price correction.