#TRXETF #TrumpVsPowell
The Tron price has stalled between the key support and resistance levels at $0.2210 and $0.2595 even as its fees rise.
The Tron TRON
trx
0.07%
TRON token was trading at $0.2430, giving it a market capitalization of $23 billion, making it the ninth-largest coin in the cryptocurrency industry.
TokenTerminal data indicate that Tron has generated over $985 million this year, making it the second most profitable player in the cryptocurrency industry, after Tether Tether
usdt
0%
Tether.
Tron has become a more profitable layer-1 network than Ethereum Ethereum
-0.47%
Ethereum and Solana Solana
0.42%
Solana, which have made of over $388 million and $234 million, respectively.
Its fees have come from its stablecoin transactions. Tronscan data shows that it has become the largest processor of Tether, the largest stablecoin in the cryptocurrency industry. On Friday, it processed $33 billion. There were 2.1 million transfers on Friday, with the number of transfer accounts rising to almost 1 million.
Tron has also benefited from the growth of its decentralized finance sector. DeFi Llama data shows that the volume of tokens handled on the Tron blockchain rose by 20% in the last seven days to over $1.06 billion. It has handled over $3.45 billion in the last 30 days, making it one of the biggest chains in crypto.
The daily chart shows that the TRX price has remained in a tight range in the past few months. It has remained between the support at $0.2165 and the resistance at $0.25,
Tron has moved above the 50-day moving average and formed a bullish divergence as the MACD and the Relative Strength Index have continued rising.
