In the past few days, the on-chain activity of TRX has been bustling; on one side, big players are frantically buying, while on the other, ordinary users are panicking and fleeing. Is this another 'retail buys, whales feast' old script?

Big players are silently buying, preparing to make moves.

Recent on-chain data is clear: whale wallets have quietly bought up 10% of the circulating TRX supply in the past 30 days, and a group of medium-sized big players are also stepping up, directly increasing their holdings by 41%. With the Gas usage rate also skyrocketing, it shows that on-chain operational frequency has noticeably increased. You know the drill: they are betting that TRX is about to take off.

Are retail investors fleeing? TVL is plummeting.

But the problem is, ordinary users aren't cooperating. Just in the past two weeks, the on-chain borrowing TVL has dropped by 2 billion dollars, with a massive amount of funds starting to withdraw. Data from the past 90 days also shows that more people are selling than buying — in other words, big players are buying to drive prices up while retail investors are fleeing as prices rise.

It's like scalpers grabbing tickets and filling the venue, only for the audience to start refunding. The big players perform, but no one watches, and in the end, it might just be a self-entertaining show.

Sun's 'zero Gas fee' strategy: going all out.

But to be fair, Tron really has its strengths. For instance, transferring money now costs almost nothing, and you don't even have to hold TRX; you can directly use USDT for transaction fees, attracting a lot of newcomers to play with TRC20. Now the issuance of TRC20 version USDT has completely surpassed the Ethereum version, especially in scenarios like cross-border remittances and e-commerce settlements, where it's widely used in developing countries.

This operation is a classic 'dimensionality reduction attack'; while others are still building highways, Sun has already taken to the maglev train.

Deflation is here, is the currency price about to explode?

Today (June 11), there's another big news: Tron super representatives are voting on whether to increase the deflation rate from 0.85% to 1.29%. How? By cutting some block rewards and issuing a few million less TRX daily.

This is equivalent to reducing 'money printing', which is a short-term positive for the currency price. But the downside is that miners and nodes earn less; can this ecosystem withstand it? The gamble is on a logic: the scarcer it is, the more valuable it becomes.

0.29 dollars, heaven or hell?

TRX has been hovering in the range of 0.25 to 0.29 dollars for several months now, and is once again challenging the resistance at 0.29. The RSI is nearing overbought, with 92% of holders in profit — this position is a watershed.

Which way to go next? Watch for two key points:

Can the borrowing TVL stop falling?

Will the buy orders suddenly surge?

If these two signals align, a breakout may happen; otherwise, it could be another 'false rally'.

A little poisoned gift: What does Sun's recent operation resemble?

On one hand, he says he wants to reduce inflation and make TRX scarce; on the other hand, he implements 'zero Gas fees' allowing people to use USDT as transaction fees... It's like secretly draining the pool water and then shouting, 'Everyone come swim for free!' — whether you're swimming in water or air depends on how tough you are.

Is it the whales that are well-fed, or the retail investors that are caught? Is 0.29 dollars the endpoint or the starting point?

If you're still hesitating on what to do next, hit follow so you don't miss out; a more intense analysis is coming soon!