In recent weeks, TRX - the native token of the Tron network - has been witnessing an impressive recovery, with strong growth not only in value but also in trading indicators. This is not a flash in the pan, but a clear mark, affirming Tron's position as a real competitor in the crypto world, with a strong foundation and outstanding growth potential.
Milestone: 13 billion transactions
As of this week, the Tron network has officially processed over 13 billion transactions - a huge number that cannot be taken lightly. This is not only an impressive milestone, but also a testament to Tron's robust and stable performance in real-world use cases. This is especially evident as Tron has become one of the main vehicles for stablecoin transactions, especially between Asia and Latin America, regions that are increasingly in need of stable, fast, and cost-effective currency transactions.
A large part of this success is due to the strong integration of Tether (USDT), which has become the primary means of payment on the Tron network. Especially in countries like Argentina, where the local currency is highly volatile, people are gradually switching to USDT for basic transactions. This not only demonstrates the practical application of blockchain technology but also affirms that Tron is playing a key role in the transfer of value on a daily basis.
In terms of trading, TRX has seen significant growth. On July 6, TRX recorded a growth of up to 10%, bringing the trading volume to over $326 million, with the current trading price reaching $0.28, up about 1% on the day. This shows that not only long-term investors but also derivatives traders are actively participating in the market, with open interest and trading volume both growing strongly, especially on platforms like Coinglass.
TRX still has growth potential
Technically, TRX is showing a very positive outlook. Currently, TRX’s value is approaching the upper Bollinger Band, which usually signals increasing momentum and a strong uptrend. At the same time, TRX has maintained a stable position above all important moving averages such as MA 10, MA 20, MA 50, and MA 200 – a strong signal of an uptrend and market stability.
The RSI is currently at 62.4, indicating a clear uptrend, but it is not yet in overbought territory, meaning that the upside potential is still wide open.
Besides, MACD is currently in an uptrend, strongly reinforcing the view that buyers are still in control of the market and can push prices up.
If TRX can break the $0.29 level, the next target is $0.31, a level that TRX last reached in mid-June. However, if support from the 20-day moving average is not maintained, we could see the price drop to $0.27 before there is a chance for a recovery.
Tron's strong growth in recent times, along with impressive trading figures, not only proves that TRX is becoming a reliable platform, but also a strong affirmation of the practical application of cryptocurrencies in international transactions. Although TRX currently has strong momentum, the market is still volatile, and investors need to closely monitor technical signals to take advantage of opportunities. However, if this growth momentum continues, TRX may rise to become one of the leading cryptocurrencies in the near future.