• TRON climbs to ninth with $TRX volume hitting $1.64B ahead of the Nasdaq bell event

  • TRX prints bullish reversal as price reclaims $0.314 with volume nearing 1.77B

  • USDT P2P transfers on TRON exceed 70% as on-chain supply crosses $60 billion

TRON has officially entered the top nine cryptocurrencies by market cap, pushing past Cardano $ADA as investor attention shifts. Trading volume for TRX has jumped over 30% in 24 hours, topping $1.64 billion as excitement builds for Justin Sun's Nasdaq bell ceremony scheduled on Thursday, July 24.

This move comes as TRON strengthens its presence in U.S. markets through the new TronStrategy initiative, where Sun now serves as advisor. The market has responded fast. Bullish momentum is picking up, price is reclaiming key resistance, and TRON’s technical structure shows a reversal pattern with real traction. The timing of this surge aligns directly with fresh on-chain data showing growing confidence in TRON-based stablecoins and increasing demand for decentralized settlement.

Technical Structure Confirms Accumulation

TRON is flashing a strong bullish setup, one supported by both price behavior and volume. A clean inverse head and shoulders formation has appeared on the 1H chart, marked by a head at $0.296 and a right shoulder holding above $0.303. Price has now reclaimed $0.3143 and is testing neckline resistance.

Source: Tradingview

At this point in the formation, volume has surged to 1.77 billion, echoing historical breakouts seen on $TRX . This pattern signals a structural shift from distribution to accumulation as buyers reclaim control. Bulls are stepping in early, absorbing dips and defending higher lows with precision.

TRX previously peaked above $0.34 before pulling back. If TRX holds above $0.310, price targets open toward $0.325 and $0.333 with momentum building. The next candles will reveal if momentum holds or fades near resistance.

Stablecoin Shift Reinforces TRON Strength

The bullish structure isn’t isolated. It’s supported by on-chain data that signals major behavioral changes. According to a report by CryptoQuant, more than 70% of USDT on TRON now moves wallet-to-wallet. P2P volume has tripled since 2023, while CEX exposure has dropped below 10%.

Source: CryptoQuant

Wallets now hold over $60 billion in TRON-based USDT. Meanwhile, USDD supply has surged to $480 million, with mint activity accelerating in May and July. These shifts show a clear migration off exchanges and rising demand for decentralized liquidity.

This structure aligns with TRON’s core strength — speed, low fees, and scalable architecture. Fee data supports this thesis. Average weekly fees peaked at 2.47 TRX in March 2024 but have since dropped below 1 TRX. With congestion down and costs stabilized, on-chain usage is not only cheaper but also more efficient.

Source: TronScan

The total value of USDT P2P transfers on TRON now exceeds $24 billion monthly. Exchange-based transactions sit near $12 billion. Supply held off exchanges for USDD has also crossed $400 million. This confirms rising real-world usage across the #TRON network.