TRX Surges 2.68% as $1B USDT Minted on Tron and Key Proposal Targets Scarcity

TRXUSDT experienced a 2.68% price increase over the past 24 hours, currently trading at 0.2908 USDT on Binance. The positive price movement is primarily attributed to several recent developments: Tether minted $1 billion USDT on the Tron blockchain, boosting liquidity and stablecoin activity; TRON initiated voting on Proposal No. 102, which aims to reduce block and voting rewards, potentially increasing TRX scarcity and supporting its value; and founder Justin Sun hinted at possible blockchain upgrades to enhance transaction speed. Despite a notable decline in Total Value Locked (TVL) on the TRON network, particularly in the lending category, rising open interest in TRX derivatives indicates growing trader optimism. Trading volume remains robust, and TRX continues to hold a strong market position with a market capitalization exceeding $27 billion.