TLDR
- TRX leads altcoin performance with 2.66% weekly gains against Bitcoin, beating Ethereum and Solana
- TRON achieved 115% yearly returns driven by massive user growth and network expansion
- MetaMask integration brings TRX to 100+ million users while Kraken adds xStocks trading support
- Network processes 61% of transactions in USDT, with $860 million recent exchange inflows
- Holders reached record $230 million realized profits despite continued bullish momentum
TRON has become the top-performing major altcoin in recent weeks. The Justin Sun-led blockchain delivered 2.66% gains against Bitcoin over seven days. This performance significantly outpaced Ethereum and Solana, which managed only 1% gains each.
XRP posted negative returns of 2.28% during the same timeframe. TRON’s outperformance has sparked renewed interest from investors who missed earlier opportunities.
The cryptocurrency trades at $0.35, maintaining support above its July 23 low of $0.24. Technical analysis shows a bullish MACD signal following the recent bounce. However, the Stochastic RSI indicates overbought conditions.
TRX has delivered over 115% returns in 2024. This makes it one of the best-performing cryptocurrencies since 2021. The sustained rally has been primarily driven by expanding user adoption and strategic partnerships.
Strategic Partnership Momentum
Kraken recently expanded its xStocks platform to the TRON blockchain. Users can now trade tokenized versions of major stocks including Apple and Tesla. This integration brings traditional market participants into the TRON ecosystem.
MetaMask announced TRX integration across its platform. The wallet service provides access to over 100 million users worldwide. MetaMask previously added support for Sei Network and Solana in similar expansion moves.
These partnerships represent major infrastructure developments. The tokenization of traditional assets creates new use cases for the TRON network.
Stablecoin Transaction Leadership
TRON maintains its position as the dominant network for USDT transactions. The blockchain processes 61% of its total transaction volume in USDT. This pattern has remained consistent since 2022.
Recent data shows $860 million in stablecoin inflows to major exchanges. OKX led these transfers, while Bitfinex handled approximately one-fifth of OKX’s volume. Large stablecoin movements often signal upcoming market activity.
The network’s fee revenue recently surpassed Ethereum and Hyperliquid. This revenue comes primarily from stablecoin transaction activity. TRON’s low-cost structure attracts users seeking efficient USDT transfers.
TRON holders experienced record profitability levels in August. Realized profits peaked at $230 million on August 8. Most selling pressure originated from addresses holding TRX for over two years.
Despite profit-taking activity, TRX received $12.6 million in positive net flows within 24 hours. Open interest in futures contracts decreased by $50 million over five days. Funding rates also declined, indicating reduced speculative activity.
Justin Sun announced plans to adjust transaction fees as TRX prices increase. This proposal aims to maintain competitiveness for DeFi and tokenization activities. The fee structure adjustment would preserve TRON’s advantages in stablecoin processing.
The network’s treasury announcement provides another growth catalyst. TRX currently targets a retest of its previous peak at $0.37 as institutional adoption accelerates through new partnerships.
