Tron (TRX) Blockchain Overtakes Ethereum in Stablecoin Transaction Volume

The Tron blockchain has overtaken Ethereum in stablecoin transaction volume, marking a major shift in the cryptocurrency market landscape.

Tron has experienced a rapid surge in stablecoin transactions, overtaking Ethereum in this category. Over the past seven days, stablecoins (USDT&USDC) on Tron increased by $2.12 billion, while on Ethereum, there was a decrease of $2.44 billion in stablecoin liquidity.

This shift may be attributed to Tron's lower transaction costs and quicker processing times, making it more attractive for daily transactions and stablecoin transfers. At present, the total stablecoin market cap on Tron is $73.8 billion, compared to Ethereum's $71.9 billion.

Meanwhile, there has been a shift in the behavior of large TRX holders, also known as whales. After engaging in over a thousand transactions on May 12, these major holders have significantly reduced their activity to just a few hundred transactions in recent days.

During this period, they sold approximately 231 million TRX to smaller investors, who appear to be readily absorbing the tokens.

As a result of this selling pressure, TRX price has remained stable despite the large-scale selling by whales. The token recently reached a high of $0.2739 and continues to trade above the $0.27 level.

According to the latest data, TRX was changing hands at $0.2653. Moreover, trading volume has surged by 69.18% to $938.02 million, indicating heightened interest from traders and investors in the token.

This price resilience suggests that smaller investors may be absorbing the supply being sold by whales. The market appears to be shifting toward broader participation rather than being dominated by a few large holders.

Technical Analysis: A ‘Golden Cross’ Flips the Tide

A recent “golden cross” has formed on the charts, with the 50-day Simple Moving Average crossing above the 100-day SMA. Since this technical event occurred, TRX has climbed approximately 11%.

This pattern is often viewed as a bullish indicator by market participants. The price continues to trade above both these key moving averages, suggesting buyers remain active in the market.

As long as these levels hold, TRX could potentially test the $0.28 resistance level. Strong support exists around $0.23, where the 100-day and 200-day moving averages converge. This technical support zone could provide a safety net in case of any downward movement.

The next few days will be crucial for determining whether TRX can build on this momentum and move toward the $0.30 level that many investors are watching.