Tron (TRX) Maintains Upward Trajectory Despite Broader Market Consolidation

Tron (TRX) has maintained a steady upward trajectory despite the broader crypto market’s consolidation. The cryptocurrency is currently trading at $0.2495, recording a 2.6% increase

Tron (TRX) has maintained a relative strength in the market as major altcoins continue to struggle. TRX is currently trading at $0.2495, showing a 2.6% increase over the past two weeks and a 0.7% uptick in the last 24 hours.

This stability comes at a time when other major altcoins have experienced muted price action. The relative strength of TRX has caught the attention of market analysts who are examining on-chain data for clues about future price movements.

According to recent analysis by CryptoQuant contributor BorisVest, the Tron network is showing signs of an accumulation phase. The report highlights a decline in new wallet creation and transaction fees, suggesting a cooldown in network activity.

However, rather than indicating weakness, these metrics are being interpreted as a consolidation period. This pattern often precedes stronger market moves, based on historical data.

The network experienced a spike in complex transactions and gas usage during recent price highs. However, both average and maximum gas usage have since fallen, indicating a slowdown in usage intensity.

Despite occasional price surges, the number of new wallet addresses has remained flat or declined. This trend suggests limited retail or organic growth in the current market phase.

DEX Volume Reaches Yearly High

In contrast to the slowing activity in wallet creation, Tron’s decentralized exchange (DEX) trading volume has reached a new yearly high of over $750 million, according to data from DefiLlama.

This surge in trading volume signals increased user activity and liquidity on the Tron blockchain, further strengthening its bullish outlook.

The spike in DEX activity comes as TRX price holds firm above its weekly support level of $0.244. Technical analysts suggest a potential upside target of $0.260 if this support continues to hold.

The Relative Strength Index (RSI) currently hovers around its neutral level of 50, indicating some indecision among traders. For the bullish momentum to gain strength, the RSI would need to move above 60.

Similarly, the Moving Average Convergence Divergence (MACD) indicator shows coiling patterns, reflecting uncertainty among TRX investors. A bullish crossover in the MACD would provide stronger confirmation of an uptrend.

Stablecoin Growth Continues

Perhaps the most compelling bullish indicator for Tron comes from stablecoin activity on its blockchain. The stablecoin market capitalization on Tron has steadily risen since mid-March and currently stands at $71.93 billion, reaching a new all-time high.

Tether (USDT) circulation on the Tron blockchain has now surpassed $71 billion, placing it just behind Ethereum, which hosts around $75 billion in USDT.

🚨 Latest: Tether minted $1 Billion $USDT on #TRON

Bullish or bearish? 🤔

Historically, large $USDT prints = fresh capital entering the crypto markets💰

More USDT = more liquidity = potentially more buy pressure 🚀 pic.twitter.com/kFT4aqcNEW

— Trader Edge (@Pro_Trader_Edge) May 6, 2025

This growing stablecoin supply indicates strong demand for value transfer and settlement use cases on the network. Such stablecoin activity and value increase point to sustained demand and growing ecosystem trust.

The expanding stablecoin presence on Tron could attract more users to the ecosystem, driven by various use cases including Decentralized Finance (DeFi), meme coins, and payment applications.

If TRX maintains its position above the weekly support level, it could extend gains and retest its April 14 high of $0.259. However, a close below $0.244 might lead to a decline toward the April 11 low of $0.234.

The current on-chain metrics, rising DEX volume, and growing stablecoin market cap all suggest that Tron is in an accumulation phase that could precede a more substantial price movement in the near future.