TRON (TRX) Price Narrows Dominance Gap with Ethereum as TRX Price Holds Above $0.24

TRON's stablecoin strategy continues to pay dividends as USDT circulation reaches new heights while the blockchain battles recent security

TRON's stablecoin strength continues to pay dividends as USDT circulation reached new highs but the blockchain also battled a recent technical glitch.

What Happened: Following a month of good price performance, TRON TRX/USD is maintaining consistent levels above the $0.24 mark, trading at about $0.2490 at the time of writing.

While the network dealt with a well-publicized technical issue affecting its official X account, underlying data shows TRON’s ongoing dominance in the stablecoin industry and fees, with technical indicators flashing a possible breakout particularly versus Bitcoin BTC/USD.

"We are monitoring the situation closely and will provide updates as they become available. In the meantime, please be aware of fraudulent activity and do not send any funds to any addresses other than those officially announced by TRON."

With Tether (USDT) circulation at $71.4 billion, just $1.4 billion behind Ethereum’s $72.8 billion, TRON’s stablecoin approach keeps getting stronger. This follows Tether’s fresh $1 billion mint on TRON on May 5, setting the network to perhaps recover its lead in USDT circulation, which it already had between July 2022 and November 2024.

While accounting for 28% of all active stablecoin wallet addresses - greater than any other blockchain - TRON now facilitates 29% of the total stablecoin market ($242 billion) and 47% of USDT’s market valuation ($149.4 billion).

After gaining access to the X account, the hacker displayed a contract address and sought money for promotional advertising, leading to losses of nearly $45,000 among victims who fell prey to the scam.

"Our security team quickly identified the intrusion and cut off access to the hacker - we ask the community to continue to be vigilant," a TRON spokesman said.

The incident sparked a public spat between TRON founder Justin Sun and OKX over frozen requests for stolen funds after Sun later cleared the claims following an assertion by OKX CEO Star Xu that the exchange never received any official request to help recover stolen funds.

At $0.2490 at the time of writing, TRX shows a 0.71% daily gain. TRON has climbed 4.2% during the past month, 55.5% over six months, and an amazing 102.75% over the past year while down 2.3% year-to- date.

With prices keeping position above the crucial $0.24 support level, technical indicators from TradingView flash a “strong buy” signal across many criteria. Most famously, the long-term TRX/BTC chart shows TRON breaking out from a symmetric triangle pattern containing price movement from 2018.

Together with TRON’s stablecoin supremacy, this breakout has caused experts to estimate near term objectives of $0.28-$0.30 with potential for $1 should momentum keep up.

Coming in at no.1 for collecting blockchain fees, TRON exceeded Ethereum ($1.3 billion), Solana ($1 billion), and Bitcoin ($411.2 million) collecting $2.8 billion—48% market share according to Token Terminal.

Highlighting the strength of the TRON ecosystem further, the network supports over 3 million daily active accounts out of its 300 million total wallets processing over $10 billion in daily transfer volume.

With 2.66 million TRX addresses holding tokens for more than one year, retail confidence remains strong despite most wallets holding relatively low amounts indicating consistent user engagement.

Despite strong numbers, critics highlight TRON’s overwhelming reliance on USDT transactions. While daily active wallets exceed 3 million, the majority of them engage in USDT transactions, rendering the network vulnerable to changes in the TRON-Tether relationship.

Moreover, the network lags behind its competitors in meme coin activity, DEX trade volume, and real-world asset integration. However, TRON continues to make technical advancements; recently, it introduced its Kant mainnet upgrade, offering improvements in API security and speed.

As the U.S. Treasury Department predicts the stablecoin market to reach $2 trillion by 2028, if TRON manages to effectively diversify its transaction volume beyond USDT, it will be well-positioned for further expansion in the years to come.