Tron, the network behind the TRX cryptocurrency, is doing really well right now. It’s almost at an all-time high, and people are expecting it to keep climbing.
Tron’s On-Chain Activity is Booming
A big reason for this optimism is the huge amount of activity happening on the Tron network. Last week alone, it processed almost $100 billion worth of transactions! This is partly due to the recent changes in US monetary policy, which have shifted the focus towards crypto.
Tether (USDT) is the biggest player on the Tron network, with over $61 billion managed by Tron. It’s super popular because it’s cheaper and faster to use than Ethereum. Even though Ethereum has some new, faster solutions, people still prefer USDT on Tron.
TRX transfers are the second most common on the network, and other popular tokens like SUN, BitTorrent, and JUST are also doing well. These tokens power some of the top DeFi platforms on Tron.
Meme Coins Could Push TRX Higher
Meme coins are getting more attention after the launch of SunPump in August. This new platform has already launched over 86,400 meme coins, generating over $5.3 million in revenue. While the meme coin craze has cooled down a bit, it’s helped both TRX and SunDog, a popular meme coin launched on SunPump. SunDog is up over 720% since August!
TRX is Poised for a Breakout
TRX is currently just a little bit below its all-time high. If it breaks through the $0.15 mark and the “bull flag” pattern on the daily chart, it could easily surpass its previous high and climb even higher.
