TRON (TRX) experienced a notable spike in market activity, resulting in the company making headlines. In November 2024, TRON achieved a staggering $587 billion in USDT remittances, an increase of 30% month-on-month.
This impressive expansion highlights TRON’s position as the premier blockchain platform for stablecoin trading, characterized by fast transaction speeds and low fees. TRON’s deflationary model and the growing popularity of stablecoins could pave the way for even more significant price increases as the crypto market continues to develop.
TRON USDT remittance volume reaches record high of $587.2 billion (monthly)
“Due to strong interest in cryptocurrencies in recent months, stablecoins have experienced impressive growth. TRON has emerged as the leading blockchain for stablecoin transfers.
This graph highlights… pic.twitter.com/150KEggTlK
— CryptoQuant.com (@cryptoquant_com) December 14, 2024
Further growth and technical analysis
Currently trading at $0.279, TRON is showing strong upward momentum following a reversal from the support level around $0.2400, as shown by recent technical analysis. Analysts expect the price to break above the subsequent resistance level at $0.3200, which had previously hampered price gains in early December.
The current positive attitude of the cryptocurrency market supports this point of view, as it suggests that TRON may continue its upward trajectory. Given that TRON's market capitalization currently exceeds $35 billion, its rapid expansion is likely to see capital move to established cryptocurrencies as investors seek stability in the face of market volatility. reflects a more general trend.
Experts predict a promising future
Cryptocurrency expert Andrew Griffiths believes that TRON could reach $3 to $5 soon. He attributes this growth to the network's popularity as a stablecoin and payment tool. The growing demand for USDT could help TRON become a bigger player in the cryptocurrency world.
#TRX TRON is heading for the top, if compressed at that level it will explode, this will happen sooner or later, probably in the next few months, the target is 3-5 USD, with a fucked up deflationary model and a payout It is the fastest blockchain for processing, nothing… pic.twitter.com/b0xhgqhABT
— Andrew Griffiths (@AndrewGriUK) December 13, 2024
TRON's recent performance has been attracting attention. It has become popular among investors seeking stable returns. This is an attractive option for developers designing decentralized applications (dApps) due to its robust infrastructure that enables thousands of transactions per second.
Additionally, TRON is expected to maintain its upward trajectory amid continued advancements in the crypto sector, including technology upgrades and partnerships.
The road ahead
TRX recently hit an all-time high of $0.45, doubling its valuation overnight and taking its market value to $39 billion. Founder Justin Sun's $30 million strategic investment in World Liberty Financial has improved the company's trajectory, and TRON is now a major player in the blockchain scene.
Featured image from Fast Company, chart from TradingView
