TRON’s TRX token is currently trading at $0.2490, buoyed by rising Tether (USDT) circulation of $71.4 billion, putting it close to Ethereum’s $72.8 billion. A security breach earlier resulted in $45,000 lost but TRON’s ecosystem is robust with over 3 million daily accounts. Analysts predict potential price targets of $0.28-$0.30, while criticism over reliance on USDT transactions lingers amid promising technical indicators and a growing network.
TRON is holding its ground in the crypto market, with its TRX token currently trading around $0.2490, keeping steady above the crucial $0.24 mark after a month of solid gains. This stability is noteworthy, especially following a recent security issue where $45,000 was lost due to a hacking incident. Nevertheless, TRON’s overall ecosystem remains robust, with over 3 million active daily accounts and significant contributions to blockchain fees.
One of TRON’s major strengths boils down to the increasing circulation of Tether (USDT), which recently hit $71.4 billion, bringing it closer to Ethereum’s $72.8 billion. This surge in USDT circulation followed a minting event in May where Tether introduced another $1 billion on TRON. Interestingly, TRON is currently responsible for about 28% of all active stablecoin wallet addresses, indicating a strong foothold in the market.
Despite the positive trends, TRON did face some bumps along the way, like the aforementioned security breach on May 2, which the team described as a malicious social engineering attack. Thankfully, the security team acted quickly to contain the situation, restoring access before more damage could be inflicted. While some drama unfolded between TRON founder Justin Sun and OKX CEO Star Xu regarding the incident, it appears that TRON is moving past it.
Looking at TRX price movements, the token has seen a solid performance—a 4.2% rise in the last month, 55.5% in half a year, and an impressive 102.75% year-on-year. The technical indicators seem bright as well, suggesting a strong buy opportunity. Analysts predict that if this bullish momentum continues, TRX could potentially reach between $0.28 and $0.30 in the near future.
TRON’s network is quite impressive, with daily transactions exceeding $10 billion and over 300 million total wallets. In terms of blockchain fees, TRON leads the way, having collected $2.8 billion, marking a 48% share of the market. Notably, there are around 2.66 million TRX addresses that have held tokens for over a year—this demonstrates ongoing retail confidence, although many wallets show relatively low balances.
However, there are challenges. Critics highlight that TRON’s heavy reliance on USDT transactions could pose a risk if market dynamics shift. Although it has a thriving user base with more than 3 million active wallets, many solely engage in USDT transactions, which could make the network vulnerable. Additionally, compared to its competitors, TRON still lags in areas such as meme coin trades and decentralized exchange activity.
That said, TRON is not stagnant; it recently launched its Kant mainnet upgrade aimed at enhancing API security and increasing transaction speeds. The U.S. Treasury Department projects the stablecoin market could soar to $2 trillion by 2028. So, if TRON successfully diversifies beyond its current USDT-heavy model, it may well lay a strong foundation for future growth in the evolving crypto landscape.
