TRON (TRX) is once again in the spotlight not for hype or speculation, but for an explosion of genuine, on-chain usage that's beating nearly every other blockchain. During the first week of June, TRON's daily active addresses reached an all-time peak, with the 50-day and 100-day moving averages of this statistic reaching new highs. At the same time, the network's USDT transaction volumes have exceeded even Ethereum to establish TRON as the world's top platform for stablecoin transfers. Transactions, Revenue, and USDT Transfers The numbers are staggering. TRON shattered a record in May alone with $121.2 billion in monthly transfer volume, moving over 490 billion TRX on the network. USDT on TRON now constitutes $71 billion in circulating supply — 47% of Tether's market cap narrowing the gap with Ethereum's $74.5 billion. TRON also leads the weekly fee income among blockchains with $13.3 million, surpassing Solana and Ethereum. Protocol revenue hit an all-time high of $343 million in May, driven by genuine user activity rather than speculative trading. ”TRX reached a new ATH in overall transfer volume, both in TRX value and USD value. During the month, a total of 490.3 billion TRX was transferred.” — @cryptoquant_com The Price Paradox: Activity Soars, TRX Locks Up With these bullish fundamentals, though, price action of TRX has been stagnant. The token is broadly around $0.27, consolidating, and technicals like the MACD and Chaikin Money Flow are showing weak or neutral bearish momentum. Experts note that these kinds of divergences, where activity on the network has surpassed price is often the precursor to fantastic rallies in proof-of-stake chains. If TRX can overcome the psychological barrier of $0.30 resistance, Fibonacci extension targets around $0.3265 and even $0.43 become feasible upside. What's Driving the Boom? Whales, USDT, and Staking Upgrades TRON's boom is powered by a perfect storm: USDT supremacy: Consumers, especially in developing economies, are flocking to TRON for cheap, quick stablecoin transfers. Whale accumulation: On-chain metrics verify that large traders are consistently accumulating positions, betting on further upside. Staking upgrades: New staking protocols and raised validator rewards arrive later this summer, potentially boosting demand for TRX as users look for yield. Meanwhile, the SunPump token generation tool is seen as a short-term price indicator — high volumes often mean local highs, and slowing down may indicate accumulation phases. DeFi Metrics and Competitive Landscape TRON's Total Value Locked (TVL) has fluctuated, declining since December 2024 despite rising volume of transactions. Fee revenue remains high, but lower fees and higher volume of transactions on Solana are diverting some users. Still, TRON's stablecoin settlement dominance cannot be rivaled, and its rising number of long-term holders (now 2.66 million addresses) attest to confidence in the network's future. Analyst Outlook Crypto Twitter is abuzz with rumors of a TRX breakout. ”TRON's on-chain activity is off the charts. If price catches up, $0.30 is just the start,” said @CryptoOnchain44. Others warn that unless TVL and DeFi adoption levels return, price increases could be temporary. What's Next? With on-chain activity at record highs and USDT volume blowing up, everyone is waiting for TRX's next move — will fundamentals finally drive the breakout traders have been expecting?
