{"id":338,"date":"2024-09-27T00:31:47","date_gmt":"2024-09-27T00:31:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=338"},"modified":"2024-09-27T00:31:47","modified_gmt":"2024-09-27T00:31:47","slug":"tron-processes-nearly-100-billion-in-trading-volume-last-week-trx-ready-for-new-all-time-high","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=338","title":{"rendered":"Tron Processes Nearly $100 Billion In Trading Volume Last Week, TRX Ready For New All-Time High?"},"content":{"rendered":"
\n

TRX, the native currency of the Tron network, is steady at press time and trending at around all-time highs. After the explosion in Q3 204, the uptrend remains, and buyers are confident that there will be more gains in the coming days. <\/p>\n

Tron Settles Nearly $100 Billion In On-Chain Volume <\/h2>\n

The outlook is partly thanks to growing on-chain activity and shifts in crypto market sentiment after changes to monetary policy in the United States.<\/p>\n

According to IntoTheBlock data<\/a>, the Tron network settled nearly $100 billion in on-chain volume in the past week. The spike in on-chain volume, the blockchain analytic platform observes, is due to rising on-chain activity.\u00a0\u00a0<\/p>\n

With the blockchain processing over $98 billion in trading volume in seven days, IntoTheBlock data shows that Tether (USDT) transfers dominated. According to TronScan<\/a>, Tron manages over $61 billion of USDT.<\/p>\n

\"Tron<\/p>\n

Notably, over 50% of all USDT transfers are initiated from Tron, which is relatively cheaper and more scalable than Ethereum. Even with the rise of Ethereum layer-2 solutions<\/a>, USDT on Tron dominates and is preferred.<\/p>\n

Combining IntoTheBlock data also reveals that TRX transfers are next, comprising 2.6% of all on-chain volume over the last week. Other TRC-20 tokens in the top five include SUN, BitTorrent, and JUST. These are tokens that prime some of the top DeFi protocols on Tron.<\/p>\n

Meme Coin Activity To Drive TRX Higher?<\/h2>\n

Interestingly, though meme coin activity is picking up momentum after the launch of SunPump in mid-August, none of these meme coin tokens broke into the top five. On August 13, Justin Sun, the co-founder of Tron, launched SunPump, fueling a meme coin frenzy. <\/p>\n

Dune Analytics data reveals<\/a> that SunPump has generated over $5.3 million in revenue as over 86,400 meme coins have been launched through the meme coin launchpad. Currently, over 1,640 SunPump tokens have been listed on Sunswap.<\/p>\n

\"SunPump<\/p>\n

Although the meme coin mania has fizzled, TRX and SunDog\u2013a top meme coin released from SunPump\u2013have benefited. As of September 26, SunDog is firm, up by over 720% from August 2024 lows, according to Coingecko<\/a>. <\/p>\n

\"Tron<\/a><\/p>\n

From the chart, TRX is roughly 10% down from all-time highs. Despite the contraction over the past few trading weeks, the uptrend remains. A break above $0.15 and the bull flag, clear in the daily chart, could build the momentum for a leg up above August 2024 highs.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

TRX, the native currency of the Tron network, is steady at press time and trending at around all-time highs. After the explosion in Q3 204, the uptrend remains, and buyers are confident that there will be more gains in the coming days. Tron Settles Nearly $100 Billion In On-Chain Volume The outlook is partly thanks […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-338","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=338"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/338\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}