TRX Price Up As Tron Rolls Out The Red Carpet For Trump-Backed Stablecoin

NewsBTC
Updated
Mitrade
coverImg
Source: DepositPhotos

Tron’s blockchain just added a USD1 stablecoin from World Liberty Financial Inc. That move put the spotlight back on TRX. And traders are paying attention to what comes next.

Significant Price Movement

According to trading data, TRX climbed 6% on Tuesday. It broke above the $0.2875 level on the daily chart before hitting resistance at $0.2980.

A clean break past that hurdle could send the token toward $0.3230, the 50% Fibonacci retracement level. Currently, TRX trades around $0.2920, sitting between support at $0.2808 and the 23.6% Fib mark of $0.2645.

High-Profile Stablecoin Launch

Based on reports from World Liberty Financial Inc., the new USD1 stablecoin is now live on Tron. The issuer has ties to US President Donald Trump, and Justin Sun—Tron’s founder and the largest holder of the Trump Token meme coin—called the launch a “giant leap for stablecoins.”

Sun also joined a White House dinner for top Trump Token holders. This link to big names has drawn fresh eyes to Tron’s ecosystem.

On-Chain Growth Signals

According to DeFiLlama, the total value locked on Tron reached over $5 billion. On June 6, the network saw 4.50 million returning user addresses. Those stats suggest people keep coming back to DeFi apps on Tron, but it’s worth watching whether those funds stay in place or chase higher yields on other chains.

Bullish Bets in Derivatives

Based on CoinGlass data, TRX derivatives open interest rose by 8.25% over the past 24 hours to $329 million. The weighted funding rate open interest rose to 0.0098%, indicative that bullish long positions are greater than shorts. Short liquidations in the past day were almost double that of longs, which settled a bearish bet wave.

Technical analysis supports this positive perspective. The RSI on the daily chart is inching up to the overbought region, indicating heightened buying pressure. A recent MACD crossover drove histogram bars into positive territory, which means momentum has favored the buyers.

Meanwhile, traders will keep a close eye on Bitcoin’s moves too. A pullback there could drag altcoins lower, while a fresh rally could lift TRX even more. For now, the combination of a big-name stablecoin launch, rising TVL, swelling open interest and positive technical signals gives Tron fans reason to watch for a potential breakout.

Featured image from Getty Images, chart from TradingView

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Gold price drifts lower as reduced Fed rate cut bets offset trade jittersGold price (XAU/USD) struggles to capitalize on the previous day's goodish rebound from a one-week low – levels just below the $3,300 mark – and trades with a mild negative bias during the Asian session on Tuesday.
Author  FXStreet
7 Month 08 Day Tue
Gold price (XAU/USD) struggles to capitalize on the previous day's goodish rebound from a one-week low – levels just below the $3,300 mark – and trades with a mild negative bias during the Asian session on Tuesday.
placeholder
Tron Price Forecast: TRX handles over $21 billion in weekly USDT transfers, surpassing EthereumTron (TRX) is hovering around $0.287 at the time of writing on Tuesday after rising nearly 4% the previous week. The TRX network has processed over 13 billion transactions and handles more than $21 billion in USDT transfers each week, surpassing Ethereum (ETH).
Author  FXStreet
7 Month 08 Day Tue
Tron (TRX) is hovering around $0.287 at the time of writing on Tuesday after rising nearly 4% the previous week. The TRX network has processed over 13 billion transactions and handles more than $21 billion in USDT transfers each week, surpassing Ethereum (ETH).
placeholder
BNB Price Gears Up for Upside Break — Will Bulls Deliver?BNB price is gaining pace above the $650 support zone. The price is now showing positive signs and might aim for more gains in the near term. BNB price is attempting to recover from the $620 support
Author  NewsBTC
7 Month 08 Day Tue
BNB price is gaining pace above the $650 support zone. The price is now showing positive signs and might aim for more gains in the near term. BNB price is attempting to recover from the $620 support
placeholder
Dogecoin Resistance Walls Ahead: Analyst Flags 3 Key LevelsAn analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based on on-chain data. Dogecoin URPD Shows These Price Levels Stand Out In a new post on X,
Author  NewsBTC
7 Month 08 Day Tue
An analyst has pointed out three key resistance levels for Dogecoin that could be to keep an eye on, based on on-chain data. Dogecoin URPD Shows These Price Levels Stand Out In a new post on X,
placeholder
Crypto Gainers Today: XDC, AB, BONK tokens hold momentum as Bitcoin slips under $108,000The momentum among the top altcoins in the cryptocurrency market is declining as Bitcoin (BTC) slips below $108,000, following the announcement by US President Donald Trump of an extension in tariff deadlines to August 1.
Author  FXStreet
7 Month 08 Day Tue
The momentum among the top altcoins in the cryptocurrency market is declining as Bitcoin (BTC) slips below $108,000, following the announcement by US President Donald Trump of an extension in tariff deadlines to August 1.
Real-time Quote