tron’s Profitability Surges Despite Price Stagnation
Tron’s (TRX) price has been stuck between $0.2210 and $0.2595. Despite this, its fees have increased substantially. the token is currently valued at $0.2430, with a market cap of $23 billion, ranking it ninth in the crypto market.
Tron has generated over $985 million in revenue this year, placing it second only to tether (USDT). This notable feat makes it more profitable than Ethereum (ETH) and Solana (SOL),which earned $388 million and $234 million,respectively.The network’s success stems from its stablecoin transactions, especially Tether (USDT). On a recent Friday, it processed $33 billion in Tether transactions, with 2.1 million transfers and nearly 1 million transfer accounts. This growth highlights its dominance in the stablecoin sector.
Tron’s profitability is soaring. It’s now the second most lucrative blockchain, according to TokenTerminal data. Its fees come mainly from stablecoin dealings. Tronscan data reveals it’s the top Tether processor. The network’s decentralized finance (DeFi) sector is now the second most profitable blockchain, according to TokenTerminal data.Its fees come mainly from stablecoin dealings. Tronscan data reveals it’s the top Tether processor. The network’s decentralized finance (DeFi) sector is also growing. DeFi Llama data shows that the volume of tokens handled on the tron blockchain rose by 20% in the last seven days to over $1.06 billion. It has handled over $3.45 billion in the last 30 days, making it one of the biggest chains in crypto.
Tron’s price has remained in a tight range in the past few months. It has remained between the support at $0.2165 and the resistance at $0.25.Tron has moved above the 50-day moving average and formed a bullish divergence as the MACD and the Relative Strength Index have continued rising. Therefore, the token will likely have a bullish breakout as its fundamentals strengthen. If the price rises above the upper side of the channel at $0.2585, more gains will be confirmed.A move above that level will indicate more gains.The next point to watch is $0.3085, which had its highest swing on Dec. 16. A drop below the support at $0.2165 will invalidate the bullish forecast.
