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Despite ongoing consolidation across the broader crypto market, Tron (TRX) has managed to maintain a steady upward trajectory. The token has recorded a 2.6% increase over the past two weeks and is currently trading at $0.2495, reflecting a 0.7% uptick in the last 24 hours.
This relative strength comes at a time when several major altcoins are experiencing muted price action. Tron’s stability amid broader volatility has drawn the attention of market participants analyzing on-chain dynamics for insight into potential future moves.
Tron On-Chain Trends Suggest Network Consolidation
According to a recent analysis by CryptoQuant contributor BorisVest, the Tron network is currently signaling an accumulation phase. In a report titled “Tron Network Signals Accumulation Phase Amid Decreased Activity,” the analyst outlines a number of on-chain indicators that support this conclusion.
Most notably, the number of new wallets and transaction fees on the network has declined, pointing to a cooldown in network activity. However, rather than indicating weakness, BorisVest interprets this as a pause in active participation as the network consolidates.
BorisVest notes that the Tron network experienced a spike in complex transactions and gas usage during its recent highs. However, both average and maximum gas usage have since fallen, suggesting a slowdown in usage intensity.
Additionally, despite occasional price surges, the number of new wallet addresses has remained either flat or in decline. This trend implies limited retail or organic growth during the current market phase.
Historically, such patterns of stagnation in user growth and fee activity have often preceded stronger market moves, according to the analyst. The decline in wallet creation and overall gas usage may signal a broader accumulation pattern across the Tron ecosystem.
Fewer participants transacting on-chain and a lack of significant new user onboarding typically coincide with phases where existing holders increase their positions quietly. If historical cycles are any indication, this period of reduced activity could eventually give way to renewed momentum once investor confidence returns.
USDT Activity Paints a Different Picture
In contrast to the slowing activity suggested by wallet creation and gas fees, stablecoin usage on the Tron blockchain continues to show notable growth. CryptoQuant analyst Darkfost highlighted that the amount of Tether (USDT) circulating on Tron has reached a new all-time high, now surpassing $71 billion.
This figure places Tron just behind Ethereum, which currently hosts around $75 billion in USDT. The increasing stablecoin supply indicates strong demand for value transfer and settlement use cases on the network.
Darkfost also emphasized that Tron’s low transaction costs make it an attractive platform for stablecoin users. As more liquidity flows into the Tron ecosystem via USDT, the network’s role in decentralized finance (DeFi) continues to expand.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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