- TRON is catching up to Ethereum with 1.8 million USDT token holders on its blockchain.
- The TRON blockchain has become a viable option for people due to the high transaction fees on Ethereum.
Unlike regular cryptocurrencies, stablecoins give users all the benefits of blockchain technology, but with a safe, non-volatile asset. TRON’s blockchain is at the forefront of this trend, hosting over $8.5 billion USDT on its platform. Considering there is $37.5 billion stored within the entirety of the stablecoin ecosystem, TRON’s growing user base of 1.8 million is a significant contributor to widespread stablecoin adoption.
The rise and rise of stables
Countries all over the world are faced with social, political, and economic turmoil that has rendered their banking systems useless to a majority of the citizenry. From Myanmar to Lebanon, people have had to wait hours or sometimes days in line to try and withdraw their savings, only to learn it’s no longer possible. With many looking for a new system but weary of holding their savings in volatile assets like Bitcoin, stablecoins become a viable option. Tokens like USDT, which are one-to-one pegged to the US dollar, can provide a savings mechanism to anyone with internet access, returning the monetary power held by governments back to the people.
There are about 35 established stablecoins to choose from with various asset backings. USDT has established itself as the king, with almost half of the total stablecoin value stored within its network. Tether is also the most used cryptocurrency by daily trading volume, regularly facilitating over $100 billion in volume, significantly higher than even Bitcoin or Ether. USDT is an essential tool that enables people to protect and store their value, and is also used for routing capital between exchanges and crypto on- and off-ramps.
USDT runs on the Ethereum blockchain and has 2.4 million token holders, making TRON’s 1.8 million USDT token holders an impressive amount. When considering the disparity in market capitalization between the two platforms, the close proximity in USDT users on both networks shows the scaling capabilities that TRON can enable. Ethereum has a $190 billion market cap compared to TRON’s almost $2.5 billion, yet TRON has 75 percent of the USDT holders that are on Ethereum.
With users feeling the full force of high transaction fees on Ethereum, TRON has become a more viable option for people who want to store and send their USDT regularly. Ethereum’s congested blocks and spiraling fees point to why more users are fleeing to platforms like TRON that are better equipped to support high transaction volume.
Moon Stake is now the Super Partner of TRON (TRX)
The total accounts on TRON has exceeded 56 million. According to TRONSCAN, TRON total accounts have reached 56,849,293. TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.
Community response: Less accounts but a higher price of TRON is what we need. The price of TRX dropped below 0.1$. Wish they burn some TRX or convey some benefits to users.
Other news: Moon Stake is the Super Partner of TRON. Users will be able to stake TRX to earn rewards on Moonstake Web and mobile wallets. The integration is made possible through strategic partnership with the TRON Foundation.
Moonstake was established to develop a staking pool protocol to satisfy increasing demands of investors and businesses in regional and global blockchain markets. They aim to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. They are offering staking pool and node solution and enterprise wallet solution.
They offer Staking Pool as a Service. Moonstake with their in-depth experience in developing and managing staking pool nodes in different project protocols, are currently having multi-millions worth of digital asset staked with them. They are confident of being able to provide Staking as a Service through their proprietary SDK and API connection. The SDK approach permits institutions to plug easily and securely to their platform and stake only when required, while keeping it offline when digital assets are not moved.
They offer Node as a Service development for institutions who want to create their own project staking pools. Through their expert development team, institutions will be able to focus on their business strategy and growth, while leaving the technical development and maintenance of the staking pool nodes to Moon Stake. Users will enjoy transparency and stability of yield returns on the POS coins while the specialists cover all the security and maintenance required.
Institutions choose Moon Stake as their staking solution provider because clients are always in control of their funds. They are able to participate in the numerous projects staking pool nodes easily in a secure manner.
The staking pool from Moon Stake facilitates optimal yield options. They also have working relationships with projects and communities, which support consistency and real-time updates.
With a clear understanding of the requirements of leading institutional fund managers and financial controllers which choose Mook Stake, they provide full detailed reporting with clear breakdowns, including multi-assets financial details and staking transactions. They also offer enterprise wallet solution and node as a service. Seamless onboarding, full control, flexible administration and permission levels, robust functions and features have all made Moon Stakes interesting for institutions.
Tron price analysis: TRX rallies above $0.104 after piercing through resistance
- The bullish trend has lifted price to $0.104.
- Bulls have been maintaining the control.
- Support is at $0.082 as per Tron price analysis.
The Tron price analysis shows the bullish momentum has been intensifying over the past few days, and the uptrend has been quite permanent. The TRX/USD price has been able to cross the resistance present at $0.103 as well because of the upsurge. A crossover between SMA 20 and SMA 50 has resulted in a massive-scale improvement in price. The price is currently at $0.104 and is expected to grow even further.
TRX/USD 1-day price chart: Bullish momentum succeeds in elevating price to $0.104 level
The one-day Tron price analysis is confirming an uptrend, as the price has been rising consistently since the past week. The progression has been quite noteworthy as the price has been able to break past the resistance level as well. The price has taken a momentary stop at $0.104 and is expected that it will jump to further heights soon. The moving average (MA) value is at a lower level and is standing at $0.096.
The volatility has increased slightly which indicates that the price might experience a drop ahead. The upper and lower values of the Bollinger bands Indicator have changed as such; the upper value is now at $0.103 while the lower one is at $0.082. The Relative Strength Index (RSI) indicator is showing its score at 60.
Tron price analysis: Bullish trend accelerates price movement above $0.104
The four hours Tron price analysis is predicting an uptrend for the cryptocurrency as the price has been progressing rapidly. TRON’s price is now settled at $0.104 and there is a high chance that it will move forward in the approaching hours. The improvement in coin value has been surprising and it seems that the buyers are inclined towards keeping the price high. Moreover, if we discuss the moving average value, then it is currently standing at $0.099.
As the volatility has increased substantially, the Bollinger bands are now keeping their average at $0.097. Whereas, the upper and lower Bollinger band values have moved to the following levels; the upper value to $0.102 and the lower one to $0.091. The RSI score has crossed the over-bought mark to reach 74.5 as well.
The overall progress of TRON/USD price has been appreciable as can be confirmed from the technical indicators chart. There is a bullish indication for the day with 16 indicators present on the buying position, 10 indicators on the neutral position, and zero indicators on the selling one.
The moving averages indicator is supporting the buyers as well with a strong bullish signal. There are 14 indicators standing on the buying point, one indicator on the neutral point with none present on the selling point. The Oscillators are showing signs of bullish trend as well while keeping nine indicators on the neutral position, two on the buying position, and zero on the selling one.
Tron price analysis conclusion
The above one day and four hours Tron price analysis is predicting a rise in price as a constant uptrend has been following for a week. The price has pervaded through the resistance levels as well and has joined the $0.104 position. Further increase in price is possible if the support at $0.082 remains steady at its position.
Tron price analysis: TRX building momentum but keeps shy of $0.105 resistance
- Tron price goes well clear of 20 and 50-day moving averages
- Price rose again after a minor setback yesterday and continues to test $0.105 resistance
- Bullish trend set to continue over the short-term
Tron price analysis confirms another positive day for the token, as price came back from a minor decline yesterday to go back up to $0.095 on the intra-day trade. TRX stays well clear of resistance point at $0.105, but continues to consolidate momentum to find a way past the illusive $0.1 mark. Trading volume also went up around 1 percent for the token, as it creates buyer interest after making the BTTC announcement in September. The coin is set to continue consolidation of buyer interest over the next few days, and attempt to go past the $0.1 mark.
The larger cryptocurrency market showed trends similar to Tron, exhibiting minor increments on the day trade. Bitcoin rose up to $49,000 after a 2.5 percent increment, whereas Ethereum sits just below $3,500 with a 1 percent rise. Among Altcoins, Cardano and Dogecoin made minor jumps to sit at $2.29 and $0.219, respectively, while Ripple rose almost 4 percent to consolidate above $1.
TRX/USD 24-hour chart: Bullish Hammer pattern forms as price continues to grow
On the 24-hour chart for Tron price analysis, a Bullish Hammer pattern can be seen forming after yesterday’s price action turned into the reds, only for buyers to come in late into the market and re-initiate the positive run. Price went as low as $0.092, to be reversed up to $0.096 today, recording a weekly high for TRX. Price can also be seen moving clear of the 20 and 50-day simple moving averages (SMAs), showing real promise in the current run. The Relative Strength Index (RSI) shows a strong value of 52 as well, suggesting there is adequate buying market for the token in current trend, with room for more.
TRX/USD 4-hour chart: Positive trend reflects with a healthy RSI
The 4-hour chart for TRX/USD pair also shows healthy signs for the token. Price has cleared the 20-day exponential moving average (EMA) and is looking ahead to the $0.1 mark. The RSI value of 62 presents a healthy valuation for TRX, suggesting there is just about the right buying interest. Over the next 4 hours, price is expected to resist any major change, but a change in trend may take place if the RSI continues to rise and sellers take advantage.
Tron price analysis: Conclusion
Tron price continues to rise steadily, coming back up after a slight decline yesterday. The resistance point at $0.105 seems a farfetched goal for now, but with gaining momentum and consolidation above the 50-day EMA at $0.096, the token is set to continue the current trend a bit longer. Buyers will look to consolidate price at this point before initiating the next assault, whereas any movement below $0.090 could invalidate the bullish thesis.