Justin Sun’s Tron token is in a tight range as the ongoing crypto sell-off continues, with Bitcoin falling below $60,000.

Tron (TRX) was trading at $0.1542, just a few points below its highest level this week. According to CoinGecko, it is the ninth-biggest cryptocurrency with a market cap of $13.3 billion.

TRX has outperformed other top ten cryptocurrencies in the last seven days as it rose by 0.97%. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have retreated by 6.2%, 10.6%, and 10.5% in the same period.

Tron’s ecosystem is not doing well, with most meme coins in the recently launched SunPump ecosystem falling by double-digits. Sundog (SUNDOG), the biggest token in the ecosystem, has dropped by nearly 30% in the last seven days.

Similarly, Tron Bull Coin, Muncat, Suncat, and Vikita have fallen by more than 30% in the same period. The only SunPump meme coins doing well were Tron Bull and Tron Beer, which have jumped by over 16% and 40%. 

Other parts of the Tron ecosystem are not doing well. For example, the total value locked in its DeFi ecosystem has dropped by 6.8% in the last 30 days to $7.6 billion, making it the second-biggest network after Ethereum. 

Tron’s DEX volume has also moved to $425 million, making it the 9th biggest player in the industry. It has been passed by newer chains like Sui and Base, which handled $700 million and $4.5 billion in the last seven days. 

Still, Tron has many positives. It has become the market leader in the stablecoin payment industry. Data by TronScan shows that its Tether transactions rose by 9.75% on Oct. 2 to $70 billion. 

Tron is also the most profitable chains in the crypto industry, with over $1.37 billion in fees this year. Its third-quarter revenue rose to $577 million, higher than Bitcoin and Ethereum.

Tron price has stalled

Tron rose to a record high of $0.1690 on Aug. 26, and has dropped by 8.83%. It has remained above the 50-day and 25-day Exponential Moving Averages, meaning that bulls are in control for now.

However, signs indicate that it has formed a bearish flag chart pattern, a popular risky sign. If this pattern works out, Tron will likely slip to the key support at $0.1450, the highest swing in February this year.

Tron price held steady on Saturday, Sep. 21 as most SunPump tokens retreated.

Tron (TRX) rose to $0.1520, a few points above this week’s low of $0.1467, and 11% below its highest point this year.

SunPump tokens crash

Data by CoinGecko shows that most SunPump meme coins have retreated in the past few days.

• Sundog (SUNDOG), the biggest coin in its ecosystem, has dropped by 11.1% in the past seven days to $0.30, bringing its market cap to $305 million.
• Tron Bull retreated by 8%
• Muncat, 35%,
• SunWukong, 10%,
• Suncat tokens, 37% in the same period.

Altogether, the total market cap of all meme coins in Tron’s ecosystem has dropped from over $560 million to $514 million.

This performance has affected Tron’s DEX volume, which has dropped by 10% in the last seven days to $453.6 million. Other chains like Solana (SOL), Binance Chain, and Sui have seen their DEX volumes jump by 11%, 22%, and 70% in this period. 

On the positive side, the number of transactions in Tron has risen, according to Nansen. These transactions rose to over 8.2 million on Saturday, its highest point since Aug. 27 and much higher than this month’s low of 6.14 million.

Tron is also one of the most profitable networks in the crypto industry.

Data by TokenTerminal shows that its network fees this year stand at over $1.2 billion, second only to Ethereum’s $1.86 billion.

SunPump tokens have generated over $44.8 million in fees since inception.

Another positive is that Tron’s staking yield has bounced back to 4.97%, higher than last month’s low of 4.35%. This rebound happened as the volume of Tron burn and gas fees rose during the month.

Tron’s technicals are supportive

Technically, Tron has some encouraging metrics. It formed a double-bottom pattern at $0.1466 between August and September. This bottom was a few points above the key support at $0.1455, its highest swing in February this year.

Tron has also held steady above the 50-day moving average while the Relative Strength Index has risen above 50. That is a sign that it may continue rising as bulls target the year-to-date high of $0.1690.

Justin Sun’s cryptocurrencies, such as Sun Token and BitTorrent, were some of the best performers on Aug. 21, as investors cheered the ecosystem’s growth. 

Sun Token and BitTorrent tokens are soaring

Sun Token (SUN) rose by over 50% to a high of $0.0196, its highest level since 2022, and 143% above its lowest point this month. This rally has pushed its market cap to over $182 million. 

BitTorrent (BTT) jumped by over 25%, reaching a high of $0.0000010, its highest point since June. Other top tokens in the ecosystem, like Tron (TRX) and Just (JST), rose by double digits. 

The rally happened as the ecosystem continued receiving positive news. Last week, Justin Sun launched the SunPump platform, which has led to the creation of many meme coins already. Data by DefiLlama shows that SunPump has already accumulated over $1.5 million in assets. 

If the platform succeeds, Justin Sun will likely make millions. Pump.fun, the pioneer meme coin generator, has already generated almost $100 million in revenues. 

Tron has become a major part of the blockchain industry

Tron has also become one of the most successful blockchains in the industry. Data shows it has over 2.36 million active addresses, higher than Ethereum’s 335,000 and Solana’s 1.23 million. 

Tron also has a market cap of over $59.54 billion for stablecoins. Because of their stability, stablecoins have become essential in global transactions. Data by Tronscan shows that Tron has over 49 million stablecoin holders and handled a trading volume of over $46 billion on Aug. 21. Tron has also reportedly generated over $1.05 billion in fees this year.

Sun Token also jumped because of its ecosystem growth. Its platform has a total value locked of $750 million, its highest point since 2022. In TRX terms, the TVL jumped to over $4.6 billion. 

BitTorrent’s ecosystem is similarly thriving. The number of BitTorrent File System weekly miners rose to over 8 million. At the same time, the total storage contracts jumped to 168 million, making the BTFS one of the most prominent storage solutions in the blockchain industry.

SUN and BTT tokens rallied even as Bitcoin and other cryptocurrencies wavered. Bitcoin has been stuck at $59,000 in the past two weeks while the total crypto market cap dropped by 2.6% to $2.19 trillion.