Lưu trữ cho từ khóa: TRON

Altcoin

Ethereum and TRON control 84% of stablecoin market, CoinGecko says

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Data gathered by CoinGecko reveals that Ethereum and TRON dominate the stablecoin market, holding a combined $144.4 billion, or 83.9%, of all stablecoins.

Blockchain networks Ethereum and TRON continue to dominate the stablecoin market, holding a combined share of nearly 84%, valued at $144.4 billion as of September.

According to estimates from crypto price aggregator CoinGecko, Ethereum leads with $84.6 billion, or 49.1% of the total stablecoin supply, while TRON follows closely with $59.8 billion, accounting for 34.8% of the market.

Total market cap of stablecoins by blockchain | Source: CoinGecko

Despite Ethereum’s stablecoin supply increasing by $17.2 billion in 2024, its market share declined due to the collapse of Terra’s stablecoin UST, the onset of the bear market, and the proliferation of layer 2 solutions during that time, the report reads.

TRON’s dominance stems from the strong demand for Tether (USDT), which constitutes 98.3% of the stablecoins on the network. However, its market share fell from 37.9% earlier in the year despite a 21.6% supply increase.

Stablecoins reshape global finance landscape

BNB Chain (formerly BNB Smart Chain), ranked third, has seen its share drop to 2.9% following regulatory challenges around Binance USD (BUSD), which reduced the chain’s stablecoin supply by 61% since May 2022. Meanwhile, emerging blockchains like Coinbase’s Base, which grew its stablecoin supply by 1,941.5% in 2024, are gaining ground, indicating a diversifying stablecoin landscape.

Adjusted stablecoin transaction volume settled by network, monthly | Source: Castle Island Ventures

Stablecoins are playing an increasingly central role in global finance, having settled $3.7 trillion in transactions in 2023 and projected to reach $5.28 trillion by the end of 2024. As crypto.news reported earlier, data gathered by Castle Island Ventures and Brevan Howard Digital revealed growing usage of stablecoins beyond exchange settlement, particularly in emerging markets where they are being used for savings, currency conversion, and yield generation.

Having surveyed over 2,540 crypto users across Nigeria, Indonesia, Turkey, Brazil, and India, researchers found that while trading crypto or non-fungible tokens remains the most popular use for stablecoins, non-crypto purposes are not far behind.

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Phân tích

TRX whale selloff cools down amid market correction

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Whales started taking profits over the weekend, but the bearish momentum seems to have cooled down.

According to data provided by IntoTheBlock, the TRON (TRX) large holders’ net outflow declined from 141 million to 8.8 million TRX on Sept. 15. The on-chain indicator shows that the asset’s whale selloff has significantly declined.

TRX price and whale net flows – Sept. 16 | Source: IntoTheBlock

Usually, declining whale activity would also mean lower price volatility.

On the other hand, the TRX exchange inflows have been constantly increasing. The token’s exchange net flows shifted from an outflow of 140 million TRX to a net inflow of 37 million TRX between Sept. 13 and 15. 

The movement could mean two things. First, retail traders might be aiming at profits. Second, small TRX holders might be wandering FUD due to the market-wide correction after a high amount of whale activity was seen over the past three days.

TRX is up by 1% in the past 24 hours and is trading at $0.148 at the time of writing. The asset’s market cap is sitting at $12.9 billion with a daily trading volume of $250 million.

Profit-taking wouldn’t be surprising for TRX holders at this point. Data from ITB shows that over 94% of the TRON holders are in profit and only 3.8%, that bought TRX at an average price of $0.156, are at a loss.

Per ITB, most of the on-chain signals are looking neutral for TRX. Consequently, a price consolidation below $0.15 would be expected unless this crucial psychological point is breached.

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Pháp Lý

TRON teams up with Chainalysis to monitor USDT transactions

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TRON, Tether, and TRM Labs have launched the T3 Financial Crime Unit to collaborate on combating illicit activity related to USDT on the TRON blockchain.

Blockchain network TRON, stablecoin issuer Tether, and a blockchain forensic firm TRM Labs have joined forces to form the T3 Financial Crime Unit, an alliance focused on curbing illicit activity tied to (USDT) on the TRON blockchain.

With the latest initiative, the T3 FCU aims to disrupt malicious activities by leveraging data, technology, and a deep collaboration with law enforcement. As of August, TRON hosts over 240 million user accounts and processes more than 8.4 billion transactions, per data from TRONScan.

However, the same features that make USDT on TRON appealing to legitimate users — low fees, stability, and ease of use — have also attracted terrorists, money launderers and scammers. Data from TRM Labs’ “Illicit Crypto Economy” report shows that USDT accounted for over $19 billion in illicit funds, surpassing other stablecoins.

TRM Labs noted that USDT has “cemented its position as the currency of choice for use by terrorist financing entities.” In comparison, USD Coin (USDC) only recorded $428.9 million in illicit volume. TRM Labs’ research also revealed that TRON facilitated 45% of all illicit crypto transactions in 2023, up from 41% the previous year. In contrast, Ethereum and Bitcoin accounted for 24% and 18%, respectively.

The T3 initiative has already proven effective, freezing over $12 million in USDT linked to scams such as blackmail and fraud schemes. So far, 11 victims have been identified, with more expected as investigations progress. Chris Janczewski, TRM’s head of global investigations, emphasized the importance of global collaboration, stating in a commentary to Forbes that the effort has involved agencies in the U.K., U.S., and Australia to disrupt illicit activities.

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Bitcoin

TRON revenue surged 46%, closing the gap with Ethereum

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TRON network’s revenue saw an impressive rise in August while Ethereum recorded a notable decrease.

According to data shared by Lookonchain, TRON’s (TRX) monthly revenue increased by 46.5% — rising from $41.9 million in July to $61.4 million in August. The network is second to Ethereum (ETH) with $62.6 million in revenue in August.

Data shows that Ethereum’s revenue plunged 33% from July’s $94 million mark. 

Per a crypto.news report, TRON’s daily revenue reached an all-time high of $5.33 million on Aug. 22 after surpassing Ethereum. This happened after the TRON-based meme coin platform SunPump, Pump.fun’s competitor, gained increased attention from investors and traders.

Data from Lookonchain shows that Solana (SOL) secured the third spot with a monthly revenue of $25.6 million. Notably, Solana’s income was almost cut in half in August — falling from $49.8 million.

Bitcoin (BTC) also recorded a 16.8% decrease in its monthly revenue — dropping from $24.9 million in July to $20.7 million in August. 

Per Lookonchain’s data, Binance Smart Chain’s monthly revenue increased by 6.6% — growing from $10.5 million in July to $11.2 million last month. 

According to data from crypto.news’ price page, TRX is the only token from the list to register a price surge over the past 30 days, marking a 22% rise. BTC and ETH declined by 4.4% and 16% in the past month.

TRX 1D chart – Sept. 3 | Source: crypto.news

Binance Coin (BNB) and SOL witnessed 2% and 6.3% drops over the past month.

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Theo Crypto News

Phân tích

Tron price retreats as ecosystem growth, open interest falls

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Tron price has retreated over the past eight days as recent momentum in the ecosystem began to fade.

Tron (TRX) was trading at $0.1565 on Monday, Sep. 2, down by over 7% from its highest point this year. This retreat has brought its market cap to over $13.5 billion.

Tron’s key metrics are falling

Still, Tron has been one of the best-performing major coins in recent weeks, having jumped by over 44% from its lowest level in August. It also reached a record high of $0.1690.

The token performed well following several major events during the month. The most notable was the launch of SunPump, the network’s meme coin generator. In less than three weeks, thousands of memes have been created, generating almost $50 million in fees. All meme coins in the ecosystem have a market cap of over $493 million. 

Recently, however, there are signs that the Tron ecosystem is losing momentum. For example, Sundog (SUNDOG), the biggest meme coin in the ecosystem, has dropped by over 24% from its highest level in August.

Other tokens like Suncat, SunWukong, FoFar, and Dragon Sun have also dropped by over 50% in the last seven days.

Additional data shows that Tron’s total value locked in its decentralized exchange network has dropped by 8% in the past seven days to over $8.1 billion. The volume of tokens traded in Tron’s decentralized exchanges has fallen by over 21% in the last seven days. 

Meanwhile, Tron’s open interest in the futures market has also continued falling. It moved to over $141 million on Sep. 2, down from August’s high of $234 million.

Still, Tron is one of the most popular blockchains in the industry. Its network has brought in over $1.1 billion in revenues this year, making it the second most profitable blockchains in the industry. It also has over $59 billion in stablecoins and 2.24 million active addresses. 

Tron price rally has eased

Tron price chart | Source: TradingView

Tron has been in an uptrend since bottoming in 2021, making it less correlated with Bitcoin (BTC) compared to other coins. It jumped to a record high of $0.1690 last month and has now retreated to $0.155.

Tron remains above the 50-day and 200-day Exponential Moving Averages (EMA) and the key resistance point at $0.1451, its highest swing in February.

Therefore, there is a likelihood that the token will drop to the psychological point at $0.15 and then resume its bullish trend. More upside will be confirmed if it rises above the year-to-date high of $0.1690.

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Theo Crypto News

DeFi

MUNCAT becomes top gainer in crypto market with a 70% surge

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MUNCAT, a newly launched meme coin based on the Tron blockchain, has jumped 70% over the past day, making it the top gainer in the crypto market.

At the time of writing, MUNCAT (MUNCAT) was exchanging hands at $0.0402, with its daily trading volume up 737%, hovering around $6.98 million, per data from CoinGecko.

According to DEX Tools, MUNCAT’s market capitalization surged to over $38.3 million, with the number of holders surpassing 8,900. The network activity was predominantly bullish, as reflected by the number of buy transactions, which exceeded 993.

The latest surge in MUNCAT comes as the meme coin has secured its listing on several crypto exchanges, including HTX, SunSwap v2, and Poloneix. Deposit services for MUNCAT began on Aug. 29, followed by the opening of trading and withdrawal services on Aug. 30.

MUNCAT was launched on SunPump, the meme coin launchpad on the Tron blockchain. The meme coin integrates charitable giving into its operations by allocating a portion of transaction fees to animal welfare causes.

In addition to MUNCAT’s success, another token, ROCK, has recently emerged as one of the top-performing cryptocurrencies within the SunPump ecosystem. Driven by speculation that Justin Sun had invested in it, ROCK surged nearly 100% on Aug. 28, reaching a high of $0.003375 and achieving a market cap of over $3.3 million.

Meanwhile, data from DeFi Llama shows that the total value locked in the SunPump ecosystem has reached $1.53 million, with annualized fee income climbing to $36.06 million.

Token generation platforms have emerged as highly profitable this year. Despite significant declines in most Pump.fun tokens, the ecosystem has generated over $100 million in fees over the past eight months. These platforms profit by charging fees for token launches and transactions.

Even after the announcement of a partnership with CoinMarketCap, SunPump tokens have continued to drop. This collaboration aims to introduce a new dedicated express support channel for Tron memes. Meanwhile, CoinGecko, CoinMarketCap’s main competitor, has already launched a dedicated page for these memecoins.

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Theo Crypto News

Phân tích

Rock meme coin rockets on Justin Sun speculation

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Rock, a new meme coin on the SunPump ecosystem, was one of the top-performing cryptocurrencies, driven by speculation that Justin Sun had invested in it.

ROCK (ROCK) token surged nearly 100%, reaching a high of $0.003375, which gave it a market cap of over $3.3 million.

The token’s spike followed a social media post suggesting that Sun, the founder of Tron (TRX), had invested in the meme coin. The official X account of Rock reposted the speculation, although Sun has not yet confirmed this.

A confirmation of Sun’s investment would be significant due to his influence in the crypto industry.

In addition to starting Tron, Sun also acquired BitTorrent (BTT) in 2018 and serves as a senior advisor for HTX, formerly known as Huobi. He also launched USDD, a stablecoin with over $700 million in assets. According to Arkham, Sun’s crypto portfolio is valued at over $1 billion.

Rock, which describes itself as “nothing but a useless meme coin,” is one of the top tokens vying for attention in the crypto industry. It is different from Rock, another Ethereum meme coin whose price was down by 20%.

Some of the other big tokens in the SunPump ecosystem are Sundog (SUNDOG), with a market cap of $247 million and Dragon Sun, with a valuation if $28 million. Collectively, SunPump tokens have accumulated over $366 million in value.

Additionally, SunPump trading activity has generated over $30 million in fees, less than two weeks after launch. As a result, Sun confirmed that SUN community would vote for the first revenue burn.

Still, judging by the past performance of meme coins, investing in Rock is a high-risk and high-reward activity. In most periods, meme coins surge in their initial days and then retreat when the momentum fades.

For instance, Dogecoin (DOGE) soared to $0.7587 after Elon Musk’s endorsement in 2021 but has since dropped by over 87% to $0.098. Shiba Inu (SHIB) also saw a peak at $0.000089, followed by an 85% decline.

Similarly, recently launched meme coins like Dogwifhat, Popcat, and Book of Meme saw initial gains but have since retreated by double digits.

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Theo Crypto News

Bitcoin

Tron, Toncoin daily active addresses surge amid price fall

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The number of Tron and Toncoin daily active addresses saw an impressive rise on Monday, Aug. 26, leading the charts by a huge margin.

According to data provided by IntoTheBlock, the number of Tron (TRX) daily active addresses increased by 13% yesterday, leading the chart with 2.56 million unique active wallets. Data shows that the total number of non-zero TRX addresses is sitting at an all-time high of 110.78 million.

Toncoin (TON) secured the second spot after the number of daily active addresses increased by 79%, reaching a new ATH of 2.23 million, per data from ITB. The total number of non-zero TON addresses reached 43.82 million.

Tron and Toncoin are currently leading the chart by a big margin as Bitcoin (BTC) is sitting at the third spot with roughly 675,000 daily active addresses. This is mainly due to the increased usage of these networks while BTC stands as a store of value.

Despite the rise in the Tron and Toncoin active addresses, data from ITB shows that both tokens are seeing bearish on-chain signals. 

TRX declined by 2.8% over the past 24 hours and is trading at $0.16 at the time of writing. The asset’s market cap is sitting at the $14 billion mark with a daily trading volume of $800 million.

TRX price – Aug. 27 | Source: crypto.news

TON registered a 4.6% fall over the past day and is changing hands at $5.38 at the reporting time. The asset’s market cap is hovering at $13.6 billion, making it the 10th-largest cryptocurrency.

TON price – Aug. 27 | Source: crypto.news

Per ITB data, 99% of TRX holders are currently in profit while over 80% of TON holders are at a loss. 

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Theo Crypto News

Phân tích

Sun Token pump gains speed but a reversal might be near

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Sun Token price continued pumping on Friday, Aug. 23, making it one of the best-performing cryptocurrencies this week. 

Sun (SUN) surged to a high of $0.028, marking its highest level since December 2021 and a staggering 526% increase from its lowest point in 2023. Its market capitalization has grown significantly, rising from $101 million on Aug. 17 to over $276 million.

Sun’s jump mirrored the performance of other tokens in Justin Sun’s ecosystem. Tron (TRX) rose to $0.1660, its highest level since May 2021. Similarly, BitTorrent (BTT) soared to $0.0000010 while Just (JST) reached $0.034, 40% above its lowest level this year.

SUN’s price surge is supported by the recovery in the total value locked (TVL) in its DeFi platform, which has reached $758.7 million, the highest level since November 2022.

Traders hope that Sun’s ecosystem could see robust growth as we saw with Solana’s Raydium network as its meme coins gained popularity. In that period, Raydium has become a top-ten Decentralized Exchange, handling billions of volumes each month. 

According to DeFi Llama, the total volume handled in Tron’s DEX ecosystem rose by over 558% in the last 7 days to a record high of over $915 million. Most of this volume was in SunSwap V3, which handled $140 million followed by V2, which processed $42.60 million. 

SUN also benefited from comments made by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium. Powell hinted that the Fed might start cutting interest rates in September, which spurred further gains in the crypto market, with Bitcoin (BTC) rising to $62,000.

Sun Token price 

Sun Token price | Chart by TradingView

Sun rose for the second consecutive day, crossing the crucial resistance point at $0.018, its highest swing on March 14. It has soared above all moving averages and the SuperTrend indicator. 

The Average Directional Index has risen to 52, its highest level since June 6. An ADX above 50 typically indicates strong momentum.

The Relative Strength Index and the Stochastic Oscillator have both entered extreme overbought territory. Given these signals, SUN is likely to continue rising in the short term, but a reversal may occur as investors begin to take profits. The key psychological level to watch will be $0.030.

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Theo Crypto News