- Tron (TRX) surged nearly 11% in the past week, with a 4.66% increase in the last 24 hours to $0.2642.
- Average USDT transaction size on Tron has grown from $4,273 in June 2023 to $9,718 in December 2024.
- Experts predict a 444% increase, potentially bringing TRX to $1.11.
Tron (TRX) has been showing positive momentum in the market recently, experiencing a notable surge in value. Over the past week, the cryptocurrency has increased by nearly 11%, signaling the potential for further upward movement.
As of the latest data, TRX is priced at $0.2642, marking a significant 4.66% increase in the last 24 hours. This surge has helped it maintain a market capitalization of $22.78 billion and a market dominance of 0.67%.
TRX Value Jumps with Surge in USDT Transfers
The recent uptick in TRX’s value can be attributed to multiple factors, one of which is the increased transfer volume of Tether (USDT) on the Tron network. According to data from CryptoQuant, the average transaction size of USDT on the Tron network has significantly risen over the past 1.5 years.
In June 2023, the average transaction size was around $4,273, but by December 2024, it had climbed to $9,718. This indicates that larger players are increasingly using Tron for USDT transfers, which could be a sign of growing confidence in the network’s scalability and reliability.
Tron Price Could Surge 444% to $1.11
Crypto market watchers are also noting a bullish outlook for TRX. According to crypto expert Javon Marks, TRX has been holding up impressively, with a nearly +300% increase since the breakout of a logarithmic ‘wedge’ pattern. Marks suggests that this breakout could pave the way for even higher price movements.
With measured projections, there is still potential for a 444% increase, bringing TRX’s price to around $1.11 in the near future, signaling that TRX could be poised for further growth.
As the market continues to embrace Tron’s blockchain capabilities and the increasing role of USDT on its network, many believe that TRX is well-positioned for continued upward momentum. The strong trading volume and the participation of larger players provide further evidence of growing market confidence and the potential for TRX to hit new price targets.
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