Tron’s TRX token achieved $920 million in realized gains within a 24-hour period, marking the second-largest profit event across cryptocurrencies behind Bitcoin’s $665 million. This surge is primarily attributed to TRX’s token burn mechanism, which systematically reduces supply to boost demand, alongside substantial revenue from Tether’s USDT stablecoin predominantly issued on the Tron blockchain.
Despite trading significantly above its 52-week low, TRX faces potential short-term price pressure as investors move to capitalize on recent gains. Market indicators suggest the profit-taking phase may be nearing exhaustion, with the Stochastic RSI hinting at possible price stabilization once selling subsides. Tether’s USDT operations on Tron continue to generate approximately $7.57 billion in annual fees, underpinning the network’s economic activity.