Tron (TRX) has been on a bullish rally over the past 30 days as the price aims for the $0.30 level. Although TRX has not achieved the target yet, its performance has pushed it up enough to dethrone Cardano (ADA) from ninth place.

Does stablecoin dominance back market cap surge?

According to CoinMarketCap data, Tron's market capitalization has grown from the $24 billion zone to $25.79 billion, clinching ninth place in the rankings. Cardano now occupies tenth place, with its market cap of $24.88 billion. Notably, a drop below tenth place is likely if the sell-off grows.

Tron recently displayed strength amid broader market uncertainty, which supported its upward trajectory. Notably, the Tron network dominated daily USDT transfers and active addresses in the stablecoin space.

Market participants' preference for Tron ensures its success. Tron recently flipped Ethereum in stablecoin volume, a significant shift in liquidity. The sentiment could have positively impacted Tron, triggering a rise in value.

As of press time, however, the Tron price was trading down by 1.36% as it exchanged for $0.2719 on the crypto market. Traders have pushed volume up by 21.31% to $695.56 million.

Despite the slight price decline, trading volume has supported Tron’s rebound from the $0.2684 low it plunged to in earlier market activity.

Resistance at $0.30 remains major obstacle for TRX

However, Tron could face significant obstacles that might cause it to lose ninth place. Notably, TRX’s price is susceptible to general market volatility. This could lead to sharp declines and loss of its current ranking.

Additionally, since December 2024, Tron has not been able to breach the $0.30 resistance level. Each attempt has been rejected. This knowledge could pose a significant challenge to Tron’s continued growth. If momentum refuses to change, investors might decide to liquidate their holdings for other assets.

Tron is safe, as over 98% of addresses are currently in profit, and such massive dumping for gains might not occur. These holders probably anticipate a rally that could see TRX aim for a new all-time high.