Since its launch in June 2018, TRON has achieved a significant milestone by surpassing 10 billion total transactions.

As per a May 1 analysis by CryptoQuant contributor Maartun,  the network currently handles approximately 8.4 million transactions every day. Although activity peaked during the 2021 and 2023 bull runs, TRON’s (TRX) daily usage has been increasing steadily. Maartun stressed that this level of on-chain traffic is often overlooked but remains a strong bullish signal.

On-chain data shows that TRON is gaining momentum in several areas. According to DeFiLlama data, the network’s total value locked  is currently sitting at $5.03 billion. Recent activity suggests a recovery trend, even though it is still less than the $7 billion recorded at the beginning of the year. Decentralized exchange volume, on the other hand, has reached its highest monthly level this year, rising from $3.4 billion in March to $4.9 billion in April.

Additionally, TRON’s position in the stablecoin market keeps growing. The network’s stablecoin market capitalization has increased from $58 billion in Janyary to over $70 billion. In late April, there was a significant increase of $2.17 billion added in a single week. This included Tether (USDT) minting $1 billion USDT on Apr. 21.

On the technical side, TRX is trading close to $0.245,  just below the crucial resistance level of $0.25. The price is still above several key moving averages, such as the 50-day and 100-day,  a feature which is generally seen as a bullish indicator.

At 51, the relative strength index is neutral, but the moving average convergence divergence indicator is slightly bearish. Most other oscillators remain flat, suggesting a wait-and-see approach from the market.

The next upward target, which is in line with the upper Bollinger Band, is located between $0.26 and $0.265. It could be reached if bulls are able to turn $0.25 into support. A breakdown below $0.243 could invalidate the bullish setup and retest the $0.239–$0.240 support zone.

Meanwhile, TRON’s fundamentals continue to improve. On Apr. 30, web3 staking service provider P2P.org was approved as a TRON Super Representative, enabling participation in block production and institutional staking. Earlier in April, Canary Capital filed for a spot TRX ETF with staking features, signaling growing interest from traditional finance. 

TRON founder Justin Sun has also voiced optimism, predicting that TRX’s market capitalization will reach a new all-time high in Q2 2025. He cited a growing correlation with Bitcoin (BTC) as a sign of maturing market behavior.