Quick Take
- Justin Sun had a secret meeting with Trump where the TRX ETF got the attention.
- The TRX was trading closely around the price of $0.2680 in spite of media hype.
- Linked to Trump is the World Liberty Financial, which has made an investment of $10M in TRX.
- The number 1 in transfers to USDT is TRON, which reaches $118B of volume on a daily basis.
- There are bullish breakout tendencies above this resistance of $0.3112.
- TRON stands at position 2 in the list of the most profitable blockchains in 2024.
Sun Greets Trump: A Crypto-Political Indication?
According to reports, Justin Sun, the founder of TRON, will have dinner with the former U.S. president Donald Trump, and that will be the first real-life meeting between the two people.
Justin Sun wanted to talk about the future of cryptocurrency in the U.S., but via The New York Times.
Although nothing confirms a closed-door meeting between the two, there is speculation as a result of the meeting. Why? Sun is not only a big Trump Coin holder but also a great contributor to the World Liberty Financial, a Trump-affiliated crypto company, which has invested more than ten million dollars into TRX.
Such a connection has led to speculation on whether a spot TRX ETF, recently filed by Canary Capital, will get a kind reception by regulators, a critical step in the TRON U.S. crypto ecosystem.
The USDT Dominance of TRON and Network Power
The forces behind TRON are robust even though there was no price outbreak. On a single day, the blockchain handled USDT volumes worth $118 billion as indicated by TronScan — ranking it as the most active in stablecoin activity in the entire world.
TRON also becomes the second-profitable blockchain in the year 2024 due to the $1.3 billion transaction fees it gathers and outperforms Ethereum and Solana on certain indicators.
TRX Ready to Pop? Chart Watch.
The TRX is on an ascending channel that started in February, but the price is below the week of highs at $0.2805. It is trading above the 50-day moving average, and the RSI is also rising to indicate the bullish momentum.
The next major resistance being looked at by the analysts is the swing high at $0.3112 in December. A pullout through this may bring a big uptrend.
Final Thoughts
Although TRX has not had a dramatic reaction to the Trump-Sun headlines, there is more going on in the layers of institutional connection, ETF banter, and network potency to indicate otherwise. At the current momentum, TRON can receive its due reward in the market in the form of a breakout soon.