TRON's USDT Supply Surpasses $80 Billion, TRX Up 2.2%

TRX, the native token of the TRON blockchain, is showing signs of a potential recovery as the total circulating supply of Tether (USDT) on the TRON network has surpassed $80 billion. This milestone marks TRON as the leading network for USDT issuance, surpassing Ethereum (ETH) in terms of overall USDT supply for the first time in three years.

The growth of USDT on TRON has been significant. Starting from just under $7 billion in late 2020, the supply surged to over $39 billion during the 2021 bull market. This upward trend continued into 2025, with the supply rising from $59.76 billion at the beginning of the year to more than $80.76 billion by mid-June. Despite this rapid growth in stablecoin supply, the network’s total value locked has decreased from about $7.5 billion in January to just $4.3 billion.

However, the decentralized exchange (DEX) volumes on TRON present a more optimistic outlook. Monthly trading volume on TRON-based DEXs rose from $4.9 billion in April to $5.5 billion in May, indicating renewed trading activity on the blockchain. This suggests that despite the decrease in total value locked, there is still significant on-chain activity and interest in the TRON ecosystem.

At the time of writing, TRX is trading at $0.2729, up 2.2% over the past 24 hours, with a weekly range of $0.2605 to $0.2791. The token is still 36% below its peak of $0.4313, which was reached in December 2024. The daily volume has decreased by almost 29% to $939 million, indicating a cooling in spot trading activity.

From a technical perspective, TRX appears to be consolidating near key support levels. The price has been moving sideways just below the 20-day simple moving average but remains above important exponential moving averages over both short and long timeframes, such as the 10-, 30-, 50-, and 100-day EMAs. This alignment suggests underlying strength in the trend, despite the price being range-bound. The Bollinger Bands are showing a slight narrowing, indicating less volatility, and TRX is hugging the middle band. The relative strength index, which is near 50, shows a neutral momentum bias. The momentum and bull/bear power indicators are flashing buy signals, but the MACD indicator is still in slightly bearish territory.

If TRX decisively clears the 20-day SMA and breaks above the $0.28 range, a bullish breakout might develop, potentially paving the way for a retest of the $0.30–$0.32 range. On the downside, the token may be susceptible to additional losses toward the lower Bollinger Band around $0.262 if it is unable to hold above $0.265.