TRON's On-Chain Activity Doubles, Whales Accumulate 9.38% More TRX

TRON [TRX] has seen a resurgence in its on-chain activity, with daily transactions nearly doubling since September 2023, rising from below 5 million to nearly 9 million monthly. This increase indicates a strong recovery from the bear market slump and renewed on-chain engagement. At the time of reporting, TRX was trading at $0.2713, reflecting this growing utility.

TRON’s decision to slightly raise fees, which are paid in TRX, has also contributed to stronger functional demand. With users paying slightly more in TRX, the network has deepened its revenue pool and boosted functional demand—two metrics often tied to price support.

The latest historical concentration data points to a significant accumulation trend among large holders. Whales increased their holdings by 9.38% over 30 days, while investor-level wallets surged 43.01%. In contrast, retail wallet growth remained modest at 3.57%. This divergence suggests that strategic buyers are increasingly confident in TRX’s mid-term outlook, while smaller holders remain cautious. If retail flows start catching up, the existing whale pressure could form a solid floor under TRX’s price.

After months of low attention, TRON has clawed back attention. TRX’s Social Dominance metric spiked past 1.4% recently, before cooling slightly. This increase suggested that TRX has re-entered the public narrative, likely fueled by price movement and rising on-chain engagement. Spikes of this nature often precede heightened trading activity, especially if reinforced by bullish sentiment and sustained network growth.

However, not all metrics were bullish. TRX’s Funding Rates remained erratic. While there were brief bursts of positive sentiment, negative rates quickly returned, hinting at a bearish tilt in the Futures market. This uneven structure indicates hesitation among traders. On the bright side, it also reduces the risk of excessive long-side leverage, preserving room for more sustainable upside if sentiment gradually shifts.

TRX’s 24-hour Liquidation Heatmap showed dense liquidation clusters between $0.275 and $0.283 at press time, acting as a major resistance zone. Large leveraged positions were stacked in this range, meaning price spikes into this region may trigger forced liquidations. On the downside, smaller but notable clusters also existed between $0.265 and $0.26, creating a tight short-term trading band. Unless buyers push convincingly above $0.28, TRX risks remaining trapped between key liquidity zones, especially under macro volatility or shifts in funding dynamics.

The altcoin’s fundamentals look promising, with surging transactions, rising investor accumulation, and growing community interest. However, cautious derivatives sentiment and liquidation resistance near $0.28 remain risks. If whales maintain their buying pressure and social interest sustains, TRX could continue pushing higher.