Tron’s TRX surges 6% as USD1 stablecoin launch boosts interest

Tron’s blockchain has recently added a USD1 stablecoin from World Liberty Financial Inc., which has brought renewed attention to TRX. This move has caught the eye of traders who are now closely monitoring the developments.

On Tuesday, TRX experienced a significant price movement, climbing 6%. It broke above the $0.2875 level on the daily chart before encountering resistance at $0.2980. A clean break past this resistance could potentially send the token toward $0.3230, the 50% Fibonacci retracement level. Currently, TRX is trading around $0.2920, sitting between support at $0.2808 and the 23.6% Fib mark of $0.2645.

The first USD1 stablecoin has officially been minted on TRON, marking a significant milestone for stablecoins. The new USD1 stablecoin is now live on Tron, issued by World Liberty Financial Inc., which has ties to US President Donald Trump. Justin Sun, Tron’s founder and the largest holder of the Trump Token meme coin, described the launch as a “giant leap for stablecoins.”

Sun also attended a White House dinner for top Trump Token holders, further linking Tron’s ecosystem to high-profile figures. This association has drawn fresh attention to Tron’s ecosystem, potentially attracting new users and investors.

According to DeFiLlama, the total value locked on Tron has reached over $5 billion. On June 6, the network saw 4.50 million returning user addresses, indicating a strong and growing user base. However, it remains to be seen whether these funds will stay within the Tron ecosystem or move to other chains in search of higher yields.

Based on CoinGlass data, TRX derivatives open interest rose by 8.25% over the past 24 hours to $329 million. The weighted funding rate open interest rose to 0.0098%, suggesting that bullish long positions are greater than shorts. Short liquidations in the past day were almost double that of longs, indicating a settlement of a bearish bet wave.

Technical analysis supports this positive outlook. The RSI on the daily chart is inching up to the overbought region, indicating heightened buying pressure. A recent MACD crossover drove histogram bars into positive territory, which means momentum has favored the buyers.

Traders will also keep a close eye on Bitcoin’s movements. A pullback in Bitcoin could drag altcoins lower, while a fresh rally could lift TRX even more. For now, the combination of a big-name stablecoin launch, rising TVL, swelling open interest, and positive technical signals gives Tron fans reason to watch for a potential breakout.