Tron (TRX) ended a 16% decline by reclaiming key moving averages and gaining 2.2% over the past week. After dipping since May, TRX found support late June and now trades around $0.33, still 11% below its May peak and 23% under its all-time high of $0.4313.
Institutional Buying and Network Strength Bolster Outlook
Tron Inc., listed on Nasdaq, boosted its treasury by acquiring another 150,742 TRX at about $0.3317 each, pushing total holdings above 706.9 million tokens. The company buys roughly $50,000 worth daily as part of a year-long accumulation plan, reflecting confidence in Tron’s scalability and value, according to CEO Rich Miller.
Network activity remains solid. A recent CryptoQuant report estimates the Tron blockchain hosts $90 billion in circulating Tether (USDT), handling $24 billion in daily transfers across 2.2 million USDT transactions. Analysts see this as confirmation of Tron’s role in global retail payments.
Transaction costs have also dropped significantly, with average fees down 65% year-over-year to $0.49 after a gas fee cut last year. These factors combine to suggest that selling pressure may be easing, though TRX’s lasting bottom will depend on Bitcoin’s next moves and overall market sentiment.
