Tron slips to worst weekly performer as on-chain metrics rise

Tron (TRX) was the worst weekly performer among the top 10 crypto assets, trading near $0.315 and falling about 1.5% over the week. The token dropped close to 10% over the past 30 days and ranked eighth by market value at roughly $29.9 billion.

Daily transactions on the Tron network reached a record 14.3 million and were about 15% higher than 30 days earlier.

CertiK reported that on-chain stablecoin value on Tron hit $90.96 billion on May 24 and was near $90.3 billion at the time of reporting, a 4.9% increase since the end of the first quarter and a 16.4% rise year-over-year.

Decentralized exchange volume on Tron rose about 28% over the past 30 days from multi-quarter lows.

Tron Inc., the Nasdaq-listed treasury company tied to the ecosystem, purchased 159,118 TRX, lifting its holdings above 700.3 million TRX. The firm added about 1.8 million TRX so far this month.

TRX was listed on Bitnomial, a CFTC-regulated U.S. exchange and clearinghouse, on June 5. OKX Europe listed TRXUSD expiry perpetuals earlier in the month; that MiFID-regulated product is available to eligible traders across 30 European Economic Area jurisdictions with up to 10x leverage.

Tron founder Justin Sun wrote that the listings support ‘broader market access, greater transparency and the continued maturation of the digital asset ecosystem.’

Weekly technical charts show TRX trading inside an ascending triangle, with resistance near $0.365 and a rising trendline that has held since mid-July 2024.

On-chain activity, the DEX volume rebound, institutional purchases and the new regulated listings occurred while TRX’s price lagged those developments.