TRX Ignites: Tron’s $0.255 Target Looms After USDT Mint and ETF Gambit
TRON’s native token surges as fresh USDT minting and a bold ETF filing fuel bullish momentum—just as Wall Street starts pretending to care about ’blockchain innovation.’
- TRON’s price holds steady above key supports with bullish momentum indicators.
- Tether’s $1B USDT minting on TRON boosts liquidity and exchange activity.
- Canary Capital files for a TRX ETF, potentially ushering in institutional inflows
TRON (TRX) is trading at $0.2463, marking a 0.88% increase over the past 24 hours. Its trading volume saw a significant boost, surging 25.43% to $762.4 million, hinting at renewed investor interest. While its weekly performance reflects a marginal decline of 3.24%, analysts remain optimistic due to TRX’s resilient price behavior and strong technical footing.
According to a recent analysis, TRX is holding firm above all key exponential moving averages (EMAs), maintaining a bullish structure. The token rebounded from the $0.244 level and now eyes the $0.249 resistance.
A break above could trigger a push toward $0.255 and possibly $0.275 in the higher time frame. Analysts suggest leaning long, with scalp opportunities on dips above the $0.244 support.
Tether adds $1B USDT to TRON blockchain
In April, Tether minted $1 billion USDT on the TRON blockchain, a move tracked and confirmed by on-chain analytics sources like PeckShieldAlert and Onchain Lens. This minting marks a notable step in Tether’s liquidity strategy, aiming to reinforce smooth transactional flows within the ecosystem.
The action immediately influenced TRX’s trading patterns. Exchanges reported a 15% surge in USDT/TRX volume, showing a liquidity-driven rush. In the meantime, the jump of Bitcoin to above $87,000 highlighted a more general sentiment boost within the market.
TRON’s creator, Justin Sun, has long espoused integration with a stablecoin within the network, and the development further solidifies TRON’s position as a leading platform for decentralized finance (DeFi) activities. TRON’s Total Value Locked (TVL) also increased by 5% after the mint.
Canary capital plans new TRX ETF
In another significant development, Canary Capital has filed with the U.S. Securities and Exchange Commission (SEC) to launch a TRX-focused exchange-traded fund (ETF). Titled the “Canary Staked TRX ETF,” the fund intends to incorporate staking features, allowing it to generate passive income via third-party validators. BitGo is proposed as the fund’s custodian.
Despite still awaiting regulatory approval, this ETF would be a watershed moment for TRON’s mainstream investment popularity. It indicates a wider pattern of institutions demanding approved exposure to cryptocurrencies. As there is now new, pro-crypto leadership at the SEC, chances are brighter now than ever before for such staking-enabled offerings.
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