On August 20, influenced by the positive news of TRC20-USDT reaching a record high issuance volume, the price of Tron (TRX) surged again, hitting its highest point since June 2021.
In January this year, TRX performed strongly, with an accumulated increase of 37%. However, market fluctuations in February caused a significant pullback. Although there was a rebound in April, the price failed to exceed the high at the beginning of January. It wasn't until recently that TRX successfully broke through the key resistance level of $0.143. In the past 24 hours, the price of TRX soared by more than 7%, currently standing at $0.148.
According to information released by Tron, the number of TRC20-USDT stablecoins issued on the TRON network has now surged to 61.8 billion, setting a new historical high. Additionally, accounts holding TRC20-USDT have exceeded 49 million, with the total number of transactions surpassing 1.9 billion.
For the TRON network, the greater the issuance volume of TRC20-USDT, the more frequent the on-chain activities, indicating the network's increasing popularity. This also provides strong support for TRON's native token, TRX. As the market further develops, TRX is expected to continue its upward trajectory, challenging the historical high of $0.18.
