Tether’s $1 Billion Mint Powers Tron — Is A Breakout Brewing?

Christian Encila

2 months ago

4 mins read

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Tron (TRX) is retaining its position after a tumultuous weekend in the general crypto space. The token remains close to $0.24, recording a negligible decline of only 0.91% over the last day. Even as there is tame price action, analysts are in close observation looking for indications of a potential breakout, with $0.40 now making an appearance.

Price Stuck Between Major Levels

TRX has been consolidating between $0.21 and $0.2551. The sideways price action has gone on for several weeks, after plummeting from $0.45 all the way to $0.21 at the end of last year. The token appears to be steadying since the fall. At present, the buyers are exhibiting resilience at the $0.24 mark, which coincides with the 50-day Exponential Moving Average (EMA).

Three of the significant EMAs — the 50-day, 100-day, and 200-day — are also in a bullish alignment, which further supports the notion that the token could be positioning for a powerful move upward. The longer TRX remains above these support lines, the greater the odds are that it will break out of this range.

Tether minted an additional 1B $USDT on Tron ~4 hours ago!

Since April 28 (8 days ago), #Tether has minted 4B $USDT on both #Ethereum and #Tron.

Follow @spotonchain for more updates now! https://t.co/SeKwCj1byN pic.twitter.com/xxPA6IosmB

— Spot On Chain (@spotonchain) May 6, 2025

Momentum Indicators Suggest Increasing Strength

From a technical perspective, the Moving Average Convergence Divergence (MACD) is indicating a possible change. The MACD and signal line are moving close to each other in the positive area. This typically indicates increasing momentum.

If purchase volume sets in, analysts predict TRX will breach the $0.2551 ceiling and move towards $0.28, which is where the 23.6% level lies on a trend-based Fibonacci retracement. If things continue to build steam from there, TRX will move as high as the 50% Fibonacci level at $0.39 — just below the much-hyped $0.40 level.

TRX market cap currently at $23 billion. Chart: TradingView.com

1 Billion USDT Minted On Tron

Support for the bullish argument is also emerging from within the Tron ecosystem. Tether has created a further $1 billion USDT on the Tron blockchain. Tether has created 4 billion USDT on Ethereum and Tron combined since April 28.

TRX price up in the last week. Source: Coingecko

New minting of USDT tends to indicate increased market activity. As these tokens are utilized for trading, swapping, and transferring capital, additional USDT on Tron might translate to greater demand for TRX. It’s not certain, but it is a sign to consider.

Chain revenue:👇$SOL 41.72%$TRX 24.56$ETH 16.4%$BTC 7.4% pic.twitter.com/kvVcvpkJT8

— Ted (@TedPillows) May 5, 2025

Tron Activity Surpasses Ethereum In Revenue

According to statistics reported by analyst Ted Pillows, Tron’s portion of the overall network economic value is nearly 25%. Solana alone is also nearing 42%. Yet in a surprising turn, Tron’s revenue chain is now higher than Ethereum‘s at 16% of total network revenue.

According to TronScan, the number of total accounts on the network is also growing. As of now, there are more than 304 million accounts. The total value locked (TVL) across Tron’s platforms has crossed the $20 billion mark.

Whether TRX reaches $0.40 anytime soon will have something to do with how it acts around the $0.25 resistance level. At the moment, price action, technical indications, and ecosystem activity all appear to be pointing in the same direction.

Featured image from Gemini Imagen, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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