TRON (TRX) has been experiencing muted performance in recent weeks, trading at $0.3389 at the time of writing. This represents a 21.4% decline from its all-time high of $0.4313, recorded late last year.
Despite relatively stable price levels in recent days, the lack of upward momentum suggests investors might be carefully watching for a catalyst that could determine the token’s next major move.
CryptoOnchain noted that TRON’s network activity is at record levels, with daily active addresses (DAA) surpassing 2.6 million, the highest figure in its history.
The analyst highlighted that TRX sits just below its historical resistance. If the token were to close above its all-time high and sustain that level, the breakout target could range between $0.48 and $0.52, aligning with TRON’s On-Chain Value Bands metric.
However, CryptoOnchain cautioned that this scenario depends heavily on TRON maintaining its active address momentum. A decline in DAA could undermine the bullish setup, exposing TRX to downside risk.
This concentration of large transfers is significant because it often precedes shifts in broader crypto market sentiment. A notable example occurred on August 12, when $100M+ wallets moved approximately $3.9 billion in USDT across the TRON network.
That wave of transfers directly coincided with a 5% rally in Bitcoin, highlighting the role of stablecoin liquidity in driving market cycles.
Taha added that the distribution of daily USDT wallet changes reinforces this trend. Wallets with balances above $100M accounted for nearly 35–36% of total daily activity, a level nearly identical to August’s inflows.
Featured image created with DALL-E, Chart from TradingView
