$2.2 trillion flowing through TRON, yet TRX can't even rally. I’m not chasing this divergence.
In Q3, TRON stablecoins alone settled around $2.2 trillion, with roughly $93.9 billion in USDT and USDD balances on-chain.
But over the same period, TRX supply grew for 108 consecutive days from July to October, as more was issued in rewards than was burned.
So the chain is raking it in every day, while the token price has been stuck around $0.33 for a month, closing at $0.3318 on October 18.
I think the stablecoin flows are real, but they don’t lead to TRX buybacks, and burns can’t keep up with issuance. The narrative and the token price are two different things.
I’m not chasing it. I’ll wait for it to choose a direction.
A breakout above $0.347 on strong volume would show that capital believes in this chain; if it falls below this month’s low of $0.327, I’ll stay on the sidelines.
Do you believe that being the “largest stablecoin settlement layer” will eventually show up in the token price, or do you think TRX will remain weighed down by ongoing issuance?
$TRX $USDT
#Stablecoins #TRON
In Q3, TRON stablecoins alone settled around $2.2 trillion, with roughly $93.9 billion in USDT and USDD balances on-chain.
But over the same period, TRX supply grew for 108 consecutive days from July to October, as more was issued in rewards than was burned.
So the chain is raking it in every day, while the token price has been stuck around $0.33 for a month, closing at $0.3318 on October 18.
I think the stablecoin flows are real, but they don’t lead to TRX buybacks, and burns can’t keep up with issuance. The narrative and the token price are two different things.
I’m not chasing it. I’ll wait for it to choose a direction.
A breakout above $0.347 on strong volume would show that capital believes in this chain; if it falls below this month’s low of $0.327, I’ll stay on the sidelines.
Do you believe that being the “largest stablecoin settlement layer” will eventually show up in the token price, or do you think TRX will remain weighed down by ongoing issuance?
$TRX $USDT
#Stablecoins #TRON