TRON’s TRX Holds Steady Near $0.335 Amid Stablecoin Growth

TRON’s native token, TRX, was trading near $0.335 on October 5, maintaining a tight range between $0.325 and $0.345 for most of September. The network holds approximately $95.8 billion in stablecoins, while the circulating supply of TRX is valued at about $31.8 billion. This disparity reflects different metrics: stablecoins measure issued tokens, while TRX’s value depends on market demand.

TRON remains a significant platform for USDT transfers, with a reported $2.1 trillion transfer value in the second quarter. The network’s daily active accounts averaged 4.41 million over the past 30 days, indicating strong user engagement. Meanwhile, the Canary Staked TRX ETF (TRXS) saw no change in outstanding shares since its launch, remaining at 2.03 million as of October 2.

Looking ahead, TRX could reach $0.38 to $0.40 with a 13% to 19% gain, or drop to $0.29 to $0.31 with a 7% to 13% fall. Key economic events, including the September CPI release on October 14 and the Federal Reserve meeting on October 27-28, could influence market sentiment. Additionally, the PCE inflation data on October 29 may also impact TRX’s price trajectory.