Tron (TRX) was observed trading within a narrow range on Friday, as limited immediate market reaction was shown after a private dinner was attended by crypto entrepreneur Justin Sun and former U.S. President Donald Trump.
TRX was traded at $0.2680, slightly below the weekly peak of $0.2805. Since January, the token has remained in a consolidation phase. Although media coverage surrounding Justin Sun’s attendance at the VIP dinner had been widespread, the market response was observed to be muted.
Trump Ties and Tron: Justin Sun’s Influence Grows Amid Crypto-Political Alliance
According to The New York Times, this marked the initial in-person encounter between Justin Sun and former President Trump. Although it remains unclear whether a private discussion took place between the two, it was expressed by Sun that his intention was to address the future of cryptocurrency within the United States.
Justin Sun has been identified as the largest stakeholder in the Trump Coin and a principal backer of World Liberty Financial, a firm strongly linked to Trump’s cryptocurrency initiatives. In return, World Liberty Financial has committed over $10 million into TRX tokens, reflecting a substantial financial relationship between the involved parties.
Speculation has been fueled by Tron’s indirect ties to Trump, suggesting that the recently filed spot TRX ETF by Canary Capital could receive favorable regulatory treatment. Such an approval would mark a significant milestone for Tron in the U.S. crypto landscape. However, the possibility remains controversial due to Justin Sun’s Chinese nationality and Trump’s strong emphasis on “Made in the USA” economic policies.
Robust Network Metrics and USDT Leadership Propel Tron’s Market Position
Despite the stagnant price movement, Tron’s underlying network performance has remained robust. In 2024, it was ranked as the second most revenue-generating blockchain, with transaction fees totaling $1.3 billion. On specific performance indicators, it has even surpassed platforms like Ethereum and Solana.
Most notably, USDT processing has been dominated by Tron, with a remarkable $118 billion in transaction volume recorded on Thursday, according to TronScan. As stablecoins are projected to experience substantial growth in the coming years, Tron’s leading role in facilitating USDT transactions is expected to serve as a long-term catalyst.
Technical Outlook: Is a Breakout on the Horizon?
From a technical standpoint, TRX’s price action has been interpreted as a steady accumulation phase within an ascending channel that has been in place since February. The recent peak of $0.2805 has been identified as the upper boundary of this trend. Additionally, TRX remains positioned well above its 50-day moving average, while the Relative Strength Index (RSI) continues to rise, signaling strengthening bullish momentum.
In order for TRX to break free from its ongoing accumulation phase, the resistance level at $0.3112 — identified as the December swing high — would need to be closely monitored as the next critical threshold.
Although a sharp price surge has not been observed for Tron following Justin Sun’s dinner with Trump, the token has been gradually building strength. A potential breakout may be in formation, driven by growing institutional engagement, speculation around a possible ETF, and robust on-chain metrics.
It will be closely observed by investors whether the combination of political affiliations and Tron’s network dominance can be translated into upward price momentum in the coming weeks.
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