- USDT minting activities on TRON have risen significantly over the past week, nearing an all-time high
- TRX’s movement seemed to be unaffected as whale and retail investor activity dropped
At press time, TRX seemed to be flashing bullish signs for a potential recovery. In fact, it gained by 1.49% over the last 24 hours, discontinuing its previous week’s losses of 9.18%.
The aforementioned market gains were likely influenced by USDT minting and the surge in addresses hitting a new high. However, further analysis by AMBCrypto revealed that the price of TRX might not hold strong for long. Especially since whales and retailers aren’t actively buying.
USDT minting on TRON surges — What’s next?
The minting activity of USDT on the TRON network has surged significantly over the past week, with $1 billion added to the total supply. At the time of writing, figures for the same stood at $61.7 billion, with the same indicated by the purple cloud on the chart.
That’s not all though as the current supply seems to be approaching its previous high – A sign of strong demand for USDT or stablecoins in the market, whether from retail participants or whales.
Such activity implies a positive development for TRON, which could affect TRX’s price movement. Hence, AMBCrypto analyzed whether TRX whales and retail investors are part of the market cohort seeking additional USDT and what to expect from its price going forward.
Whale and retail investor activity declines
There’s
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Author: Olayiwola Dolapo
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