- TRON network activity and stablecoin usage continue to trend higher despite weak price action
- Rising active addresses and USDT transfers point to growing real-world adoption
- TRX price remains in a downtrend, creating a disconnect between fundamentals and market sentiment
TRON has remained in a retracement phase since late August, and that pressure is still visible on the chart. Price action has struggled to find momentum, even as broader market conditions attempt to stabilize. Yet under the surface, the network itself looks anything but weak.
Active Addresses Signal Steady Adoption
On-chain data from CryptoQuant shows that TRON’s weekly average of active addresses has been climbing since September 2023. The move that started around April 2025 is especially notable, forming a clean, uninterrupted uptrend. That kind of consistency usually reflects genuine usage, not short-term speculation.
Stablecoin Settlements Remain a Core Strength
TRON continues to dominate as a stablecoin settlement layer. Monthly USDT transfer volumes have trended higher over the years, despite a brief dip in October from roughly $774.9 billion to $699.4 billion. Even with that pullback, the network remains one of the most heavily used rails for stablecoin transactions.
TVL Improvement Adds Context, Not Certainty
Total Value Locked has turned positive over the past two weeks, another sign of improving engagement. Historically, TVL growth has often appeared alongside price rallies, like the move seen in July 2025. Still, it’s not a guaranteed signal, as TRX has also seen rising TVL during consolidation phases in the past.
Price Structure Stays Bearish for Now
While adoption metrics improve, price tells a different story. TRX has slipped below its 365-day moving average, with the 50-day and 100-day averages trending lower as well. The daily chart shows a clear series of lower lows, and Fibonacci retracement levels highlight just how deep the pullback has been. Selling pressure persists, but it appears disconnected from network fundamentals.
