TRON sees a $1 billion stablecoin inflow despite declining volumes and a potential recovery

TRON sees a $1 billion stablecoin inflow despite declining volumes and a potential recovery

Over the last two weeks, TRON received $1 billion in USDT. Stablecoin inflow increased, leaving TRX in a neutral position as its development activity picked up.


Over the past two weeks, the decentralized platform TRON [TRX] recorded a $1 billion USDT inflow. DeFi Llama disclosed TRON had the highest stablecoin inflow on November 18, with peaks on November 24 and 28.

Random comments claimed the influx did not represent investors' actions. Justin Sun, the company's founder, might inject liquidity instead. The price of TRX, however, was unaffected and fell by 1.11% over the previous day. TRX's price, according to CoinMarketCap, was $0.054.

Market fluctuations

The two-week milestone did not spark trades in TRX to bid for gains. This resulted from the signals that Santiment gave. TRON's Binance funding rate was -0.026% at the time of publication, based on the on-chain analytic platform.

This negative value meant that futures and options traders were less motivated to fill the volume in the derivatives market. Long and short perpetual contracts were, therefore, largely ignored.

TRON's Binance funding rate was -0.026%
Source: Santiment

Despite the traders' disregard, TRX's momentum had some diverging complexity. The TRX Awesome Oscillator (AO) was 0.00045 on the four-hour chart.

The AO kept its position above the histogram while it was in red. It was clear from its lack of a bullish or bearish twin peak that TRX's momentum was likely to maintain a neutral stance.

It was a case of revving the cryptocurrency for the Directional Movement Index (DMI). The DMI showed a significant directional push in favor of buyers as of this writing.

This occurred because, at 15.75, the positive DMI (green) was higher than the negative DMI (red). Notably, the possibility existed that the buyers might need help to maintain control as it declined. Even though the Average Directional Index (ADX) in yellow displayed significant strength at 22.81, this was the position.

Directional Movement Index (DMI)
Directional Movement Index (DMI)

Both relief and burden

TRON also appeared to be thriving based on network upgrades. Santiment reported that development activity had increased after hitting a four-week low earlier. TRX's development activity was 1.88 at the time of publication. This implied that TRON's developers were still working on network upgrades and were already doing so.

On the other hand, there was a significant decline in NFT trading activity. Santiment reported a 23,900 NFT trade volume for TRON. Since the value had risen to $730,000 on November 30th, there had been a significant decline. It meant that NFT traders' primary focus was not currently TRX-linked collectibles.

NFT trade volume for TRON
NFT trade volume for TRON

Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.

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