TLDR
- TRON’s TVL surged by 3.4 billion TRX this week, reaching $6.6 billion total
- TRX price holding steady above $0.27, outperforming other L1 competitors
- Chainlink price oracle integration announced, enhancing DeFi infrastructure
- Transaction volume reached 60 million in the past week, up 4.8%
- Technical analysis suggests potential for 65% price jump to $0.4467
TRON (TRX) has been displaying strong performance lately, with its price holding firm above the $0.27 mark while many other Layer-1 cryptocurrencies faced steeper declines.
This resilience comes amid a series of positive developments for the network that may set the stage for a more substantial price movement in the coming weeks.
The TRON network has seen an impressive increase in its Total Value Locked (TVL), with over 3.4 billion TRX in new deposits flowing in since the start of the week. This surge has pushed the network’s TVL from 20.6 billion TRX on May 10 to 24.2 billion TRX by Thursday, May 16.
TRX Price
In dollar terms, TRON’s TVL now exceeds $6.6 billion, solidifying its position as the third-largest blockchain by locked value, trailing only Ethereum and Solana.
This growth reflects increasing confidence from both retail and institutional users in TRON’s capabilities as a high-throughput settlement layer.
JustLend and Sun.io have emerged as the leading TRON-native DeFi protocols attracting the most user activity during the current market cycle. Their growth has contributed to the overall expansion of TRON’s DeFi ecosystem.
Network activity has also seen a marked increase. According to Nansen data, TRON processed over 60 million transactions in the past week alone, representing a 4.8% increase. This makes it the third most active blockchain behind Solana and Base.
The number of active addresses has grown by 1% in the past week to over 6 million, significantly outpacing Ethereum’s 2 million active addresses during the same period.
Chainlink Integration Expands DeFi Capabilities
A major development for TRON came on Thursday when Tron DAO announced the integration of Chainlink’s decentralized price oracles into the network. This upgrade marks a critical enhancement to TRON’s DeFi infrastructure by providing more secure and reliable data feeds for smart contracts.
By leveraging Chainlink’s globally distributed oracle network, TRON DeFi platforms can now access real-time market data with reduced manipulation risk. This capability is essential for applications like stablecoin pricing, automated lending, and derivatives settlement.
The Chainlink integration positions TRON to potentially compete in the growing asset tokenization market, currently valued at around $3.5 billion according to Coingecko data. Until now, this sector has been dominated by Ethereum-based projects due to Chainlink’s native tooling.
With this integration, TRON developers will benefit from reduced latency in data updates and more scalable tooling, which could attract more TVL to TRON-based DeFi protocols in the months ahead.
Technical Outlook Points to Potential Breakout
From a technical perspective, TRX has shown remarkable resilience. While cryptocurrencies like Solana and XRP posted losses exceeding 4% on Thursday, TRX limited its decline to less than 1%.
The daily chart for TRXUSDT shows the price has remained above all key adaptive regression line bands, with support established between $0.256 and $0.262. Recent trading sessions have displayed clustering of green candles, accompanied by widening gaps between the ARL bands.
The MACD indicator reinforces this bullish view, with a rising histogram and increasing divergence between the MACD and signal lines. The blue MACD line at 0.0076 continues to move above the red signal line at 0.0054, suggesting accelerating bullish momentum.
TRX has also formed an ascending channel pattern and is now approaching its upper boundary around $0.28. A breakout above this level could trigger a move toward the 2024 high of $0.4467, representing a potential 65% gain from current levels.
However, traders should note that a daily close below $0.26 would place TRX back into the lower support band, raising the risk of a pullback below the $0.25 psychological support level.
