TRX Price Increases Following Launch of Trump-Backed USD1 Stablecoin
Tron's blockchain has integrated the USD1 stablecoin from World Liberty Financial Inc., generating renewed interest in TRX. Traders are monitoring potential price movements.
Price Action
- TRX increased by 6% on Tuesday, surpassing $0.2875 before encountering resistance at $0.2980.
- A break above $0.2980 may target $0.3230, the 50% Fibonacci retracement level.
- Current trading is around $0.2920 with support at $0.2808 and a Fib mark at $0.2645.
The first USD1 has officially been minted on TRON — a small step for USD1, a giant leap for stablecoins!https://t.co/KMLg8NcXw8
— H.E. Justin Sun (@justinsuntron) June 11, 2025
Stablecoin Launch Details
- The USD1 stablecoin is operational on Tron.
- World Liberty Financial Inc. has connections to US President Donald Trump.
- Justin Sun characterized the launch as significant for stablecoins.
On-Chain Growth Indicators
- Total value locked (TVL) on Tron exceeds $5 billion.
- 4.50 million returning user addresses recorded on June 6.
- Ongoing user engagement in DeFi applications is noted.
Derivatives Market Insights
- TRX derivatives open interest rose by 8.25% to $329 million.
- Weighted funding rate increased to 0.0098%, indicating more bullish long positions than shorts.
- Short liquidations were nearly double that of longs recently.
Technical indicators reflect increasing buying pressure, with RSI approaching overbought levels and a MACD crossover signaling positive momentum. Market participants are also watching Bitcoin's performance, which may affect altcoin trends. The combination of the stablecoin launch, rising TVL, and bullish derivatives data suggests potential for a TRX breakout.