The recent August rally in the TRON price has drawn fresh attention in the crypto market. Unlike the unsustainable December 2024 rally, this upswing appears broader and steadier, which has been supported via an ascending trendline.
Currently, the TRON price today sits at $0.3685, around 18% below its all-time high (ATH) of $0.44, with a market cap amounting $34.63 billion.
A Stronger Market Structure Compared to Early 2025
In the first quarter of 2025, TRX crypto has struggled within the $0.22 to $0.26 range before moving higher into the $0.26 to $0.30 zone in Q2.
However, the quarter “Q3” has been different than previous quarters. The asset has found firm support along an upward trendline and rallied strongly through July and by mid-August.
As evident when writing, by mid-August, TRON/USD has gained nearly 41%, which is strengthening the bullish case.
As a result, the TRX price USD outlook has turned more favorable, with a possible retest of the ATH before the month ends.
BTC’s Rally and Strategic Partnerships Drive Sentiment
A key driver behind the current momentum is the broader market tailwind, which is created by top crypto’s rise to new highs of $124K.
Altcoins, including TRX, ADA, and others, have benefited greatly from this shift in sentiment.
Moreover, apart from price action in August, the TRON has been in the spotlight due to a new joint initiative that they call “T3+,” which involves TRON, Tether, TRM, and, most recently, Binance has been onboarded.
This collaboration is solely aimed from a security angle to enhance cross-border investigations and monitoring capabilities. The development has further boosted market confidence and reinforced positive sentiment toward the TRON price forecast narrative as well, as investors view TRON as a credible asset.
Long-Term Holders and On-Chain Data Highlight Strength In TRON
On-chain analysis from CryptoQuant insights reveals that the long-term holders of TRX are sitting on significant profits. Specifically, those holders who have held TRX for one year are currently seeing returns of more than 150% since the 2024 lows.
Similarly, in a separate insight from CryptoQuant, it reveals that TRON has recently surpassed 11.1 billion transactions, and this trajectory is primarily fueled by USDT/TRC-20 transfers. As it has low fees and fast confirmations, that’s why TRON is experiencing growth in adoption through its utility, and it has now become a leading remittance rail for stablecoin transfers between exchanges and wallets.
Adding to this, recent data from an X post from “NowPayments” shows that TRON now dominates the stablecoin market. As it is hosting more than 80% of the USDT supply.
Therefore, experts view TRON as the backbone of stablecoin transactions these days, and its growing adoption supports bullish scenarios for TRX price.
