---
title: "Tron Processes Nearly $100 Billion In Trading Volume Last Week, TRX Ready For New All-Time High?"
url: https://diffcoin.com/tron-processes-nearly-100-billion-in-trading-volume-last-week-trx-ready-for-new-all-time-high/
description: "Tron, the smart contracts platform, posted nearly $100 billion in on-chain volume in seven days. Most of these transfers were in USDT"
published: 2024-09-27
updated: 2024-09-27
author: "Mila"
site: "Diffcoin"
---

# Tron Processes Nearly $100 Billion In Trading Volume Last Week, TRX Ready For New All-Time High?

TRX, the native currency of the Tron network, is steady at press time and trending at around all-time highs. After the explosion in Q3 204, the uptrend remains, and buyers are confident that there will be more gains in the coming days.

## Tron Settles Nearly $100 Billion In On-Chain Volume

The outlook is partly thanks to growing on-chain activity and shifts in crypto market sentiment after changes to monetary policy in the United States.

According to IntoTheBlock data, the Tron network settled nearly $100 billion in on-chain volume in the past week. The spike in on-chain volume, the blockchain analytic platform observes, is due to rising on-chain activity.

With the blockchain processing over $98 billion in trading volume in seven days, IntoTheBlock data shows that Tether (USDT) transfers dominated. According to TronScan, Tron manages over $61 billion of USDT.

![Tron registers nearly $100 billion in on-chain volume | Source: @intotheblock via X](https://bitcoinist.com/wp-content/uploads/2024/09/GYVdKT_XYAEF-rK.jpeg?resize=1024%2C690)

Tron registers nearly $100 billion in on-chain volume | Source: @intotheblock via X

Notably, over 50% of all USDT transfers are initiated from Tron, which is relatively cheaper and more scalable than Ethereum. Even with the rise of Ethereum layer-2 solutions, USDT on Tron dominates and is preferred.

Combining IntoTheBlock data also reveals that TRX transfers are next, comprising 2.6% of all on-chain volume over the last week. Other TRC-20 tokens in the top five include SUN, BitTorrent, and JUST. These are tokens that prime some of the top DeFi protocols on Tron.

## Meme Coin Activity To Drive TRX Higher?

Interestingly, though meme coin activity is picking up momentum after the launch of SunPump in mid-August, none of these meme coin tokens broke into the top five. On August 13, Justin Sun, the co-founder of Tron, launched SunPump, fueling a meme coin frenzy.

Dune Analytics data reveals that SunPump has generated over $5.3 million in revenue as over 86,400 meme coins have been launched through the meme coin launchpad. Currently, over 1,640 SunPump tokens have been listed on Sunswap.

![SunPump meme coin activity | Source: Dune Analytics](https://bitcoinist.com/wp-content/uploads/2024/09/Screenshot-73.png?resize=1024%2C362)

SunPump meme coin activity | Source: Dune Analytics

Although the meme coin mania has fizzled, TRX and SunDog–a top meme coin released from SunPump–have benefited. As of September 26, SunDog is firm, up by over 720% from August 2024 lows, according to Coingecko.

![Tron prices moving upward on the daily chart | Source: TRXUSDT on Binance, TradingView](https://www.tradingview.com/x/FFU13j0L/)

Tron prices moving upward on the daily chart | Source: TRXUSDT on Binance, TradingView

From the chart, TRX is roughly 10% down from all-time highs. Despite the contraction over the past few trading weeks, the uptrend remains. A break above $0.15 and the bull flag, clear in the daily chart, could build the momentum for a leg up above August 2024 highs.

Feature image from Canva, chart from TradingView

[Source link](https://bitcoinist.com/tron-100-billion-trading-volume-trx-all-time-high/)