TRX Hits 3 Year High of $0.1212, USDT on TRON Inches Closer to $20B

TRX Could Keep Rising Based on the Weekly Chart

At the time of writing, Tron is trading at $0.1175 with the weekly chart below confirming that such values of TRX were last witnessed in early 2018.

Also from the chart, it can be observed that on a macro scale, the weekly MACD is yet to show signs of weakness although Tron (TRX) is clearly in overbought territory. The weekly MFI and RSI are also hinting at an overbought situation for Tron. However, TRX still has the potential to keep climbing given the current bullish environment surrounding altcoins.

USDT Issued on Tron Nears $20 Billion

In terms of fundamentals, the amount of Tether (USDT) issued on Tron is inching closer to the $20 Billion mark as highlighted by Justin Sun through the following tweet.

When 20 B on #TRON? 😜 @paoloardoino https://t.co/otp5nkvXLo

— Justin Sun🌞 (@justinsuntron) April 2, 2021

USDT on Tron Could Soon Eclipse Tether on Ethereum

A quick glance at the Tether treasury reveals that a total of $19.794 Billion in USDT has been issued on the Tron blockchain. At the same time, the amount of USDT issued on the Ethereum blockchain currently stands at $22.416 Billion.

Doing the math, $2.622 Billion in Tether separates the two blockchains with Tron likely to equal or eclipse the USDT issued on Ethereum in the days to follow.

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