TRX price remained steady on Tuesday, Jan. 2, even as the Tron network continued to outperform Ethereum in revenue.
Tron (TRX), the cryptocurrency founded by Justin Sun, was trading at $0.2691, slightly above its December low of $0.2237.
Third-party data shows that Tron has surpassed Ethereum in terms of fees as network activity continues to rise. According to TokenTerminal, Tron has generated over $54 million in fees this year, making it the second-most profitable token after Tether (USDT). Ethereum (ETH), which has long dominated in terms of fees, has earned just $37 million.
This pattern is a continuation of a trend that began in late 2024 when Tron’s network fees surged. Over the last 180 days, Tron’s fees amounted to $1.8 billion, significantly higher than Ethereum’s $822 million during the same period.
Tron’s network has benefited from the launch of SunPump’s meme coin generator. According to CoinGecko, there are hundreds of SunPump tokens, which have a market cap of over $152 million. The biggest ones are Sundog, Tron Bull and Tron Bull Coin.
Tron is also thriving in the stablecoin sector. According to TronScan, the network handled stablecoin transactions worth over $108 billion on Monday, with the number of transfers reaching 2.15 million. The number of Tether holders on Tron has now surpassed 58.9 million.
Tron’s on-chain metrics remain notable. The network ranks as one of the most deflationary tokens in the crypto industry, having burned over 8.3 million tokens on Monday. This brings the total supply down to 86.19 billion, compared to 88.3 billion tokens a year ago.
Tron stakers benefit when the fees are rising at a time when the number of tokens are falling. Its staking yield stands at 4.53%, higher than Ethereum and Binance Coin (BNB).
Tron price analysis
The weekly chart shows that TRX has risen for three consecutive weeks as investors sought to buy the dip.
It remains above the key resistance level of $0.1842, which was its previous all-time high. The token is also trading above an ascending trendline that connects the lowest levels since November 2022.
Tron is above the 50-week moving average, while the MACD and the Relative Strength Index have pointed upward. Therefore, the TRX token is likely to continue its upward trend as buyers target the psychological resistance level at $0.40. However, the bullish outlook would be invalidated if the price drops below the support at $0.1842.
