Tron (TRX) is in the spotlight, not just for its price action, but also for a 973% increase in whale transactions, even though the larger crypto market had a $343 million sell-off.
According to on-chain data, the volume of large TRX transactions (usually defined as transfers greater than $100,000) increased roughly tenfold in just 24 hours. According to IntoTheBlock data, Tron’s large transaction volume, indicative of whale activity, increased by 973.2% in the last 24 hours to $598.96 million.
This rise in whale activity coincided with a marketwide drop, totaling more than $343 million in liquidations as traders took profits. Following Monday’s rally, the market reversed course in the early Tuesday session, with most crypto assets trading down due to profit-taking and macroeconomic uncertainties.
Despite this, TRX has held relatively steady, trading up 1.97% in the last 24 hours to $0.2775.
On-chain data suggests that the Tron network is home to massive whale activity, with CryptoQuant reporting that 59% of May’s USDT volume on Tron came from transactions worth more than $1 million.
In 2025 alone, there have been 17 mints of $1 billion USDT on TRON (TRC-20), with the network experiencing increased on-chain activity.
Tron’s recent developments
Yesterday, reports emerged on Tron going public via a reverse merger with SRM Entertainment, providing investors with indirect exposure to a blockchain that powers more than half of USDT and 30% of worldwide stablecoin activity.
The new firm will purchase and hold Tron’s TRX, similar to Michael Saylor’s Bitcoin holding firm, Strategy (MSTR). Tron will invest $210 million worth of tokens in the new company.
Tron surged sharply in Monday’s trading session, rising from $0.27 to $0.295. TRX was continuing up, having touched $0.2777 in today’s trading session and higher from its June 13 low of $0.267.
Tron has been consolidating in a range since December 2024, with a breakout target of $0.45 if successful.
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