Tron Flips Dogecoin as TRX Rises to 8th Rank

Tron's native token, TRX, has surpassed Dogecoin (DOGE), suggesting a shift towards utility over meme-driven value. This ascent has positioned it as the eighth-largest cryptocurrency by market capitalization.

This shift in ranking coincided with a meeting between Tron founder Justin Sun and Bo Hines. Their discussion centered on how the U.S. could enhance its dominance in the crypto space with Tron's involvement.

These discussions have sparked optimism among crypto enthusiasts regarding the potential price of TRX, as strong political backing is considered a significant advantage for the Tron ecosystem. While this news has propelled TRX past Dogecoin, the question remains whether this ranking is sustainable.

The Rise of Tron: More Than Just a Moment

Altcoins like Tron often exhibit strong reactions to news specific to their ecosystem. This recent political development adds to the factors contributing to Tron's growth.

During the conversation, Sun expressed appreciation for the advancement of the GENIUS Act, which he believes has bolstered the Tron ecosystem's reliability.

This political move marks a pivotal moment, especially as Tron is set to go public in the U.S. through a $210 million reverse merger with SRM Entertainment, becoming Tron Inc.

Coupled with this openly displayed political connection, Tron is signaling potential for substantial growth for the blockchain network.

This recent update may have propelled its rank to 8th, with TRX’s market cap at $25.93 billion, exceeding Dogecoin’s $25.13 billion. However, this time, its position seems more secure.

Data from CryptoQuant reveals the significant scale of stablecoin usage on Tron. Binance exchange processes between $2 billion and $3 billion in USDT transfers through TRON daily, a volume expected to increase.

Tron consistently accounts for over 65% of total on-chain USDT activity. This growth is fueled by Tron's low fees and fast settlement times, making USDT on TRON a preferred choice for real payments in both developed and emerging economies.

Consequently, Tron's ranking is poised to further increase as stablecoin utility gains momentum.