Why is tron pumping?

in #crypto4 months ago

Both the bitcoin and wider altcoin market have been flat. But tron has increased in price:


It might just be the usual pump-n-dump - except the price has been rising for over six weeks from $0.06.

The most likely explanation is down to Tether. Due to high Ethereum gas fees, it is cheaper to move Tether as a Trc-20 token, than it is to move it as an Erc-20 token.

Thanks to the demise of USDC (Circle) and other stablecoins, Tether is now king of the stablecoins. And it will move about on whichever rail is cheapest. For the moment, that's on the second layer of Tron.