TLDR
- Tron’s market cap rose 19% in Q3 2025 to $31.6 billion.
- Network revenue increased 30.5% to a record $1.2 billion.
- TRX bounced from its 250-day moving average, showing technical strength.
- A cup-and-handle pattern signals a possible price target of $0.35.
Tron (TRX) has shown sharp momentum in Q3 2025. While broader crypto markets showed mixed trends, TRX posted strong gains. Its market capitalization surged by 19% quarter-over-quarter, reaching $31.6 billion. Revenue on the Tron network also reached an all-time high of $1.2 billion. This performance has sparked market interest, especially with rumors of a potential Coinbase listing driving increased attention.
Q3 Growth Backed by Strong Network Activity
According to data from Messari, TRX’s market cap reached $31.6 billion by the end of Q3. This increase reflects rising usage across the network, particularly in the stablecoin sector. Tron remains a leader in USDT volume, hosting over 50% of the total supply.
Network revenue grew by 30.5% quarter-over-quarter to $1.2 billion. This marked a record high, driven mainly by transaction volume and stablecoin transfers. Tron also ranked among the highest revenue-generating blockchains in 2025.
The network’s revenue growth has supported a stable fee structure. Analysts say this has attracted both retail and institutional interest. Whale activity has also remained steady, suggesting continued confidence in TRX’s long-term role.
Coinbase Listing Speculation Adds Market Buzz
Market speculation increased following recent public statements from Justin Sun, founder of Tron. In particular, he hinted at possible partnerships involving Base, the layer-2 network supported by Coinbase. This has led to discussions about a possible TRX listing on Coinbase.
A Coinbase listing would introduce TRX to U.S. retail investors under a regulated environment. While no official announcement has been made, traders and market participants have reacted to the possibility. Listings on major exchanges often attract liquidity and increase asset visibility.
“TRX is being watched closely due to both network performance and potential exchange access,” noted one analyst on X.
However, some have cautioned that regulatory factors and internal review processes could delay any listing. Coinbase has not confirmed or denied discussions involving TRX.
Technical Setup Shows Possible Bullish Continuation
From a technical analysis perspective, TRX recently bounced off its 250-day moving average. Historically, this level has acted as a base during early stages of bull cycles. Many traders view this as a strong long-term support area.
The Mayer Multiple for TRX also hovers near 1.0, a level that previously marked the start of price rallies. Analysts tracking short-term movements noted the emergence of a cup-and-handle pattern in lower timeframes. This pattern often signals upward continuation when supported by volume.
If confirmed, price targets suggest TRX could reach $0.35. However, a breakout must be supported by a volume surge. Without that confirmation, the pattern may not hold.
One trader posted, “Time to go all in. Nothing can beat this pattern, I’m pretty sure this is going to play out soon.”
Positioning for Q4 and Market Outlook
As Q4 2025 begins, Tron continues to show strong performance across both revenue and market valuation metrics. Stablecoin dominance and consistent network use remain key growth drivers.
With technical indicators showing strength and ongoing speculation about a Coinbase listing, investors are closely watching TRX’s next move. Whether or not the listing materializes, the current momentum places Tron among the most closely monitored assets heading into year-end.
Messari’s latest report confirms TRX’s top-tier position among blockchain networks by revenue. As long as trading volume remains consistent and network activity continues to grow, Tron could maintain its upward trend.
