Double Bottom Defended: TRX Eyes Rebound Following LayerZero-Base Integration

Source: CoinEdition Original Title: Double Bottom Defended: TRX Eyes Rebound Following LayerZero-Base Integration Original Link: https://coinedition.com/double-bottom-defended-trx-eyes-rebound-following-layerzero-base-integration/

• The integration utilizes LayerZero (ZRO) for cross-chain interoperability.
• Connects TRON’s close to $81 billion stablecoin market with Base’s $4.4 billion TVL, creating an $86 billion liquidity bridge.
• TRX is defending $0.27 support, forming a technical double bottom pattern on the weekly chart.

Integration Overview

TRON DAO has officially integrated with the Base ecosystem via LayerZero, creating a high-velocity bridge for a combined stablecoin market exceeding $80 billion.

With the help of LayerZero (ZRO), the Tron network will be interoperable with the Base chain. The associated tokens from the two chains can now move seamlessly with the help of different decentralized applications (DApps).

The strategic integration allows TRX, TRON’s native utility token, to be seamlessly bridged to the Base network. Users can now access TRX directly on Base, complementing both ecosystems and fueling mainstream adoption of digital assets and Web3 protocols.

Market Data

The Tron network has a strong adoption of stablecoins, currently around $81 billion. According to market data analysis, the Tron network had a reported total value locked (TVL) of about $4.33 billion and around 2.8 million in daily active addresses.

On the other hand, the Base chain has grown to become a leading scaling solution, with a TVL of about $4.4 billion. With backing from a major compliance-focused platform, the Base chain has seen its stablecoin market grow to nearly $5 billion and around 500k in daily active addresses.

Justin Sun, the founder of Tron, stated that the integration will be crucial to enhancing blockchain interoperability: “Each ecosystem will complement the other by improving interoperability, broadening access for developers and users, and supporting secure on-chain activity across networks. It reflects our shared focus on building solutions that address the needs of real users.”

Impact on TRX Price

Although the integration between the two chains is mutually beneficial, the TRX price is well-positioned to benefit heavily. Higher TRX demand will fuel its bullish outlook in the long run.

From a technical analysis standpoint, the TRX price has already established a support level above $0.27, after forming a potential double bottom. In the weekly timeframe, the large-cap altcoin, with a fully diluted valuation of about $26 billion, has already risen above its 2018 and 2021 peaks.

The TRX/USD pair is well positioned to rebound from its established rising logarithmic trendline support fueled by robust fundamentals. However, if TRX price consistently closes below the established weekly rising logarithmic trendline support, a potential selloff to $0.14 will be inevitable.