- The SEC and Justin Sun are in discussions over a possible settlement.
- TRON (TRX) shows signs of recovery amid legal developments.
The court case between TRON developer Justin Sun and the U.S. Securities and Exchange Commission (SEC) might be heading toward a resolution. In a recent court filing, both have made a joint request for a stay in proceedings in a bid to pursue a potential settlement.
This is just about a year after the SEC filed charges of fraud, market manipulation, and selling unapproved securities.
In the motion filed in the U.S. District Court for the Southern District of New York, both Sun’s legal team and SEC attorneys agreed that pausing the case would serve the interests of all parties involved, including the public.
— H.E. Justin Sun
(@justinsuntron) February 27, 2025
The request points out that a pretrial disposition is likely to keep court resources intact and also prevent unwarranted litigations. In case it is granted, a 60-day report is expected.
This case initially surprised the cryptocurrency space on its filing in March 2023. The SEC alleged that Sun engaged in illicit activities, which included artificially inflating trading volumes in TRX as well as market manipulation.
Despite these claims, TRON’s network has grown steadily, with Sun remaining a key actor in the cryptocurrency space.
TRX Trades at $0.2292 as Market Eyes Settlement
Following the news of potential settlement talks, TRON’s native token, TRX, showed signs of stability and recovery. Currently, TRX is trading at $0.2292, reflecting renewed investor confidence. Market watchers suggest that resolving the case could eliminate uncertainty and open new growth opportunities for TRON’s ecosystem.
Interestingly, TRON is still leading in altcoin transactions. A recent report from CryptoQuant observed that 41.6% of altcoin transactions, excluding Solana and Binance Coin, are conducted on TRON.
Transactions in Tether (USDT) largely drive this, as TRON remains the preferred network for stablecoin transactions. The report also quoted that TRON is increasingly engaged in decentralized finance (DeFi), solidifying its position in cryptocurrency.
Regardless of challenges in terms of laws, activity on TRON’s network is still healthy. In a single year, transactional activity increased dramatically, with high engagement from users. Many investors and traders consider TRON’s consistent activity a demonstration of its resistance in light of regulatory challenges.
TRON’s USDT Supply Reaches All-Time High
Meanwhile, TRON’s supply of USDT reached a new high, reflecting its growing usage. The circulating supply on TRON increased dramatically, which means that more users, as well as institutions, are making use of the network for transactions as well as DeFi.
Statistics have also confirmed that trading activity on exchanges that are operated on TRON has gone from billions to trillions in recent years. Daily transaction activity in terms of USDT in 2020 went from $50 million to $500 million, with activity currently at about $4 billion.
The shift is a testament to TRON’s vast network in the cryptocurrency arena and its growing participation in decentralized finance.
Interestingly, on-chain data indicates that transaction activity on TRON is currently at a level that is five times that on centralized exchanges (CeX). The trend is towards decentralization as users increasingly shift towards TRON’s blockchain from traditional trading.
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