Tron Extracts Maximum Benefits from Stablecoins: Is TRX Undervalued in the Top 10?

Tron is a top 10 coin, flipping Cardano and Hyperliquid. However, TRX could be undervalued, looking at its solid performance and profitability.

Tron is a top-10 crypto, and as of June 16, 2025, TRX was the ninth most valuable crypto, outperforming Cardano and Hyperliquid. Although TRX is down 4.5% in the past week, trailing Solana and Ethereum in the top 10, some analysts believe TRX could be one of the most undervalued coins.

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Tron Has A Booming Ecosystem

Their conviction stems from Tron’s status as a potentially overlooked crypto powerhouse, supported by solid metrics over the past year.

Besides being a go-to platform for stablecoin transfers, the network has rewarded validators generously through fees. This thriving stablecoin economy, coupled with higher revenue than any other chain, including Solana and Ethereum, suggests TRX may be deeply undervalued at its current valuation.

For a clearer picture, the TRXUSDT price chart summarizes recent trends. While Bitcoin, Solana, and Ethereum trended lower in H1 2025, TRX remained mostly stable.

TRX prices held firm while some of the best cryptos to buy slid in Q1 2025 and benefited from the stablecoin boom and regulatory tailwinds.

Currently, TRX is down nearly 40% from its 2024 highs but remains within a bullish breakout formation following gains from the second week of May 2025.

(TRXUSDT)

If Bitcoin recovers sharply, altcoins, including TRX, are likely to rise, possibly posting higher gains than Bitcoin due to its lower market cap.

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Is TRX Undervalued? What’s Driving Demand?

Geopolitical factors could support Bitcoin, but for TRX, demand is driven by its dominance in the stablecoin market.

As of June 16, 2025, the global stablecoin market stood above $260 billion, with USDT by Tether Holdings dominating at over $155 billion.

TronScan data shows that over $78 billion of all USDT circulates on Tron.

(Source)

An analyst on X highlights that this dominance in USDT transfers makes Tron a cash machine.

Over the past year, Tron generated $3 billion in revenue, far surpassing Ethereum’s $825 million and nearly tripling Solana’s $432 million.

Due to this stellar revenue, Tron posted $268 million in net earnings.

Meanwhile, Solana, the home of some of the best meme coin ICOs, and Ethereum, the DeFi powerhouse, posted multi-billion-dollar losses.

Indirectly, superior revenue pushed the Tron P/E ratio lower to 96.

(Source)

Based on these metrics, Tron is profitable yet valued at only $25.7 billion, looking at Coingecko data.

In contrast, Ethereum and Solana, both operating at a loss, have market caps of $317 billion and $82 billion, respectively.

If valued like Ethereum or Solana, the analyst thinks the Tron market cap could be above $1 trillion.

It remains to be seen whether its market cap will continue growing. However, the blockchain will likely maintain its central role in stablecoin transfers.

In the United States, the passing of the GENIUS Act into law could incentivize the launch of more compliant stablecoins.

As a proven, efficient chain for stablecoin transactions, Tron could attract more stablecoins, further driving demand for TRX.

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