The TRON blockchain, despite leading in illicit crypto activity in 2024, has witnessed a significant drop in such transactions. This success is attributed to the collaborative efforts of TRON, Tether, and TRM Labs through the T3 Financial Crime Unit (T3 FCU). The initiative has frozen over $130 million in illicit proceeds, bolstering user trust and driving TRX price upwards.
The blockchain has been striving to combat criminal activities by restricting and confiscating assets obtained through illicit means. To bolster this effort, prominent players like TRON , Tether, and TRM Labs united in 2024 through the T3 Financial Crime Unit ( T3 FCU ). This collaboration yielded positive outcomes for TRON , which experienced a notable decline in illicit activity despite leading the pack with 58% of illicit crypto volume in 2024.
Ethereum followed with 24%, Bitcoin with 12%, Binance Smart Chain with 3%, and Polygon with 3%. This dominance of TRON can be attributed to its low transaction fees, smart contract functionality, and the popularity of its stablecoins. However, a significant drop in illicit volume occurred on the TRON blockchain, amounting to a $6 billion reduction, with the proportion of such activity nearly halving. Notably, 49% of Tron’s illicit volume was linked to sanctioned entities, while 32% involved blacklisted funds. This decline can be attributed to TRON's proactive approach in identifying and mitigating illicit actors within its ecosystem. Launched in August 2024, T3 FCU, comprising TRON, Tether, and TRM, aims to foster a public-private partnership to combat illicit activities involving USDT and the TRON Blockchain. Since its inception, T3 FCU has successfully frozen over $130 million in illicit proceeds. This reduction in illegal transactions within the TRON blockchain has a positive impact on TRX, as it fosters trust among users, leading to increased adoption and new user acquisition. Over the past 24 hours alone, TRX demonstrated moderate gains as investors reacted favorably to the positive news surrounding the network. At the time of writing, TRX was trading at $0.244, marking a 3.02% increase over the previous 24 hours, with positive momentum also observed on weekly charts. Technical indicators suggest a bullish trend for TRX.An RSI bullish crossover over the past 24 hours indicates dominance of buyers over sellers, signifying strengthening momentum. Furthermore, the rising MACD line nearing another bullish crossover reinforces the positive outlook. A substantial decline in netflows to exchanges, reaching a negative value, points to a trend of more withdrawals than deposits, suggesting accumulating interest from market participants. Even TRON whales have exhibited bullish sentiment, continuing to purchase TRX. Large holder's netflows turned positive after days of remaining negative, indicating an increase in capital inflows compared to outflows.The decline in criminal activity within the TRON blockchain positions the network for future growth through increased adoption, regulatory approvals, and broader usage
TRON USDT T3 FCU Illicit Activity TRX Price Blockchain Security Crypto Crime
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