Space Recap | Three Major Engines Driving a New Bull Market Cycle: How Does TRON Define the "Infrastructure Camp" Survival Rule?
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Space Recap | Three Major Engines Driving a New Bull Market Cycle: How Does TRON Define the "Infrastructure Camp" Survival Rule?
The "infrastructure faction" represented by TRON is building the foundation of digital finance with an ecosystem network that offers lower costs, higher efficiency, and broader coverage.
Navigating Web3 tides with focused insightsHalfway through 2025, the crypto market stands at a critical juncture marked by intertwined uncertainty and opportunity. At 8 PM on June 10, #SunFlash Roundtable launched an in-depth dialogue on X Space with the theme "Storm Brewing or Momentum Building: Where Is the Crypto Market Headed?" This edition brought together seasoned industry KOLs to directly address core market anxieties, explore survival dynamics for major coins and new narratives, and help investors navigate rational paths through the fog.
The crypto market in 2025 is volatile and complex, characterized by dual-layered dynamics. Bitcoin (BTC) repeatedly tests the $110,000 threshold, while institutional capital flows steadily into ETFs, pushing trading volumes to record highs—signs that should signal a bull market—but these are overshadowed by rising geopolitical tensions and fluctuating global inflation expectations. Meanwhile, waves of new narratives such as AI, Meme coins, and RWA intensify market fragmentation.
Against this backdrop, the differentiated survival logic of major cryptocurrencies and the vitality of their ecosystems have become key indicators of true market health. This article distills core insights from the roundtable discussion, analyzing future market trends and TRON's strategic positioning and growth momentum during this pivotal phase.
1. BTC Breaks $110K: Three Engines Powering a New Bull Cycle
In June 2025, BTC surged past $110,000, prompting a crucial question amid the noise: Is this rally the beginning of a new bull market or the final stage of a bubble? Participants in this Space reached consensus based on on-chain data and historical patterns: growing holdings by institutions and whales, the post-halving cycle, and inflows via spot BTC ETFs form three compelling pieces of evidence indicating that the crypto market is entering a new growth phase.
● Institutional Accumulation Shapes Market Structure
Digging into on-chain data, Juejin Xiao Wu observed deeper shifts: "Institutions are becoming the market’s bedrock—they don’t create hype, but quietly accumulate strength. On-chain data shows accelerating institutional positioning and sustained accumulation by whales, reflecting unwavering confidence in BTC’s long-term value." Wang FengAnc’s data further supports this: since November 2024, the number of addresses holding over 1,000 BTC has steadily increased. These institutional and whale users serve as foundational pillars driving BTC toward new highs.
● Halving Cycle Points Toward All-Time Highs
"Macro disruptions are mere ripples; the halving cycle is the real tide shaping prices," said Mr. Bai, citing BTC’s decade-long historical cycles. He noted: "Historically, BTC peaks around 518 days after each halving—an unbroken pattern. Based on the April 2024 halving, we expect a peak between August and December 2025, targeting $150,000."
● Fundamental Shift in Market Structure
The approval of BTC spot ETFs has transformed the player landscape. Mr. Bird (Mi Si) emphasized: "This is no longer just retail frenzy. After the launch of spot BTC ETFs, firms like BlackRock aggressively absorb liquidity—the 'main force' is rewriting the rules of the bull market." He added: "This shift means markets will move from emotion-driven to institutionally and compliance-led."
2. Altcoin Market Fragmentation and TRON’s Value Reassessment Logic
With rising industry attention, multiple KOLs anticipate capital gradually spilling into altcoins, yet unanimously stress that the era of broad-based altcoin rallies ("rising tide lifts all boats") is unlikely to return. Only select protocols with technical moats, real revenue, and strong user stickiness will attract meaningful investment.
● Structural Opportunities Amid Fragmentation
Crypto Da Shan highlighted structural changes in the altcoin market during the Space: "Overall altcoin volatility remains high and trends downward, with market sentiment as the dominant driver." He observed that only a few technically solid projects with real-world applications—such as TRON—are capable of carving independent trajectories even under BTC-dominated conditions.
● Investment Strategy Evolution: From Hype Chasing to Value Holding
To tackle the central question—"How do we identify undervalued projects?"—Mr. Bird proposed a cognitive shift: "Altcoin investing must abandon the old mindset of 'rotational gambling' and focus instead on 'infrastructure-strong' potential gems." Crypto Da Shan elaborated on selection criteria: Technology forms the foundation for survival, real-world use cases ensure sustainable demand, protocol revenue validates business models, and user activity reflects ecosystem vitality. Only 'builders' meeting all four criteria possess revaluation potential.
The TRON ecosystem exemplifies this philosophy:
1. Developer-Friendly Architecture: Leveraging high throughput of 2,500 TPS and near-zero friction costs, TRON has built a globally accessible普惠 financial infrastructure. Its EVM-compatible virtual machine allows Solidity developers to seamlessly migrate smart contracts.
2. Hard Use Cases: TRON has established a global fintech matrix through a three-tier architecture: stablecoin payment networks, DeFi liquidity engines, and Meme economic infrastructure. As of June 2025, its ecosystem achieved multi-dimensional breakthroughs: TRC-20 USDT accounts for 51% of global circulation; JustLendDAO TVL exceeds $6.4 billion, maintaining leadership in lending markets; JUST protocol TVL surpasses $9.7 billion; decentralized exchange Sun.io reaches $740 million TVL; Meme token fair-launch platform SunPump has facilitated creation of over 98,000 tokens; cross-chain protocol BTTC has processed over 290 million transactions with more than 7.6 million smart contracts deployed.
3. Protocol Revenue Generation: In May alone, TRON protocols generated over $343 million in revenue—a new record—with average daily earnings reaching $11 million.
4. User Retention Moat: TRON’s DeFi TVL exceeds $5 billion (ranked fifth across all chains), with 2.48 million active addresses in the past 24 hours.
3. TRON’s Solution for the Meme Sector: How SunPump Redefines Structural Opportunity
During the roundtable, Mr. Bai highlighted the Meme sector’s role as an ecosystem engine: "Memes are not only core catalysts of bull markets but also barometers of market sentiment. Whether it was Dogecoin (DOGE) leading the 'zoo carnival' in 2021 or the new cycle in 2024, Memes have consistently served as gateways for new capital inflows." Mr. Bird expanded on its deeper value chain: "Memes provide the lowest barrier to entry in crypto. Newcomers might start with a dog-themed meme coin, complete their first on-chain interaction, and eventually evolve into long-term BTC holders." This 'entertainment gateway → on-chain experience → value retention' funnel transforms external observers into active participants at scale.
As the commercial value of emotional consensus gains validation, major public chains are racing to build closed-loop Meme economies. Among them, SunPump on TRON has emerged as a textbook case. With AI-powered tools like one-click token launch (AI Agent) and "tweet-to-mint" functionality via SunGenX, SunPump has reduced Meme creation barriers to near zero, enabling users to launch over 98,000 tokens and generating 37 million TRX in revenue for the platform.
With traffic surging, SunPump has fueled broader prosperity across the TRON ecosystem. Trading volume on SUN.io saw significant growth following SunPump’s launch, while other DeFi platforms like SunSwap and JustLend benefited from the traffic dividend. After SunPump’s release, DEX activity on TRON reached its highest level since 2022.
SunPump has become a converter linking new users to underlying infrastructure—validating Mr. Bird’s assertion: High-quality Meme protocols can strengthen a blockchain’s fundamentals rather than merely acting as 'vampire attacks' draining value.
4. Conclusion
As BTC charges toward new highs, the crypto market is undergoing profound restructuring beyond surface-level noise. TRON demonstrates remarkable ecosystem resilience, building a "self-sustaining crypto finance loop" grounded in stablecoins, powered by Meme-driven traffic, and driven by internal ecosystem circulation. The "infrastructure-focused" approach represented by TRON leverages lower costs, higher efficiency, and broader reach to lay the foundation for digital finance. When technology returns to serving real utility, the market will naturally crown value with real money.
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