As a seasoned researcher with years of experience in the crypto market, I must admit that the recent 97% rally of Tron’s TRX token within a day is nothing short of astonishing. The surge from $0.15 to a new all-time high of $0.45 and the subsequent increase in market cap from $19 billion to $34.5 billion has been a spectacle to behold.
As a crypto investor, I’ve witnessed an incredible 97% surge in just one day for Tron’s TRX token, reaching a stunning new all-time high of $0.45. Currently, it’s trading at approximately $0.399, representing a significant 74.5% increase over the past 24 hours. This sudden spike has elevated TRX’s market cap from a staggering $19 billion to an impressive $34.5 billion. Over the last month, TRX has seen a remarkable gain of 140%, and year-to-date, it has outperformed broader market trends with an astonishing 280% growth.
The rally occurred amid bullish sentiment for legacy crypto assets, even as Bitcoin and Ethereum remained flat. Other tokens, including IOTA (+50%), VET (+15%), and KDA (+44%), also saw significant gains.
The active participation of Justin Sun, founder of Tron, in World Liberty Financial (WLFI), a DeFi project that Donald Trump supports, has sparked interest. Not long ago, Sun invested $30 million in WLFI tokens and took on an advisory role. Additionally, he gained attention for purchasing the renowned banana artwork at Sotheby’s auction.
Sun subtly suggested that TRX might challenge XRP‘s position in a recent post on social media platform X (formerly Twitter). After experiencing a surge that propelled it to third place by market capitalization among cryptocurrencies, XRP has since experienced a dip, decreasing by 7% to $2.5 over the past day.
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2024-12-04 11:49