As a seasoned crypto investor with a decade of experience under my belt, I must admit that the surge of Tron (TRX) has caught my attention. Having witnessed the crypto market’s ebb and flow, I can confidently say that this 70% spike within 24 hours is nothing short of remarkable. The fact that TRX is challenging for a top ten position with a market capitalization over $30 billion is truly noteworthy.
Today, it’s the alternative cryptocurrencies (Altcoins) that are taking the front line, with the overall crypto market cap reaching a record high of $3.68 trillion, while Bitcoin continues to move within a set price range.
In the last 24 hours, Tron (TRX) has been the top-performing digital asset, surging by an impressive 70%. This significant increase took its value to a record high of $0.431 during early Asian trading on Wednesday morning.
This surge has propelled TRX’s total market value above $30 billion, as the asset competes to secure a spot among the leading ten.
Tron in Banana Zone
Additionally, it’s worth noting that TRX prices have significantly increased in the last week, nearly doubling from around $0.20 to their current levels. However, at the time of writing, the asset appears to be pulling back and is being traded at approximately $0.374, as reported by CoinGecko.
On December 4th, ‘Blockchain Backer’ remarked to their 306,000 followers that Tron (TRX) making a breakout gives a strong indication of hope for the rest of the market.
As an analyst, I find it noteworthy to mention that this particular coin was among those that failed to establish a new all-time high in the year 2021. However, what makes it intriguing is its potential to surpass both its performance from 2021 and its peak achieved in 2018 with this recent move. If this fact doesn’t pique your interest, then I suggest you take a closer look.
Until today, TRX’s previous ATH was $0.231, hit almost seven years ago in January 2018.
The breakout by Tron (TRX) offers a serious glimmer of optimism to the rest of the market.
In 2021, most coins failed to reach a fresh record high. However, this recent movement allows them to exceed their levels from both 2021 and 2018. If this fact doesn’t excite you, it certainly should!
— Blockchain Backer (@BCBacker) December 4, 2024
Kingpin Crypto mentioned, “I believed it would hit a new all-time high in 2025.” Later, he exclaimed, “Justin Sun truly outperformed expectations this year.
The Tron founder commented that six years later, the network was still here and still building.
6 years later.
Still here.
Still #BUIDLing.Things have changed, but one thing hasn’t: #TRON remains a top 10 contender.
— H.E. Justin Sun (@justinsuntron) December 3, 2024
As an analyst, I’ve noticed some significant financial moves lately. Specifically, Justin Sun has made a substantial investment of $30 million in WLFI tokens for the World Liberty Financial crypto project, making him its largest investor as announced recently.
He also spent $6.2 million on a piece of art comprising of a banana taped to a wall on Nov. 21.
Binance Coin ATH
Today, only Tron reached a new all-time peak, as Binance Coin (BNB) soared over 20% to touch a record $771.60 during early Asian trading hours on December 4th. The firm marked this achievement with a social media post on X.
BNB reached over $770, hitting a new ATH!
— Binance (@binance) December 4, 2024
BNB prices dipped hard in June 2022 following the SEC lawsuit against the company.
Today, some notable digital currencies seeing significant gains are the longstanding players IOTA and EOS, which have spiked by approximately 40% and 30% respectively. Despite this rise, it’s important to note that they still haven’t recovered significantly from their peak values.
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2024-12-04 10:31