Tron Reaches New All-Time High Surpassing $20B Market Cap

• TRX reached a new all-time high value of $0.2422. 
• The market capitalization of Tron went above the $20 billion mark, following an uptrend.

While the entire crypto community set its eyes on XRP awaiting its new all-time high, Tron’s TRX surprised by reaching a new all-time value of $0.2422. The market price of TRX token increased by over 16% amidst Justin Sun calling “TRX, the Next XRP.”

TRX Price (Source: CoinMarketCap )

Tron token TRX has been going on an upward trend for the past month, recording monthly gains of 45% and weekly gains of 25%. After reaching an all-time high value of $0.2422, the token is currently trading above the $0.23 price level with 16% rise in the last 24 hours. Its market capitalization breached the $20 billion mark for the first time in its market history and trading volume is also recording considerable growth of 132%. 

Justin Sun Calls TRX the Next XRP

Tron blockchain founder Justin Sun recently called “TRX the Next XRP” on his X account. Keeping which context he referred to aside, the post added to the already existing hype around the TRX token. 

Justin Sun constantly makes headlines in the crypto industry, be it for his remarkable work through Tron or for his activities such as eating a $6.2 million worth artwork banana. The blockchain and its native TRX token has a loyal community of followers who believe in the potential of the project. 

While the current bullish market scenario played part in its price rally, the real use cases and strong fundamentals also caused the upward trend. Last month, Tron DAO attended Berkeley Security Summit as Platinum Sponsor at DevCon24 and drew attention from the industry. 

Adding fuel to the fire, Justin Sun also made another post on X, stating “TRX=XRP.” Sun’s posts about TRX triggered the price to skyrocket and eventually led to its all-time high of $0.2422. 

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