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Tron surges to $0.28 as TRX hits all-time high of $24B

Tron surges to $0.28 as TRX hits all-time high of $24B

GrafaGrafa2024/12/04 03:20
By:Isaac Francis

On December 3, Tron’s (CRYPTO:TRX) native token, TRX, reached a new all-time high of just over $0.28 after a significant surge of approximately 33% within 24 hours.

This increase propelled TRX’s market capitalization past the $20 billion mark, reaching around $24 billion by early afternoon.

As a result, TRX climbed to the 10th position on CoinMarketCap and the 11th spot on CoinGecko.

The token has experienced a remarkable rally of 65% since November 3, when it was trading at about $0.162.

The surge in TRX's value coincided with a broader altcoin rally and followed a prediction from social media user Javon Marks, who suggested that TRX could see an additional upside of 720%, potentially reaching $1.11.

Marks had previously made similar predictions when TRX was trading at around $0.155.

In the lead-up to this price spike, Justin Sun, the founder of the Tron Network, compared TRX to Ripple’s XRP (CRYPTO:XRP), which had surged by 40% just a day earlier.

Sun's comments came after XRP replaced Tether (CRYPTO:USDT) as the third-largest digital asset, peaking at just below $2.80.

On December 3, Sun expressed his enthusiasm for TRX's performance on social media, indicating that this rally is only the beginning for the token.

He also referenced recent political developments in South Korea, where martial law was declared due to alleged anti-state activities within the opposition Democratic Party.

At the time of reporting, the TRON (TRX) price was $0.3816.

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