TRON jumps 85% to new record high, market cap tops $36 billion

Key Takeaways

• TRON’s TRX token soared to an all-time high of $0.43 with a 85% single-day increase.
• TRX’s market value surged from $19 billion to $36.7 billion in 24 hours.

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Tron’s TRX token staged a sunshine comeback, exploding 85% within a day, shattering its previous high of $0.23, and soaring to a new peak of $0.43, according to CoinGecko data.

At press time, the token was trading at around $0.37, up 70% over 24 hours, pushing its market value from $19 billion to $36.7 billion.

TRX has gained approximately 140% over the past 30 days, outperforming the broader market’s increase during the same period. The token has risen more than 280% since the start of the year.

The sharp rally comes amid a broader market uptick in legacy crypto assets, even as Bitcoin and Ethereum remained flat. Other tokens also saw major gains, with IOTA up 50%, VET rising 15%, and KDA advancing 44% in the last 24 hours, CoinGecko data shows.

Tron founder Justin Sun recently joined World Liberty Financial (WLFI), a DeFi venture backed by Donald Trump and his sons, as an advisor. The move came after he bought $30 million in WLFI tokens, becoming a WLFI whale.

Sun has also been in the spotlight after he acquired the renowned banana artwork at a Sotheby’s auction.

In a recent post on X (formerly Twitter), Sun suggested that TRX could be the next XRP.

TRX=XRP

— H.E. Justin Sun 🍌 (@justinsuntron) December 3, 2024

XRP, Ripple’s native crypto asset, recently emerged as the market darling after its prices rallied sharply to close at its record high, flipping Solana and Tether to become the third-largest crypto asset by market cap.

XRP’s bullish momentum has begun to cool off, dropping 7% to $2.5 in the last 24 hours.

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