Key takeaways
- TRON’s TRX token soared to a record high of $0.43 with an 85% one-day gain.
- TRX’s market cap rose from $19 billion to $36.7 billion in 24 hours.
Tron’s TRX token staged a sunshine comeback, exploding 85% within a day, smashing its previous high of $0.23 and soaring to a new high of $0.43, according to CoinGecko data.
At press time, the token was trading at around $0.37, up 70% in 24 hours, pushing its market cap from $19 billion to $36.7 billion.
TRX is up about 140% over the past 30 days, outpacing the broader market’s rise over the same period. The token has risen more than 280% since the beginning of the year.
The sharp rise comes amid a broader market rally for older crypto assets, even as Bitcoin and Ethereum remained flat. Other tokens also saw big gains, with IOTA up 50%, VET rising 15% and KDA advancing 44% over the past 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 advisors. The move came after he bought $30 million in WLFI tokens and became a WLFI voter.
Sun has also been in the limelight after he acquired the famous 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
— HE Justin Sun 🍌 (@justinsuntron) December 3, 2024
XRP, Ripple’s native crypto asset, recently emerged as the market’s darling after its prices surged to close at record highs, turns Solana and Tether to become the third largest crypto asset by market capitalization.
XRP’s bullish momentum has started to cool, falling 7% to $2.5 in the last 24 hours.
