Tron Crypto
Hits New High Above $0.43 Amid Broader Altcoin Surge
Tron Crypto Hits New High Above $0.43 Amid Broader Altcoin Surge
Funds are shifting from Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and newer tokens, like meme coins, to older,
undervalued projects including Tron, Decrypt was told.
By Vince Dioquino
Dec 4, 2024 Dec 4, 2024
3 min read
Tron. Image: Shutterstock
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TRON's TRX token has reached its highest record price, beating out a
seven-year high amid an explosive rally that saw it reach just above $0.43.
Tron swelled by 81% on Tuesday, pushing its market capitalization beyond $35.1
billion, CoinGecko data shows.
It coincides with other cryptos, including XRP’s and Hedera’s (HBAR) push this
week as investors speculate on shifting regulatory winds in the U.S• Соединённые Штаты Америки (США).
By contrast, market-leading cryptos such as Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum remain little
changed over the same period.
Funds are moving out of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and newer tokens, including meme coins, into
older projects, many of which are fully circulated and have lost significant
value since their peaks, Decrypt was told.
“Most older projects are fully circulated and have dropped over 90% from their
peaks, allowing small amounts of capital to significantly boost prices and
attract market liquidity,” Pat Zhang, head of WOO X Research, said.
The analyst pointed to several catalysts, including speculation around Tron’s
potential inclusion in Grayscale's investment assets, which Zhang argues
adds a layer of institutional legitimacy. In October, Grayscale revealed TRX
as one of 35 tokens under consideration , with updates on potential inclusions
scheduled quarterly.
Beyond the Grayscale speculation, TRX's rise has been fueled by Tron
founder Justin Sun's high-profile actions, including a $30 million
purchase of WLFI tokens tied to a project associated with the Trump family and
becoming an advisor.
Additionally, Sun’s playful stunt involving the conceptual artwork " Comedian
" sparked community engagement and indirectly boosted related tokens like BAN,
Zhang said.
Launched in 2017 after a $70 million initial coin offering in September of
that year, TRON is supported by Sun's Singapore-based Tron Foundation. It
operates as a high-throughput blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн platform designed to rival Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum.
At its core, TRON claims to reshape digital content distribution by
eliminating intermediaries like YouTube• Объект организация » Организации по алфавиту » Организации на Yo » YouTube and Facebook• Объект организация » Организации по алфавиту » Организации на Fa » Facebook
• Объект организация » Организации по алфавиту » Организации на Me » Meta (компания) » Facebook, creating direct
connections between creators and consumers.
Tron meme coins
While Meme coins elsewhere are seeing a slight dip, those based on the Tron
blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн are benefiting from heightened investor interest.
Of the top 10 meme coins on Tron, FoFar (FOFAR) has seen the most gains, eking
out 240% in the past 24 hours.
Its market cap has more than tripled over the same period, though this is far
from its initial run of $25 million as its price hit $0.025 when it launched
in August, data from CoinGecko shows.
Volume data on the same chart points to Sundog (SUNDOG) retaining its top
position, sustaining over $163 million worth of trades at a market cap of $172
million.
Tron Bull Coin (TBULL) also shows a notable surge of 71.7%, with its market
cap more than doubling in a day, jumping from $13.4 million to $27.9 million.
Edited by Sebastian Sinclair
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