Key Takeaways
- The TRX token reaches its highest-recorded price of over $0.28 after an increase of approximately 33% in 24 hours.
- The TRX token has upsurge 65% since November 3.
- Justin Sun expects the growth of TRX by emphasizing stablecoin adoption in the upcoming economies and improving worldwide payment solutions.
- Justin Sun plans to increase the development of Tron through the trading of stablecoins and meme coins that depends on the platforms versatility and efficiency.
- The community members of XRP expect that there is hope for XRP in the battle with the US SEC as Gary Gensler is leaving the commission
On December 3, 2024, the TRX token reaches its highest-recorded price of just over $0.28 after an increase of approximately 33% in 24 hours. The market capitalization of the token reached $24 billion. TRX surpassed the market capitalization of AVAX by more than $3 billion. The token has upsurge 65% since November 3. The token was trading at around $0.162 till that date.
Javon Marks, a social media influencer on X predicted a significant price increase in the tokens’ USD price 24 hours before the Trons upsurge. As per the analysis of Marks TRX continues to rally higher. There is a possibility of full logarithmic follow-through remains that may include an additional +720% upsurge and may reach the level of $1.11. Marks made a similar prediction on Sept 20 when TRX was trading around $0.155.He predicted a price target of $1.11.
Justin Sun, the founder of the TRON network remarked that TRX was destined to become the next XRP. This comparison of TRX with XRP followed the XRP to surge 40% on December 2.XRP reached its peak just below $2.80. XRP also become the number three digital asset by replacing the stablecoin Tether. As per his X post on December 3, he said that the TRX rally is just the beginning.
XRP was in a battle with the US Securities and Exchange Commission(SEC) regarding its standing as a commodity for the past four years. However, the community members expect that there is hope for XRP as Gary Gensler is leaving the commission. There is an expectation that the new SEC chairman taking over from Gensler will have a pro-crypto standpoint. The community believes that he will backtrack on this appeal. This pro-crypto sentiment along with the XRP ETF release has placed the coin into the limelight.
Justin Sun highlighted the dominance of TRX among other stablecoins. He pointed out that the vast supply in the network was important. Tron is ahead of its competitors since it has a stablecoin supply of $60 billion. According to him, the liquidity advantage has increased the appeal of Tron among the traders of meme coins. Projects can migrate to Tron because of its better liquidity and trading volume. The success of the platform in this area was because Tron-based meme coins quickly outperformed the rivals in terms of their active users and revenue. Another batch of meme coins launched by Tron followed significant traction within weeks. These meme coins established itself as a focal point for the growth of new sectors.
Justin Sun expects the growth of TRX by emphasizing stablecoin adoption in the upcoming economies and improving worldwide payment solutions. According to his plans, Tron must have at least one billion users in the coming two years. He is planning to focus more on the underdeveloped Asian markets. He plans to increase the development of Tron through the trading of stablecoins and meme coins that depends on the platforms versatility and efficiency. The advantages of Tron over Ethereum in terms of speed and cost-prevention capabilities against minor attacks are highlighted by him. This adaptability feature would increase the number of people who turn to Tron because of its utility and it will attract many developers and users to the platform.
The broader crypto ecosystem is facing some challenges in the broader cryptocurrency ecosystem.Tron(TRX) and XRP are entering the spotlight. In the past month, XRP was leading the market rally. This surge pushes it close to one of the top ten assets by ranking.
TRON: Data Analsys and Trading Options
If you are interested in being a part of the TRON ecosystem, you can trade the TRX tokens through centralized crypto exchanges. WhiteBit is the most popular option, boosting a trading volume of $1,438,713,377 for the last 24 hours. DigiFinex and Bybit are other popular options for trading TRX. The trading volume of the token is $16,195,363,585 for the last 24 hours. This represents that the project has increased by 505.60% from the previous day. The market capitalization of TRX is $35,481,396,684. TRON is outperforming the global cryptocurrency market with a surge of 106.20% for the last seven days.
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