Recent events in the crypto world have led TRX, associated with the Tron network, to overtake Dogecoin in market capitalization. This rise is a result of active use and political support.
TRX's Rise in Cryptocurrency Rankings
The TRX token has reached the eighth position among cryptocurrencies, with a market cap of $25.9 billion compared to $25.1 billion for Dogecoin. The growth of TRX is attributed to real-world use cases and increased on-chain activity.
Political Support and Justin Sun's Talks
Justin Sun met with Bo Hines, executive director of the President's Council of Advisors on Digital Assets, to discuss U.S. leadership in cryptocurrency. Sun thanked officials for advancing the GENIUS Act, which adds credibility to the Tron network and instills optimism among investors.
CITE_W_A: "It was a pleasure meeting Bo Hines to discuss U.S. leadership in digital assets." - Justin Sun
Market Situation and TRX's Future
Currently, TRX is trading at $0.2789 and has increased by 137% over the past 12 months. Tron is heavily used for USDT transactions, handling over 65% of on-chain activity. Current technical indicators show bullish momentum. Tron plans further integrations with DeFi and real asset tokenization to expand its ecosystem.
Thus, the rise of the TRX token and its political backing represent a shift in focus within the cryptocurrency market toward tokens with real use cases. If Tron can maintain its position, it could become a key player in the digital asset ecosystem.
