The TRX token has demonstrated an incredible 97% increase within a day, reaching a new peak and securing its position in the market.
Record Growth of TRX
The TRX token recorded an outstanding 97% rally in a single day, hitting a new all-time high of $0.45. It is currently trading at $0.399, marking a 74.5% increase in the last 24 hours. The surge propelled TRX’s market cap from $19 billion to $34.5 billion. Over the past month, the token has gained 140%, and an impressive 280% year-to-date, significantly outperforming broader market trends.
Market Dynamics
The rally occurred amid bullish sentiment for legacy crypto assets, even as Bitcoin and Ethereum remained flat. Other tokens, including IOTA (+50%), VET (+15%), and KDA (+44%), also saw significant gains.
Justin Sun's Influence
Tron founder Justin Sun’s involvement with World Liberty Financial (WLFI), a DeFi project backed by Donald Trump, has drawn attention. Sun recently purchased $30 million in WLFI tokens and joined as an advisor. He also made headlines for acquiring the iconic banana artwork at Sotheby’s. Sun hinted at TRX’s potential to rival XRP in a post on X (formerly Twitter). XRP recently became the third-largest crypto by market cap after its rally to record highs but has since cooled, dropping 7% to $2.5 in the past day.
The remarkable ascent of TRX underscores its potential in the cryptocurrency market. Justin Sun’s interest in new projects and strategic partnership with WLFI further consolidates the token's position.
