TRON (TRX) reaches a new all-time high after nearly 7 years

Share This Post

TRON (TRX) reached a new all-time high at $0.41, nearly seven years after the first time it registered its last price peak, according to TradingView data.

The new all-time high comes after a 81% price leap over the past 24 hours, making TRX the 10th largest crypto by market cap.

TRX’s previous price record was $0.23 on Jan. 4, 2018. The price increase comes amid Bitcoin’s (BTC) choppy movement in the past few days, as the market fights to gather buying pressure to counter long-term holders’ realizing profits. In the past 24 hours, BTC slumped 0.8%, priced at $95,487.17 as of press time.

Additionally, Ethereum (ETH) is struggling with a 1.1% correction, priced at $3,582.62. ETH price increases traditionally led other altcoins to good performances in past bull cycles, which made TRX reach a new price peak before ETH shift market movements.

Over the past 30 days, TRX has climbed 164%.

There is no apparent reason behind the TRX price increase. TRON’s network is famous for its stablecoin usage, especially regarding Tether USD (USDT) transfers.

According to Artemis data, in the past 30 days, TRON reached $24.3 billion in stablecoin transfer volume, only bested by Ethereum’s $35 billion. Additionally, the stablecoin supply in the network is $59.6 billion, the second largest.

Justin Sun launched TRON in late 2017 amid the initial coin offering (ICO) frenzy that marked that bull run. The network was created to be an “Ethereum killer,” a title given to several layer-1 blockchains that aim to be faster than Ethereum as an infrastructure for smart contracts.

The post TRON (TRX) reaches a new all-time high after nearly 7 years appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin 30-Day Trader Profits Back In ‘Healthy’ Range, Is BTC Ready For $100,000?

On-chain data shows the unrealized gains of the 30-day Bitcoin investors are now back inside the historical ‘healthy’ zone, a sign that could be bullish for BTC Bitcoin MVRV Ratio For

Ethereum Whale Turns Extremely Bullish On $ETH Tokens!

The post Ethereum Whale Turns Extremely Bullish On $ETH Tokens! appeared first on Coinpedia Fintech News A whale named “kamisatoayakaeth” has expressed its optimism on the largest altcoin

Ethereum ETF Records 4,363% Increase In November 2024!

The post Ethereum ETF Records 4,363% Increase In November 2024! appeared first on Coinpedia Fintech News During November, which was considered to be the most bullish month ever, the nine Ethereum

Framework Ventures Deposits 6.5 Million $SNX Tokens!

The post Framework Ventures Deposits 65 Million $SNX Tokens! appeared first on Coinpedia Fintech News As per the latest news, Framework Ventures which is the largest single Synthetix holder and

Is Altcoin Season Here to Stay? Raoul Pal’s Take on Bitcoin, Ethereum & Dogecoin

The post Is Altcoin Season Here to Stay Raoul Pal’s Take on Bitcoin, Ethereum & Dogecoin appeared first on Coinpedia Fintech News The cryptocurrency market is experiencing a surge, led by

Ethereum and Bitcoin ETFs Crush Records Before BTC’s Six-Figure Breakthrough

On Wednesday, ahead of bitcoin’s thrilling leap to $100,000, US spot bitcoin exchange-traded funds (ETFs) pulled in a hefty $55682 million in new inflows Not to be outdone, the nine US spot