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

Crypto All-Stars Soars Past $10M in ICO With Just 11 Days Left – Last Chance to Buy Before Launch

The meme coin sector continues to get more interesting – with Crypto All-Stars (STARS) hitting $10 million in its ICO over the weekend With billions added to the sector’s value over the weekend,

DNA Holdings launches blockchain investment platform with Chintai Nexus

DNA Holdings Venture Inc has unveiled DNA Deal Desk, an exclusive investment platform for high-net-worth individuals, developed in collaboration with Chintai Nexusm, according to a Dec 9 press

Dogecoin Price Consolidates Ahead Of Rally, Can The Next Leg-Up Push It To A $0.74 ATH?

The Dogecoin price shows signs of continued bullish momentum, as a crypto analyst has predicted a potential breakout towards the $074 all-time high This significant price surge is expected to occur

Bitcoin ASIC Maker Bitmain Shifts Gears With US Production Line Amid Incoming Trump Administration

The bitcoin mining machine maker Bitmain is gearing up to roll out a new production line in the US, focusing on its application-specific integrated circuit (ASIC) equipment Bitmain Launches US

Dogecoin Price Prediction: Here’s What The 91-Day Pattern Says Could Happen Next

Crypto analyst Master Kenobi has again alluded to the 91-day pattern to provide insights into where the Dogecoin price could be headed next The analyst suggested that things could turn out

PEPE Joins Crypto’s Top 20, Sets Sights On SHIB: Will PEPU Challenge? 

Guess who just broke into crypto’s top 20 by market cap If you bet on a certain green frog, you guessed right  Pepecoin (PEPE), a frog-themed meme cryptocurrency, has come a long way since its