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 Market is Striking Down With Record-Breaking Liquidations-Here’s What’s Next for Bitcoin & Altcoins 

The post Crypto Market is Striking Down With Record-Breaking Liquidations-Here’s What’s Next for Bitcoin & Altcoins  appeared first on Coinpedia Fintech News Another flush within the crypto

Bitcoin HODLing Rewards: Long-Term Holders Selling At 326% Profit

On-chain data shows that long-term Bitcoin holders have been selling recently as their profits have ballooned to notable levels after the price surge Bitcoin Long-Term Holders Have Been In Huge

Expert Suggests Ripple And XRP Could Be America’s ‘Secret Weapon’

Ripple’s XRP is one of the most-talked-about tokens right now, thanks primarily to its erratic price action, a possibly favorable Securities and Exchange Commission (SEC), and potential benefit to

Canadian Pizza Giant Pokes Fun at Justin Sun’s ‘Banana Art’

The Tron Founder purchased and ate a $62 million banana at an art auction in New York City last month Boston Pizza Releases ‘Affordable’ Pizza Version of Justin Sun’s $62M Banana Tron Founder

Why Is Crypto Market Down Today? Bitcoin Liquidations Hit $1.5 Billion

The post Why Is Crypto Market Down Today Bitcoin Liquidations Hit $15 Billion appeared first on Coinpedia Fintech News The cryptocurrency industry registered heightened volatility in the past 24

Crypto Market Crash: XRP, ADA, and DOGE Down Double Digits; Is This the Final Dip?

The post Crypto Market Crash: XRP, ADA, and DOGE Down Double Digits; Is This the Final Dip appeared first on Coinpedia Fintech News The crypto market is experiencing a dip, but for many experts,