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

As Bitcoin Price  Heads to a 6-Digit Figure, These Altcoins Are Poised to Hit a 4-Digit Figure in 2024

The post As Bitcoin Price  Heads to a 6-Digit Figure, These Altcoins Are Poised to Hit a 4-Digit Figure in 2024 appeared first on Coinpedia Fintech News The crypto trading volume is at its peak

Samson Mow Predicts Bitcoin’s Journey to $1 Million with the “Omega Candle”

The post Samson Mow Predicts Bitcoin’s Journey to $1 Million with the “Omega Candle” appeared first on Coinpedia Fintech News Bitcoin is once again drawing attention as it flirts with the

The Game-Changing Coin That Could Redefine Blockchain Forever What Every Investor Needs to Know in 2024

The post The Game-Changing Coin That Could Redefine Blockchain Forever What Every Investor Needs to Know in 2024 appeared first on Coinpedia Fintech News The cryptocurrency world is no stranger to

Bitcoin Cash and Ethereum Classic Disappoint Investors As Lunex Network Soars During the Bull Run

The post Bitcoin Cash and Ethereum Classic Disappoint Investors As Lunex Network Soars During the Bull Run appeared first on Coinpedia Fintech News While Bitcoin Cash and Ethereum Classic have left

Polish Authorities Arrest Russian ‘Crypto King’ Linked To WEX Exchange $450 Million Collapse

The Polish police detained a Russian citizen linked to the now-collapsed WEX exchange for alleged fraud and money laundering US authorities solicited his extradition for his crypto-related crimes and

Analyst Confirms Ethereum Golden Cross As ETH Surges Past $4,000 – Is Altseason In Sight?

Ethereum (ETH) surged past $4,000 earlier today for the first time since March 2024 Having surpassed a key price level with a golden cross, analysts are confident that this could signal the beginning