KEY POINTS
- $TRX gained nearly 80% in the last 24 hours, moving closer to the Top 10 crypto coins
- Multiple TRON memecoins also surged in the past day, including $SUNCAT and $SUNDOG
- TRON's Justin Sun has been busy in recent days, with the blockchain receiving an innovation award in Dubai
TRX, the native cryptocurrency of the TRON blockchain, has overtaken its January 2018 all-time high above $0.30 to play at around $0.40 Tuesday night, marking a major milestone in the altcoin's journey toward the Top 10 most valuable crypto assets.
As of early Wednesday, TRX has gained nearly 80% in the last 24 hours amid a seven-day rally of 74% gains. The token's 30-day chart also logged a 147% increase, placing it among the top ranks of the Moonvember top performers. It is currently on the 11th spot on CoinGecko and a few millions away from Lido Staked Ether (STETH).
Crypto Community Pays Homage to $TRX's Arduous Journey
As news of TRX's new milestone hit social media feeds, cryptocurrency users expressed their joy for the TRON blockchain and its long road toward the top ranks.
Popular crypto YouTuber MMCrypto noted that TRX took seven years before it finally broke its previous all-time high, and thus deserves to be shown "respect." He said TRX is "one of the very few cryptos which beat Bitcoin over multiple cycles."
Crypto enthusiast Ben Armstrong acknowledged that TRX's "moonshot" overnight wasn't really on the cards of most people for this bull run, indicating that TRX may have been outshined by some other top performing altcoins such as XRP.
On Gate.io, TRX was the top daily gainer, spiking by over 75%. Crypto influencer Ash Crypto pointed out that TRX added a staggering $17 billion to its market cap in the last two days.
🔥 https://t.co/8kWqgEeplL Top5 Daily Gainers
— Gate.io (@gate_io) December 4, 2024
1️⃣ $TRX +75.10%
2️⃣ $IOTA +43.60%
3️⃣ $HYPE +36.80%
4️⃣ #VIRTUAL +30.80%
5️⃣ $JASMY +25.20%
Which coins are you trading today?
📈 Trade Here: https://t.co/1IGuuhxCrX#Gateio #TopGainers pic.twitter.com/GNXSDe21eH
$TRX Spike Triggers TRON Memecoins' Surge
The TRX token's week-long rally has apparent affected other memecoins on the TRON blockchain, including top performer SUNDOG, which gained over 28% in the last 24 hours.
The bigger story is the Tron Bull Coin (TBULL), which saw gains above 66% in the past day amid a week-long increase of 122%. Other TRON memecoins that also had a spectacular 24-run were Sugar Boy (SUGAR), SUNCAT, and PUSS.
TRON Founder's Recent Ventures
While TRX is riding the altcoin season wave alongside XRP and several other alternative cryptocurrencies that are outperforming BTC, some observers believe TRON Founder Justin Sun's latest moves have also contributed to the digital coin's ascent.
For instance, Sun bought the popular banana taped to a wall artwork and then ate it days later. He has also been added to the advisory board of World Liberty Financial (WLFI), the DeFi project backed by U.S. President-elect Donald Trump.
On Tuesday, Sun received the Pioneer of the Crypto Future Award, while the TRON blockchain was awarded with the Global Blockchain Ecosystem Innovation trophy at the Wiki Finance EXPO in Dubai.
🌟 Congratulations to @justinsuntron and @trondao for winning this great honor!
— WikiEXPO (@Wikiexpo_global) December 3, 2024
At Wiki Finance EXPO Dubai 2024, Justin Sun was awarded the "Pioneer of the Crypto Future Award" in recognition of his pioneering contributions to the blockchain and crypto fields; pic.twitter.com/KfE57hBqd8
Which Token Will Surge Next?
While it remains to be seen which altcoins will follow the same path that XRP and TRX took in recent days, some assets within the Top 50 ranks have shown significant growth in November, positioning them for a potential surge.
One of which is Uniswap (UNI), which increased over 110% in the last 30 days, and SUI, which logged a moderate spike of 97% in the past month.
There are also several other coins that started December on a high note, including Stellar (XLM), which grew by over 500% in the past month, making it a potential frontrunner in the upcoming altcoin season.
