TRON (TRX) Hits Record High After 7 Years
TRON (TRX) has reached a new all-time high of $0.41, marking a significant milestone nearly seven years after its last peak, according to data from TradingView.
The cryptocurrency saw an 81% surge in price over the past 24 hours, propelling it to become the 10th largest crypto by market capitalization.
TRX’s previous record high was $0.23 back on Jan. 4, 2018. This latest price surge comes amidst fluctuations in the Bitcoin (BTC) market, with BTC currently priced at $95,487.17, down 0.8% in the past 24 hours.
Meanwhile, Ethereum (ETH) is facing a 1.1% correction, trading at $3,582.62. Historically, ETH price rallies have influenced positive performances in other altcoins, including TRX.
TRX has seen a remarkable 164% increase in the past 30 days, with its network gaining popularity for stablecoin transactions, particularly involving Tether USD (USDT).
Recent data from Artemis shows that TRON has recorded $24.3 billion in stablecoin transfers over the last month, second only to Ethereum’s $35 billion. The network’s stablecoin supply stands at $59.6 billion, making it the second largest in the market.
TRON was launched by Justin Sun in late 2017 during the ICO boom, positioning itself as an “Ethereum killer” with a focus on faster smart contract capabilities.
The surge in TRX price has caught the attention of the crypto community, with many speculating on the factors driving this remarkable rally.
For more information, you can visit the original article on CryptoSlate.
