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Cryptocurrency News Articles
Here's Why Tron (TRX) Hits All-Time High | Key Points | Dec. 04, 2024
Dec 04, 2024 at 02:30 pm
TRX has hit $0.4313, an all-time high.
Tron (TRX) price hits an all-time high at $0.4313. TRX has been surging over the past seven days following a breakout from a key resistance level.
After hitting a seven-year low of $0.04 in June 2023, TRX has now surged over 1,000%. As a comparison, Bitcoin (BTC) has gained 220% during the same period.
What’s interesting about this Tron surge is that it’s coming at a time when Bitcoin and Ethereum have been relatively flat over the past seven days. As we reported, this has led to some traders speculating that money made from BTC is flowing into older, more legacy projects.
For instance, XRP and Cardano (ADA) prices were breaking records last week. Tron’s last major surge was in 2017, and since then, it has largely been known as the blockchain where a majority of Tether (USDT) transactions take place.
According to Decrypt, memecoins on Tron are also seeing some momentum. As an example, XRP memes are being minted as non-fungible tokens (NFTs) on the blockchain.
We can expect to see older crypto projects continue surging as they’re mostly 90% down, making them more sensitive to new liquidity.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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