TRX Hits Record High of $0.2422 as Market Cap Surpasses $20 Billion
Tron’s native token, TRX, surprised the crypto market by reaching a new all-time high of $0.2422, gaining over 16% in the past 24 hours. The market capitalization of TRX crossed the $20 billion threshold for the first time, with trading volumes surging by 132%. This achievement comes as the broader crypto community focused on XRP, with Tron’s rise catching many by surprise. 
TRX’s Impressive Performance
Over the past month, TRX has recorded a 45% gain, with 25% growth in the past week alone. Despite pulling back slightly, the token is currently trading above $0.23, maintaining strong momentum. The bullish rally reflects not only favorable market conditions but also Tron’s solid fundamentals and increased utility.
Justin Sun: “TRX, the Next XRP”
Tron founder Justin Sun fueled the excitement by referring to TRX as “the Next XRP” in a post on his X (formerly Twitter) account. While the context remains ambiguous, the statement added to the hype surrounding the token and helped drive its price to a record high.
Sun, a prominent figure in the crypto industry, is known for his ambitious moves and bold statements. His efforts to promote Tron, along with his occasional headline-grabbing antics—such as purchasing a $6.2 million banana artwork—have helped build a loyal community around the project.
Fundamentals Supporting TRX’s Rally
Beyond the market hype, Tron’s upward trend is underpinned by its strong fundamentals and practical use cases. Last month, Tron DAO gained attention at DevCon24 as a Platinum Sponsor at the Berkeley Security Summit. The project’s participation highlighted its technical capabilities and ongoing efforts to expand its influence in the blockchain ecosystem.
Adding to the excitement, Sun’s posts on X, including one equating “TRX = XRP,” further ignited the rally, propelling TRX to its new peak of $0.2422. As Tron continues to gain traction, its growing market capitalization and increasing adoption suggest a promising future for the token.
