Introduction
The cryptocurrency market witnessed a massive shake-up as TRON’s TRX token skyrocketed by 85% in a single day, setting a new all-time high of $0.43. With its market capitalization crossing $36 billion, TRX has firmly established itself as one of the top-performing crypto assets of the year. This dramatic rise comes amid founder Justin Sun’s involvement in a high-profile DeFi project backed by Donald Trump.
Key Highlights:
TRX Price Surge: TRX hit a record high of $0.43, up 85% in just 24 hours.
Market Cap Milestone: TRX’s market value soared from $19 billion to $36.7 billion.
Yearly Gains: TRX has gained over 280% since the start of the year.
Broader Market Rally: While Bitcoin and Ethereum remain flat, tokens like IOTA and KDA also posted significant gains.
Driving Factors Behind TRX’s Rally
The sharp rise in TRX is attributed to Justin Sun’s recent venture into World Liberty Financial (WLFI), a DeFi project with backing from Donald Trump and his sons. Sun’s $30 million investment in WLFI tokens and his advisory role have sparked renewed investor confidence.
Additionally, TRX’s recent bullish momentum mirrors the surge in Ripple’s XRP token, which has gained traction after achieving a new record high. Sun has hinted at TRX’s potential to follow XRP’s trajectory, adding to the market’s excitement.
Justin Sun in the Spotlight
Apart from his DeFi initiatives, Sun has drawn attention for acquiring iconic artwork, including the famous banana piece from Sotheby’s. His active involvement in crypto projects and public appearances have bolstered TRON’s visibility and credibility.
Broader Market Context
While TRX leads the rally, other altcoins have also experienced notable gains. IOTA jumped 50%, VET increased by 15%, and KDA advanced 44% in the last 24 hours. This comes as Bitcoin and Ethereum continue to trade sideways, suggesting a shift in investor focus toward alternative crypto assets.
