The cryptocurrency market witnessed another milestone as Tron's native token TRX reached a new all-time high on December 3rd, surging approximately 33% in just 24 hours to peak at $0.28.
The remarkable price surge catapulted TRX's market capitalization beyond $24 billion, securing its position among the top 10 cryptocurrencies by market value. This achievement placed TRX ahead of AVAX by more than $3 billion in market capitalization.
The token's impressive performance extends beyond the recent spike, showing a 65% increase since November 3rd, when it traded at around $0.162. This upward trajectory caught the attention of market analysts, including social media influencer Javon Marks, who predicted potential further gains up to $1.11, representing a possible 720% increase from current levels.
Justin Sun, the founder of the Tron Network, celebrated the token's success by drawing parallels between TRX and XRP's dramatic surge. His comparison followed XRP's remarkable performance on December 2nd, which saw the token briefly reach $2.80 and temporarily overtake Tether as the third-largest digital asset.
The cryptocurrency community closely watches TRX's momentum, as Sun declared on social media platform X that "this is just the beginning." The token's performance adds to the broader altcoin rally currently sweeping through the crypto markets.
Market data from popular cryptocurrency tracking platforms Coingecko and Coinmarketcap confirmed TRX's elevated status, placing it in the 11th and 10th positions respectively, marking a new chapter in the token's journey since its inception.