Justin Sun’s Tron has been making headlines lately. The asset went on to surge to a high of $0.4407. This spike shook the entire market as the altcoin has faced backlash for its sluggish movement in the past. But TRX’s latest surge has instilled the possibility of a potential rise towards the $1 zone.
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Tron’s TRX Surges By 80%
Over the past 24-hours, TRX witnessed a nearly 80% uptick. At press time, the asset recorded a slight setback. The altcoin was trading at $0.3908 following a 66% increase. Tron’s cryptocurrency is currently 9.48% below its peak.
Through this, Tron has entered the top ten and is currently trading as the tenth-largest cryptocurrency in the market. The altcoin’s market cap presently sits at $33.66 billion. In addition, the daily volume of the asset saw a notable 529% sike and was $14.56 billion. A boost in volume during a bull run reinforces the upward momentum.
According to data from IntoTheBlock, the number of daily large transactions in the Tron network also surged. These significant transactions stood at $990 million after witnessing a spike of 128%. All of these increases in several metrics
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Will $1 Become A Reality Soon?
Currently, TRX is trading lower at $0.39, thus making it far from the $1 line, sitting at about 156% away from that figure for the moment. Most of the cryptos seek to achieve that hallmark, the $1 mark, across a number of networks. It’s a tough bar to reach, but not impossible. According to CoinCodex, TRX is expected to record a new all-time high of $0.480. This marks a 24% spike from its current price level.
Amidst this, Justin Sun stated on X (formerly Twitter) that TRX is the “Next XRP.” Sun’s postings, including “TRX = XRP,” have caught the attention of the entire market. This is not only the Tron network but also the XRP community. Several have even predicted that TRX would follow XRP’s course.
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