Recently, Tron has exhibited an astonishing performance. It surged 104% in a single day and reached a new all-time high. Among the top-ranked cryptocurrencies by market cap, only Tron achieved such a significant increase. In contrast, Bitcoin dropped to $93,000 on the same day.
Tron’s market cap has now soared to $36 billion, with a trading volume of $10 billion in a single trading day, an increase of nearly 500%. The token price has also risen from $0.21 to $0.43, a 95% gain. The token of this blockchain-based operating system has surpassed the peak in June 2018 and reached a new high of $0.4. The monthly increase has even reached 157%.
As a blockchain with smart contract functions, it has recorded high transactions of Tether’s USDT and has become one of the prominent blockchains in the decentralized finance (DeFi) and trading fields. Ethereum and Ripple’s XRP declined by 0.46% and 5.5% respectively on the trading day.
On December 3rd, Tron’s market cap had already exceeded $20 billion, and now it has surpassed $36 billion. There are predictions that its target price will rise to $1 per TRX, which means there is still a 150% upside from the current price of $0.4. This prediction is based on the fact that the company has handled Tether’s USDT transactions worth over $196 billion, far exceeding Visa. Moreover, the token circulation is only 86 billion, while the highest was 11 billion in 2022, indicating there is still room for growth along with the ecosystem.
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