TRON at Its peak value

The TRX token of the TRON platform reached a new all-time high of $0.43, recording an 85% daily increase. Within 24 hours, market capitalization surged from $19 billion to an impressive $36.7 billion, according to CoinGecko. At the time of publication, the price stabilized at $0.37, which still represents a 70% gain in a single day.

The digital asset has grown by 140% over the past 30 days, significantly outpacing most cryptocurrencies. Since the beginning of the year, it has risen by over 280%, making it one of the market's top-performing assets.

The market in motion

The rise of TRX occurred amidst a broader revival in the cryptocurrency market. While leaders like Bitcoin and Ethereum remained stable, other projects showed significant progress. For instance, IOTA grew by 50%, VET increased by 15%, and KDA saw a 44% rise. However, TRX stood out notably thanks to a series of key events that captured the attention of investors and experts.

Justin Sun's role and DeFi projects

TRX founder Justin Sun recently invested $30 million in tokens from the World Liberty Financial (WLFI) project associated with Donald Trump. He also joined the project as an advisor, strengthening investor confidence. Additionally, Sun attracted attention by purchasing a banana-themed artwork at a Sotheby’s auction, further elevating his public profile.

The battle for attention

Interest in the TRX token increased amid weakening positions of XRP, which recently demonstrated impressive growth but fell 7% in the last 24 hours to $2.5. Justin Sun stated in his post on X (formerly Twitter) that TRX could become "the next XRP." This statement caused a wide resonance and likely contributed to the strengthening of TRX's position.