On December 3, 2024, the native token of the Tron network, TRX, reached a new all-time high above $0.28 after a 33% surge in 24 hours. The rally catapulted TRX’s market capitalization past the $20 billion mark, settling around $24 billion by 1:00 p.m. EST, surpassing Avalanche (AVAX) by more than $3 billion.
TRX Enters Top Ten Digital Assets
According to data from CoinGecko and CoinMarketCap, TRX climbed to the 11th and 10th spots respectively. The token has rallied 65% since November 3, when it was trading near $0.162. The surge comes amid a broader altcoin rally, with investors rotating capital into promising layer-1 blockchains.
Analyst Predicts Rally to $1.11
Just 24 hours before the breakout, social media analyst Javon Marks predicted a significant price increase. He told his 46,000 followers: “As $TRX continues to trot higher, the possibility of a full logarithmic follow-through remains, which can include an additional +720% upside from here to the $1.11 levels.” Marks had previously made a similar call on September 20 when TRX was trading around $0.155.
Justin Sun: TRX Is the Next XRP
Shortly before the historic price move, Tron founder Justin Sun quipped on X that TRX was destined to become the next XRP. His comparison followed a 40% surge in XRP on December 2, which saw Ripple’s token peak near $2.80 and replace Tether as the third-largest cryptocurrency by market cap. Sun, reveling in TRX’s rally, told his followers on December 3 that “this is just the beginning.” He also remarked on South Korea’s declaration of martial law that same day due to alleged anti-state activities, though no direct market impact was drawn.
Market Context and Outlook
TRX’s breakout is underpinned by Tron’s dominance in stablecoin transfers—USDT on Tron far exceeds Ethereum in daily volume—and its expanding DeFi ecosystem. With Justin Sun’s high-profile endorsements and technical predictions pointing to $1.11, market observers are watching whether TRX can truly challenge XRP’s position. However, the crypto market remains highly volatile, and investors should exercise caution.