TRON's TRX token hit an all-time high, beating a seven-year high amid a surge above $0.43.
Tron swelled by 81% on Tuesday, pushing its market capitalization over $35.1 billion, CoinGecko data shows.
It coincides with other cryptos, including XRPs and Hedera (HBAR), as investors anticipate changing regulatory winds in the US.
In contrast, market-leading cryptos like Bitcoin and Ethereum haven't changed much over the same period.
Funds from Bitcoin and new tokens, including meme coins, are flowing into older projects, many of which have been fully distributed and have lost significant value since their peak. Decrypt It was said.
Pat Zhang, head of WOO X Research, said, “Most of the older projects are fully distributed and reduced by more than 90% from the peak, which allows them to significantly increase the value of the small amount of capital and attract the flow of the market.”
The analyst pointed to several motivators, including speculation that Tron could be included in grayscale investment properties, which Zhang said would add institutional legitimacy. In October, Grayscale revealed that TRX was one of 35 tokens under consideration, with potential inclusion updates scheduled quarterly.
Beyond grayscale speculation, TRX's rise has been fueled by Tron founder Justin Sun's high-profile activities, including a $30 million purchase of WLFI tokens on a project linked to the Trump family and becoming an advisor.
Additionally, the Sun Player Stunt, which includes concept artworkComedian“It sparked community engagement and indirectly promoted related brands like BAN,” Zhang said.
In the year Launched in 2017 after an initial coin offering of $70 million in September of that year, TRON is backed by the Singapore-based Tron Foundation. It works as a high-throughput blockchain platform designed to rival Ethereum.
Essentially, TRON claims to revolutionize the distribution of digital content by creating direct connections between creators and users, eliminating intermediaries such as YouTube and Facebook.
Tron meme coins
While meme coins are seeing a slight decline elsewhere, those based on the Tron blockchain are benefiting from higher investor interest.
Among the top 10 Mem coins on Tron, FOFAR has seen the biggest gain, increasing 240% in the last 24 hours.
That's a far cry from its $25 million initial run, as the price hit $0.025 when it launched in August, but its market cap has more than tripled over the same period. Data Shows from CoinGecko.
The volume data on the same chart indicates that Sundog (SUNDOG) holds the top spot with a market cap of $172 million, trading at over $163 million.
Tron Bull Coin (TBULL) shows a market-leading 71.7% increase. More than double Jumping from $13.4 million to $27.9 million in one day.
Edited by Sebastian Sinclair.
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