$TRX
#TRON✅ surges 80% in past day amid political unrest in South Korea
Tron, the native token for the network of the same name, rallied about 80% in the past day.
Some linked the rally to the overnight political chaos in South Korea, brought on by the president’s sudden declaration of martial law.
One analyst said Tron’s rally is a mixture of other elements, such as the “Dino rotation.”
Tron (
TRX +78.43%
), the native token of Justin Sun's Tron network, rallied about 80% in the past day, fueled by multiple factors, including political chaos in South Korea, home to one of the largest and and most reactive retail cryptocurrency markets in the world.
TRX rose 78.4% to currently trade at $0.40, according to The Block’s price page. It once rose to a high of over $0.43 at around 11 p.m. on Tuesday. Just (
JST +54.66%
), the token for Tron-based DeFi protocols, jumped 50% to trade at $0.06.
Some on the social media platform X attributed Tron’s sudden rally to the chaos in South Korea that occurred overnight.
On Tuesday night, South Korean President Yoon Suk-yeol declared emergency martial law, a first in over 40 years. Martial law in South Korea refers to the imposition of direct military control over civilian government functions, typically in response to a significant threat to public order.
Yoon called off martial law five hours later after lawmakers present at the national parliament voted unanimously against the declaration.
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The two largest centralized exchanges in the country, Upbit and Bithumb, reported service suspensions lasting one to two hours due to a sharp uptick in activity.
The recent rally in Tron (TRX) appears to be partly driven by political instability in South Korea,” said Rachael Lucas, crypto analyst at BTC Markets. “TRX’s role as a widely used transfer token between exchanges, especially in South Korea, makes it a tool for traders looking to move funds across platforms quickly.”
