On Dec. 3, TRX, the native token of the Tron network, hit a new all-time high of just over $0.28 after surging approximately 33% in 24 hours. The surge boosted TRX’s market capitalization past the $20 billion mark, reaching around $24 billion by 1:00 p.m. EST, surpassing AVAX’s market cap by more than $3 billion.
According to data, TRX climbed to the 11th and 10th spots on Coingecko and Coinmarketcap, respectively. The token has rallied 65% since Nov. 3, when it traded around $0.162.
Tron’s surge, amid a broader altcoin rally, came less than 24 hours after a social media user on X, Javon Marks, predicted a significant price increase in the crypto asset’s USD price.
“As $TRX (TRON) 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 told his over 46,000 followers.
On Sept. 20, when TRX was trading around $0.155, Marks similarly predicted the full logarithmic follow-through and a price target of $1.11.
Meanwhile, just prior to the crypto asset’s Tuesday burst, Justin Sun, the founder of the Tron Network, quipped that TRX was destined to become the next XRP. Sun’s comparison of TRX with Ripple’s XRP followed the latter crypto asset’s 40% surge on Dec. 2, which saw it peak at just below $2.80. As reported by Bitcoin.com News, XRP saw it replace the stablecoin tether as the number three digital asset.
In another post on X on Dec. 3, Sun, who quite naturally reveled in TRX’s rally, told his followers that this is just the beginning. Sun also reflected on events in South Korea, which declared martial law on Dec. 3 due to alleged anti-state activities within the opposition Democratic Party.
