TRON (TRX) has reached a new all-time high price of $0.44, marking an important event nearly seven years since its last peak price.
This record price was recorded after TRX surged 81% in just 24 hours, allowing this cryptocurrency to rise to become the 10th largest by market capitalization. The previous ATH price of TRX was $0.23, achieved on January 4, 2018. This strong growth occurs against the backdrop of Bitcoin (BTC) experiencing significant volatility in recent days, as the market still struggles to attract buying power while facing profit-taking pressure from long-term investors.
In the past 30 days, the price of TRX has recorded an impressive increase of up to 164%. Although no specific factors have been identified as the main cause for this growth, the TRON network stands out for its use of stablecoins, especially in transactions with Tether USD (USDT). Data from Artemis shows that in the past 30 days, TRON has reached $24.3 billion in stablecoin transaction volume, ranking second only to Ethereum with $35 billion. Additionally, the total supply of stablecoins in the TRON ecosystem currently stands at $59.6 billion, second only to Ethereum.