Author: Zoltan Vardai, CoinTelegraph; Translated by: Baishui, Golden Finance
The market capitalization of Tron token has surpassed the record $20 billion, sending another bullish signal for the altcoin market in 2025.
Data shows that as of 10:20 a.m. UTC on December 3, Tron’s price has risen by more than 13% in 24 hours, hitting a record high of $0.23.
TRX/USD, 1-day chart. Source: Cointelegraph
TRX is up 42% on the monthly chart and over 101% year-to-date.
TRX’s all-time high comes after Tron founder Justin Sun revealed that he had become the largest investor in Donald Trump’s crypto project after investing $30 million in WLFI tokens on November 25.
Source: Justin Sun
Some analysts say the all-time highs set by the TRX token are the latest sign of a potential altcoin season that could lead to a smaller cryptocurrency rally in December.
An increasing number of analysts expect the altcoin season to continue until early 2025, with Ethereum potentially rising to $4,000 before U.S. President-elect Donald Trump’s inauguration on January 20.
Analysts eye December alt season as Bitcoin dominance falls
Meanwhile, Bitcoin dominance fell below a two-year support line on Nov. 30, another sign that the altcoin season could be starting.
The decline in Bitcoin dominance suggests that investors are taking profits from their Bitcoin positions and investing part of their funds in altcoins.
Cryptocurrency market flows. Source: Rekt Capital
In a Dec. 3 post, trader Mikybull Crypto suggested that the December altcoin rally has already begun, based on historical patterns of altcoins declining relative to Bitcoin’s market cap:
“The altcoin season for this cycle has begun. This is a perfect indicator of the altcoin season.”
Other cryptocurrencies/BTC, 1-month chart. Source: Mikybull Cryptocurrency
However, altcoins are also benefiting from other catalysts beyond technical chart patterns.
Google Trends data shows that global Google searches for Tron tokens have risen to their highest point in more than 39 months, last seen in September.
Tron coin, 1-year chart. Source: Google Trends
He said on Nov. 21 that the growing interest could be partly due to Sun, who also spent $6.2 million on a piece of banana art taped to his wall.
Early signs of an altcoin season can also be spotted on other cryptocurrency charts.
Top 100 cryptocurrencies, 1-month chart. Source: Cryptobubbles.net
Cryptobubbles data shows that Hedera (HBAR) tokens have risen by more than 763% in the past month, making it the best performing coin among the 100 largest cryptocurrencies in November.
The token has seen growing retail interest after a Nov. 12 filing revealed that investment firm Canary Capital is looking to launch an exchange-traded product (ETP) based on Hedera.
