Tron’s native cryptocurrency, TRX, is the latest token to hit a new all-time high this year amid the ongoing crypto rally.
TRX has surged to a $32.5 billion market cap, surpassing its previous record of $14.76 billion set in 2018. The token is up 55% in the last 24 hours.
TRX 6 year chart
#TRX The rally comes just days after its founder, Justin Sun, invested $30 million into World Liberty Financial, a DeFi project affiliated with U.S. President-elect Donald Trump. Sun officially announced the move in a tweet.
“We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go!”
Following the move, Tron and its founder, Justin Sun, have become the largest investors in World Liberty Financial. However, the move has raised some eyebrows within the crypto space.
According to World Liberty Financial’s gold paper, once it raises $30 million to establish a reserve for operating expenses, the remainder will go to entities associated with its founders and initial supporters.
Furthermore, once the $30 million raise is complete, 75% of its revenue will go to a Delaware-incorporated LLC affiliated with Trump#TRON✅