TRON, a cryptocurrency with a market capitalization that has skyrocketed to $32 billion, has just had an impressive trading day with a trading volume of $12 billion, an increase of nearly 500%. The price of the TRX token also increased sharply by 90%, from $0.21 to $0.43 in just one day.
The token issued for operating systems based on this blockchain has reached a new all-time high of $0.43, surpassing the previous peak in June 2018. In just one month, the price has skyrocketed by 157%.
As a blockchain with smart contract functions, TRON has recorded a large transaction volume from Tether’s USDT and has become one of the most prominent blockchains in the field of decentralized finance (DeFi) as well as trading.
TRX is currently the only token among the top cryptocurrencies by market capitalization that has maintained its performance while others are struggling. This comes after Bitcoin (BTC) dropped to $93,000, dragging Ethereum (ETH) and Ripple’s XRP (XRP) down 0.46% and 5.5%, respectively, in a single trading day.
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TRON Price Prediction
On December 3, TRON surpassed the $20 billion market cap and is now worth over $36 billion. TRX’s price target could rise further, with recent predictions calling for it to hit $1 per TRX, representing a 150% increase from its current price of $0.40.
This prediction is well-founded as TRON is currently processing over $196 billion worth of Tether’s USDT transactions, surpassing even Visa. The current circulating supply of tokens is 86 billion TRX, while the highest circulation ever reached in 2022 is 11 billion TRX. This shows that there is still huge growth potential as the TRON ecosystem continues to expand.
