Tron (TRX) enters the “Banana Zone” with a 70% explosion to an all-time high

Altcoins are leading the charge today as total crypto market capitalization hits $3.68 trillion, while Bitcoin remains limited.

The best-performing digital asset over the past 24 hours is Tron (TRX), which has soared a monumental 70% to hit an all-time high of $0.431 during early trading on Wednesday in Asia.

This has pushed TRX’s market capitalization past $30 billion as the asset bids for a top ten position.

Throne in Banana Zone

Additionally, TRX prices have more than doubled over the past week, going from less than $0.20 to current levels. The asset had started to pull back at the time of writing and was trading at $0.374, according to CoinGecko.

“Tron (TRX) breakout offers a serious glimmer of optimism for the rest of the market,” commented ‘Blockchain Backer’ to his 306,000 X followers on December 4th.

“It was one of the most currencies that failed to set a new all-time high in 2021. But able to surpass 2021 and 2018 with this move. If that doesn’t excite you, it should.”

Until today, TRX’s previous ATH was $0.231, almost seven years ago in January 2018.

Tron’s (TRX) breakout offers a serious glimmer of optimism for the rest of the market.

It was one of the most coins that failed to set a new all-time high in 2021. But, able to surpass 2021 and 2018 with this move. If that doesn’t excite you, it should. pic.twitter.com/GZFcqhmbOm

— Blockchain Backer (@BCBacker) December 4, 2024

“I thought this would hit a new ATH in 2025,” added ‘Kingpin Crypto’ before declaring: “Justin Sun absolutely crushed it this year.”

Tron’s founder commented that six years later, the network was still here and still under construction.

6 years later
still here
still #CONSTRUCTION.

Things have changed, but one thing hasn’t: #THRON remains a top 10 contender. https://t.co/0xgGmVtpvK

— THE Justin Sun (@justinsuntron) December 3, 2024

Justin Sun has been splashing the cash recently, announcing that he had become the largest investor in Donald Trump’s World Liberty Financial crypto project after investing $30 million in WLFI tokens on November 25th.

He also spent $6.2 million on an artwork consisting of a banana stuck to a wall on November 21.

Binance Coin ATH

Tron is the only token to hit an all-time high today, as Binance Coin (BNB) surged more than 20% to an all-time high of $771.60 during early trading in Asia on December 4. The company celebrated the milestone with a post on X.

BNB reached over $770, hitting a new ATH! pic.twitter.com/ZyjnAKtdmx

— Binance (@binance) December 4, 2024

BNB prices fell sharply in June 2022 after the SEC lawsuit against the company.

Other current double-digit movers include crypto stalwarts IOTA and EOS, which surged 40% and 30% respectively. However, both remain well below their all-time highs.

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