TRON (TRX) has reached an all-time high in nearly 7 years

Tron (TRX) reached an all-time high of $0.41 almost seven years after it first hit its most recent high. according to to TradingView data.

A new all-time high has made TRX the 10th largest cryptocurrency by market capitalization after an 81% price jump in the past 24 hours.

The previous record price of TRX was $0.23 on January 4, 2018. This price increase in the midst of Bitcoin (Bitcoin) choppy movement in the last few days, due to the market struggle Collect pressure to buy To deal with the long-term profits of the holders. Over the past 24 hours, Bitcoin is down 0.8% to $95,487.17 at press time.

In addition, Ethereum (ETH) struggles with a 1.1% correction at $3,582.62. Rising ETH prices have traditionally led other altcoins to perform well in past bull cycles, which allowed TRX to reach new highs before the ETH market changes.

Over the past 30 days, TRX has climbed 164%.

There is no obvious reason behind the increase in TRX price. The TRON network is famous for its use of stablecoins, especially in the case of USD Tether (USDT) transfers

According to Artemis dataIn the past 30 days, TRON has achieved $24.3 billion in stablecoin transfer volume, bested only by Ethereum's $35 billion. Additionally, the supply of stablecoins on the network is $59.6 billion, the second largest.

Justin Sun It launched TRON in late 2017 amid the initial coin offering (ICO) frenzy that marked this bullish trend. The network was created as an “Ethereum killer”, a title given to several layer 1 blockchains that aim to be faster than Ethereum as a smart contract infrastructure.

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