Tron (TRX) Enters ‘Banana Zone’ Exploding 70% to All-Time High

Altcoins are leading the charge today as total crypto capitalization peaks at $3.68 trillion while Bitcoin remains range-bound.

The top-performing digital asset over the past 24 hours is Tron (TRX), which has skyrocketed 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 over $30 billion as the asset vies for a top ten position.

Tron in Banana Zone

Moreover, TRX prices have more than doubled over the past week, climbing from below $0.20 to current levels. The asset had started to retreat at the time of writing and was trading at $0.374, according to CoinGecko.

“The breakout by Tron (TRX) offers a serious glimmer of optimism to the rest of the market,” commented ‘Blockchain Backer’ to their 306,000 X followers on Dec. 4.

“It was one of the majority of coins unable to set a new all-time high in 2021. But capable of surpassing 2021 and 2018 with this move. If that doesn’t get you excited, it should.”

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

The breakout by Tron (TRX) offers a serious glimmer of optimism to the rest of the market.

It was one of the majority of coins unable to set a new all-time high in 2021. But, capable of surpassing 2021 and 2018 with this move. If that doesn’t get you excited, it should. pic.twitter.com/GZFcqhmbOm

— Blockchain Backer (@BCBacker) December 4, 2024

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

The Tron founder commented that six years later, the network was still here and still building.

6 years later.
Still here.
Still #BUIDLing.

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

— H.E. 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 Nov. 25.

He also spent $6.2 million on a piece of art comprising of a banana taped to a wall on Nov. 21.

Binance Coin ATH

Tron is the only token to hit an all-time high today as Binance Coin (BNB) has surged more than 20% to a record high of $771.60 during early trading in Asia on Dec. 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 dipped hard in June 2022 following the SEC lawsuit against the company.

Other double-digit movers today include crypto stalwarts IOTA and EOS, surging 40% and 30% respectively. However, they both remain massively down from their all-time highs.