# Tron Hits New High Amid Broader Altcoin Rally

*Author: David Christopher*
*Published: Dec 4, 2024*
*Source: https://www.bankless.com/fr/read/tron-hits-new-high-amid-broader-altcoin-rally*

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Tron's TRX token surged to a seven-year high, crossing 43 cents before retreating to 33 cents at the time of publishing. Still the token continues to outpace majors like Bitcoin and Ethereum.

## **What's the Scoop?**
- **Price Surge: **TRX rose 81% on Tuesday, pushing its market cap beyond $35.1B, though correcting to ~$28B as of writing.
- **Market Trends: **Older projects have caught a bid, with TRX soaring alongside XRP, HBAR, and IOTA.
- **Grayscale Speculation and Sun’s Actions: **Rumors of TRX entering Grayscale's assets, plus moves by Tron founder Justin Sun—like buying $30 million in WLFI tokens— have strongly boosted interest in TRX.

## Bankless Take:
Yes, the whole surge in “dino” coins is astounding, but Tron’s near 2x in a single day is something else entirely, spurring memories of 2021 insanity. While speculation on institutional adoption and Justin Sun’s publicity efforts, especially his “buy-ins” to the Trump administration, have certainly propelled its rise, Tron is anything but a dead chain, though surging traction along likely won't be enough to convince industry skeptics concerned by Sun's antics and chain centralization.

> On 12/03/2024, TRON's revenue reached an all-time high (ATH), hitting $20 million in a single day. [$TRX](https://twitter.com/search?q=%24TRX&src=ctag&ref_src=twsrc%5Etfw) [pic.twitter.com/qc5FDhtHwo](https://t.co/qc5FDhtHwo)— H.E. Justin Sun 🍌 (@justinsuntron) [December 4, 2024](https://twitter.com/justinsuntron/status/1864230752625545472?ref_src=twsrc%5Etfw)
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