TRX’s Unanticipated Performance and Key Metrics
The TRON blockchain’s native digital asset, TRX, made an unexpected 11% surge as the weekend approached. Currently, with an increase of 11.20% in the last 24 hours and a weekly gain of 12%, TRX stands at $0.085. This impressive daily gain stands out among the top 20 cryptocurrencies, most of which recorded only marginal gains in the last 24 hours.
Ripple’s XRP follows TRX closely with an 11% gain within the same time frame. However, TRX maintains the lead in terms of weekly profits. After steadily climbing since March, TRX took a notable leap on Friday. This jump aligns with the announcement of TRON’s activation on the Ethereum blockchain via the BitTorrent bridge.
TRON’s Expansion into the Ethereum Ecosystem and Market Sentiment
Justin Sun, the founder of TRON, announced on Twitter that TRON (TRXUSD) has expanded its reach by going live on the Ethereum blockchain through the BitTorrent bridge. According to Sun, “TRX is now fully accessible within the Ethereum ecosystem.”
Santiment, an analytics company, points out that the crypto market seems to end the week on a bullish note. Most cryptocurrencies are trading in the green, with TRX being one of the few assets registering significant price increases this week. According to Santiment, the performance of equity markets in the upcoming week might hint at how crypto assets will behave, given the ongoing tight correlation.
TRON Breaks Records in Daily Transactions
Since hitting a low of $0.056 on March 22, TRX has been on a steady upward trajectory. The momentum amplified on June 2 when TRX shot up from $0.074 to reach $0.084. As TRX continued its ascent, hitting $0.085, it jumped up in the crypto market rankings to hold the 11th spot with a market cap of $7.73 billion.
This recent bullish trend has drawn attention to TRON, as speculation grows about its potential reentry into the top 10. On June 1, Justin Sun announced that the TRON network set a new record, processing 10,935,762 transactions in a single day. Sun expects this surge in transactions to boost protocol revenue, validating that TRON’s fundamentals remain strong, even in challenging market conditions.