The Tron token has reached an impressive milestone by surpassing a record $20 billion in market capitalization, signaling another bullish indicator for altcoins heading into 2025.
Tron Price Hits New All-Time High
On December 3rd, at 10:20 am UTC, the Tron (TRX) price rose over 13% to hit a new all-time high of $0.23, according to Cointelegraph data.
Monthly and Year-to-Date (YTD) Performance
The TRX token is up 42% on the monthly chart and over 101% year-to-date (YTD), showcasing its significant growth.
Justin Sun’s Investment in World Liberty Financial
Tron founder Justin Sun revealed that he had become the largest investor in Donald Trump’s crypto project, World Liberty Financial (WLFI), by investing $30 million in WLFI tokens on November 25th. This development followed Tron’s new all-time high.
Analysts Predict Altcoin Season Leading into Early 2025
According to some analysts, the TRX token’s new all-time high is a signal of a potential altcoin season that could see smaller cryptocurrencies rally during December. Increasingly more analysts expect an altcoin season leading into early 2025, which could see Ether (ETH) rise to $4,000 before January 20th, when United States President-elect Trump officially takes office.
Related: Bitcoin Liquidity Index Points to $110K Local BTC Top by January 2025
Analysts Eye December Altseason Due to Falling Bitcoin Dominance
Bitcoin dominance fell below its two-year support line on November 30th in another signal of the potential commencement of altcoin season. Declining Bitcoin dominance suggests that investors are taking profit from their BTC positions and investing part of these funds into altcoins.
Historical Patterns Indicate Altcoin Rally
December’s altcoin rally has already begun, based on historical patterns emerging amid the declining ratio of altcoins relative to Bitcoin’s market capitalization, trader Mikybull Crypto said in a December 3rd X post.
Other Catalysts Driving Altcoin Rally
Altcoins also benefit from other catalysts beyond technical chart patterns. Looking at the Tron token, worldwide Google searches for the coin rose to an over three-month high of 39, last seen in September, according to Google Trends data.
Growing Interest in Tron
Part of the growing interest may be attributed to Tron’s Sun, who also bought a $6.2 million piece of art consisting of a banana taped to a wall, he said on November 21st.
Early Signs of Altcoin Season on Other Cryptocurrency Charts
The Hedera (HBAR) token was November’s best performer among the 100 largest cryptocurrencies after rallying over 763% during the past month, according to Cryptobubbles data. The token saw growing retail interest after a November 12th filing revealed that investment firm Canary Capital was seeking to launch a Hedera-based exchange-traded product (ETP).
Bitcoin Could Explode After $100K—Here’s Why
The recent surge in Tron’s market capitalization and price is a significant indicator of the potential altcoin season leading into early 2025. As Bitcoin dominance falls, investors are increasingly looking towards alternative cryptocurrencies for growth opportunities.
Is Bitcoin Heading Back to $90K? Solana ETFs, and More: Hodler’s Digest, Nov 17 – 23
As the cryptocurrency market continues to evolve, it will be interesting to see how Tron’s new all-time high and other altcoins perform in the coming months. With the potential for an altcoin season leading into early 2025, investors would do well to keep a close eye on these developing trends.
