Here’s Why Tron (TRX) Hits All-Time High | Key Points | Dec. 04, 2024
GM. Welcome back to BitPinas Key Points: crypto news in concise formats for easy reading. In today’s daily recap: Tron is up, and here’s why.
Side note: We published a sort of farewell article to early crypto community manager Eric Cristobal, who passed away this week. Please check out the piece here and the Facebook post here.
Plus the latest crypto news stories in the last 24 hours.
Table of Contents
Market Analysis and Updates 📈
Here are the crypto highlights of the day:
Crypto Price Update
- Bitcoin (BTC): $96,607.21, up 0.5% over the last 24 hours.
- Ethereum (ETH): $3,684.44, up 0.8% over the last 24 hours.
- Solana (SOL): $238.26, down 4.7% vs the previous day.
Trending Coins Update
- Tron: $0.4109, up 76.9% vs the previous day.
- Koma Inu: $0.0745, up 74.5% over the last 24 hours.
- Sun Token: $0.0363, up 41.6% vs the previous day.
For the daily price update, check out our post on Facebook.
Justin Sun’s Tron is Up and Here’s Why
TRX has hit $0.4313, an all-time high.
Key numbers:
- Its market capitalization has surged past $35.1 billion, up 81% in one day (CoinGecko).
Why is this happening: Money made from Bitcoin appears to be flowing into older more legacy projects. As an example, XRP and Cardano prices were breaking records in the last 7 days.
As for Tron, this is its first major surge in seven years, beating some expectations that the Justin Sun-founded crypto project will be relegated as the blockchain where much of the USDT transactions are happening.
Bitcoin and Ethereum have remained relatively flat over the same period
Memecoins are also in momentum at Tron, Decrypt has reported:
- FoFar (FOFAR): Gains 240% in 24 hours.
- Sundog (SUNDOG): Retains top trading volume, hitting $163M.
- Tron Bull Coin (TBULL): Market cap doubles in one day to $27.9M.
What’s ahead: We all expect these older crypto projects to continue surging. Why? Because most of them are 90% down, which makes them more responsive to new liquidity.
Philippine Crypto News 🇵🇭
- YGG released the Beginner Quest Series – Episode 4 of the GAP S8 questers.
- PDAX unveiled a December promo for its Top 100 frequent traders who will share a BTC prize pool worth ₱500,000 as well as weekly CELO airdrops.
- BitPinas article: Early Philippine crypto community builder Eric Cristobal passes away.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
- U.S. Bitcoin and Ethereum spot ETFs saw record inflows of $7.6 billion in November.
- Analysts states that XRP’s surge is fueled by regulatory hopes, potential ETF approval, and growing institutional interest.
- Coinbase adds Moo Deng (MOODENG), a viral Solana-based memecoin, to its listing roadmap.
Educational Corner 🎓
- Following the market bullrun several traders had substanial gains, a.k.a.paldo. But what is Paldo? Learn where to put your crypto profits after significant gain here.
Regulation Watch 📜
Stay informed about the latest regulatory updates and what they mean for you:
- Cambodia blocks access to 16 crypto exchange websites.
- Taiwan accelerated its AML compliance deadline for crypto exchanges, enforcing stricter rules with penalties and fines.
- The UK is advancing crypto regulations focusing on stablecoins and staking to attract businesses and compete globally.
Community Spotlight 🔦
Meet Eric Cristobal (LinkedIn): He is a key figure in the blockchain and Axie Infinitycommunities in the Philippines.
- He served as Ecosystem Growth Lead at cLabs (Celo) from 2020 to 2022, focusing on community engagement and promoting financial inclusion in the Philippines.
- Cristobal was also a Social Media and Country Manager for OKEx (2018-2020).
- He founded and led EMC, an Axie Infinity guild.
- He also worked with DAO Maker, BitMart, and Iskra in roles emphasizing community building and business development.
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
- OpenPad AI raised $2 million to integrate decentralized AI analytics with blockchain.
- Solana has been added as a payment option on the Crypto Life platform, allowing users to make purchases at 90 million merchants worldwide using SOL.
- In 2024, hackers stole $1.48 billion from crypto, with DeFi projects accounting for all of the losses.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
- Portal launched a cross-chain wallet and game discovery hub to improve interoperability and game quality in crypto gaming.
- OpenSeason burned 82% of its FU token supply to reduce over-allocation, making the token more appealing by decreasing the team’s control over it.
- The REVV Racing 2.0 Tournament offers Lamborghini Revuelto NFT holders rewards and the exclusive Genesis Capsule airdrop.
Event Announcements 📅
Don’t Miss Out: Upcoming events, webinars, and meetups in the crypto space in the Philippines!
- iThink Code Camp: La Consolacion University Malolos: December 5, 2024
- IC Hangout Mixer Q42024: December 6, 2024
- (PDAX) Happy HODLidays: A Year-End Meetup: December 7, 2024
- Bicol Blockchain Conference: December 7, 2024
- iThink Code Camp: Bulacan State University: December 10, 2024
- Rivalz ai.hack4PH: December 16, 2024
Stay Connected:
- Follow us on Twitter 🐦
- Check us out on Facebook!
- Join our Telegram group for real-time discussions!
We’d love to hear from you! Reply with your thoughts or questions.
This article is published on BitPinas: Here’s Why Tron (TRX) Hits All-Time High | Key Points | Dec. 04, 2024
