Tron stomps to record
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 4th December 2024.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Out Of The Blue, TRX Shades All-Time Green
Tron's native TRX earlier today soared to a new all-time high of $0.43 per token. Over the past few hours, though, it pulled back 17% to $0.35. That was at about 9:45 a.m. (EST).
TRX's total market capitalization presently exceeds $30 billion, making it the 11th-largest digital asset, ahead of Avalanche (AVAX). Tron is part of an old guard of blockchain and DLT projects going back to the salad days when crypto was getting its first taste of mainstream attention, circa 2018. There seems to be no immediate detectable catalyst at work here now in early December but adjacent activity (trading volumes, related meme movements, TVL) has recently gone through the roof, said CoinDesk.
We do suppose it's worth revisiting last week's announcement by Tron's founder Justin Sun that the Tron ecosystem had invested $30 million in Trump-backed World Liberty Financial, becoming its biggest investor.
What's down
Hedera Still Has Gas In The Tank
Most cryptocurrencies are in the green today with Bitcoin reclaiming respectable ground above $96,000 and political chaos in the crypto hub of South Korea proving to be mercifully short-lived.
Red specks can't be ignored nor overblown. Has Hedera (HBAR) waved farewell to its 30-cent handle after losing 8% in 24 hours? Yes but HBAR remains +114% over the past week. Algorand (ALGO) also declined 8% since yesterday at this time. ALGO is battling to stay at 50 cents. It's up 62% in the past week.
What's next
Private Dancers
So-called privacy coins seem to be enjoying recognition. The biggest and best-known of these identity-shielding assets is Monero (XMR) which just crossed $200 for the first time in two years.
Privacy coins, taking cryptographic techniques to the next level in the name of righteous confidentiality, have come under scrutiny from law enforcement officials insisting such ways/means match up a little too perfectly with criminal behavior. Go ahead, though, try to crack Monero's privacy, holders of XMR seem to have been saying for the past few years as the semi-controversial coin, despite having a target on its back, stayed above $100, even during some of the industry's darkest days.
The recent spike in the price of privacy coins - Haven, Verge, Zcash and Decred have all rallied in the past week - comes after the U.S. Fifth Circuit Court ruled last week that the Treasury overstepped by sanctioning Tornado Cash, a highly controversial "coin mixer," software that's commonly associated with bad actors.
"The decision marks a significant win for privacy advocates and blockchain developers seeking legal clarity," Decrypt said.
