Tron’s Surge: Is Political Instability Driving TRX’s 70% Rally?

XRP has been gaining significant attention due to its rapid rise, and many expect other altcoins to follow suit.

Among them, Justin Sun, the founder of Tron (TRX), recently predicted that TRX would be the next to experience such a surge—and his prediction appears to be coming true.

Over the past 24 hours, TRX saw a remarkable 70% increase, pushing its price up to $0.40. This sudden rally has sparked considerable interest, with analysts considering various factors contributing to this upward movement. One major factor could be the political instability in South Korea, where President Yoon Suk-yeol declared a state of emergency for the first time in four decades.

Experts, including BTC Markets analyst Rachael Lucas, suggest that the TRX price surge is linked to the political turmoil in South Korea. Tron is commonly used for transferring funds between exchanges, and amid political unrest, South Korean traders may have sought to move their assets to international platforms, driving up demand for TRX.

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Min Jung, an analyst at Presto Research, agrees that political events likely played a role in TRX’s rise but also notes that this surge is part of a broader positive trend within the cryptocurrency market. The rally in TRX aligns with the cyclical gains seen in other major cryptocurrencies like XRP.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.