- Ether (ETH) failed to break into $2,800-$3,000 price level and is trading at $2,600.
- TRX outperformed with a massive rally of 10.8% amid SunPump hype.
- SOL, TON, and KAS bled 2.53%, 2.78%, and 2.20%, respectively, in the past 24 hours.
Tron (TRX) surged 10.8% in the last 24 hours, outperforming major cryptocurrencies like Solana, Ether, and Toncoin. The surge is attributed to the rising popularity of SunPump, a meme coin platform launched by Tron founder Justin Sun.
While TRX experienced a significant boost, other leading cryptocurrencies such as Solana (SOL), Ether (ETH), Kaspa (KAS), and Toncoin (TON) faced notable declines during the same period.
According to the data from CoinMarketCap, TRX’s trading volume rose 124.57% to $1.65 billion and the digital asset is currently trading at $0.1594 with a market capitalization of $13.86 billion. Further, the altcoin began the day at a price tag of $0.1439 and hit a daily high of $0.1618. The surge can be attributed to the rising popularity of SunPump, the first meme coin platform on the Tron DAO.
As previously reported, Sun predicts that the popularity of SunPump and meme coins on the Tron blockchain will continue to rise, adding that the platform is open to collaborating with major centralized exchanges as well. The prediction from Sun comes at a time when meme coins on rival blockchain Solana are facing massive price dips.
On the other hand, SOL was trading at $143.40 with a 2.53% drop in price in the past 24 hours. The trading volume of the altcoin also dropped by 26.60% and the market cap of the token stands at $66.88 billion. TON dropped 2.78% and is priced at $6.68 with a market cap of $16.8 billion, ranked as the eighth-largest cryptocurrency in the market. Notably, TON is up a whopping 389.32% since August 2023.
Additionally, the second-largest cryptocurrency in the market, ETH, failed to break into the $2,800-$3,000 price region and is trading at $2,606.03, down 2.51% in the past 24 hours. The digital asset is down 4.42% in the past week and 25.36% in the past 30 days. However, Ether is up 55.87% since August 2023.
Lastly, the 22nd-largest digital asset in the market, KAS, is priced at $0.1617, down 2.20% in the past 24 hours. The altcoin is down 5.07% in the past seven days and 10.66% in the past month and has a market cap of $3.96 billion.
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