Among the highest-ranked cryptocurrencies by market cap, Tron is the only token that performed up to 104% in a day, while Bitcoin suffered to $93,000 earlier today.

Tron (TRX), a cryptocurrency with a surging $36 billion in market capitalization, has seen a massive trading day with $10 billion in trading volume or an increase of almost 500%. The token price also soared by 95%, from $0.21 to $0.43 in a day at the time of writing.

The token released for blockchain-based operating systems has recorded a news all-time high of $0.4, surpassing the June 2018 peak, and the price also skyrocketed to 157% in just one month.

As a blockchain with smart contract functions, they record high transactions from Tether’s USDT. They also become one of the most prominent blockchains for decentralized finance (DeFi) and transactions.

TRX is the only crypto-token among the top-ranked by market cap, which is performed while the others are facing struggling prices after Bitcoin (BTC) dipped to $93,000. Ethereum (ETH) and Ripple’s XRP (XRP) also decreased by 0.46% and 5.5% in a day of trading, respectively.

Tron price predictions

On Dec. 03, Tron had already passed the $20 billion market cap and now surpassed $36 billion. The target price may increase even further, with recent developments saying it would go up to $1 per TRX. This means that the price will rise 150% from the current price of $0.4.

This target comes with a reason: the company now handled Tether’s USDT transactions with over $196 billion, or even bigger than Visa does. The token circulations are also only 86 billion, while the highest is 11 billion circulated in 2022, which means that there is still room to grow along with the ecosystem.

Satoshi Act Fund founder Dennis Porter announced that several U.S. states are preparing to propose legislation for sovereign Bitcoin reserves.

In an attempt to front-run President Donald Trump’s Bitcoin (BTC) promise, Porter has lobbied local policymakers to introduce legislation for BTC stockpiles across 10 state jurisdictions. Porter disclosed the development via an X thread, highlighting efforts from his Satoshi Act Fund organization toward passing Bitcoin-focused laws.

I can now officially confirm and announce that 10 states will be introducing ‘Strategic Bitcoin Reserves’ legislation here in the great United STATES of America. We are going to win with Bitcoin. We will lead the world. No one will come close. The word will follow our lead.

Dennis Porter, Satoshi Act Fund founder and CEO

The public BTC supported also announced a joint discussion with Wyoming Senator Cynthia Lummis regarding her BITCOIN ACT, suggesting that Porter has engaged federal lawmakers to position the U.S. as a Bitcoin leader.

Lummis’s proposal would transfer 207,000 BTC seized by authorities to the Treasury Department. The Senator also pushed to convert U.S. gold certificates to finance BTC purchases and accumulate one million coins over five years.

“The race is on. Let the game theory begin,” Porter tweeted, referring to President Trump’s plan to establish a government BTC stockpile from America’s existing $19 billion horde.

Nations, states, and governments are rushing to grab portions of BTC’s 21 million fixed supply following Trump’s victory at the presidential polls. Within the U.S., Pennsylvania already passed a bill legalizing BTC payments and crypto self-custody. The state also introduced a bill paving the way for its own BTC reserve in November.

On the international front, Brazil’s Senate considered pitching a national BTC reserve to President Luiz Inácio Lula da SilvaCongressman Eros Biondini submitted the idea to Brazil’s Chamber of Deputies as crypto.news reported.

A closely followed analyst believes the economy is in the midst of an “everything bubble” that still has more potential to grow.

Analyst Jason Pizzino tells his 121,100 followers on the social media platform X that peak cycle highs may still be a ways off for assets like stocks and crypto.

“When we take a broad look at the market there are still a lot of investors that are thinking the stock market, real estate and crypto gains so far are ‘too good to be true’ and this time they’re going to get out before the crash.

This is NOT how macro, end of cycle tops are formed.

The 18-year cycle ‘Everything Bubble’ peak still has more time to develop and bring major FOMO (fear of missing out) unlike what we have seen.”

The analyst predicts that Bitcoin (BTC) and other assets are gearing up for additional rallies in the bullish market cycle.

“Bitcoin, real estate, stock markets and altcoins are setting up for the biggest pump in history. I think it has already started, but there are still plenty of investors asking, ‘When will it start?’ Look around, the markets have been up for years and don’t look like they will stop any time soon. Especially not now that we have a perfect ‘This time is different’ scenario brewing within US politics.”

He also says that Bitcoin may now be on the verge of entering an explosive phase of the market cycle based on historic precedence.

“The Bitcoin four-year cycle has officially entered the right side of the cycle, which means this is a strong market. Three out of the current four cycles have fooled the majority of people into thinking the cycle would end early, aka a left-translated cycle like in 2011, 2019, and most recently 2024.

Each time, Bitcoin has gone on to make a new all-time high in the second half of the four-year cycle, the ‘right’ side. This now means we enter what I’m calling ‘The Final Boss,’ or ‘Grand Final.’”

Bitcoin is trading for $95,799 at time of writing, down 1.9% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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