On December 3, 2024, Tron (TRX) achieved a new all-time high (ATH) of $0.23, marking a significant milestone in the cryptocurrency market. This surge comes as the token's market capitalization surpassed $20 billion, signaling a bullish trend for altcoins as we approach 2025.
In the 24 hours leading up to the ATH, TRX rose over 13%, contributing to a monthly increase of 42% and an impressive year-to-date (YTD) gain of over 101%. The rise is attributed to heightened interest following Tron founder Justin Sun's $30 million investment in Donald Trump's crypto project, World Liberty Financial (WLFI), on November 25.
Analysts are predicting an altcoin season, with expectations that Ether (ETH) could rise to $4,000 before January 20, 2025. This speculation is fueled by Bitcoin's (BTC) dominance falling below its two-year support line, indicating a shift in investor focus towards altcoins.
Additionally, global interest in TRX spiked, as evidenced by a three-month high in Google searches, reflecting increased public attention. This momentum aligns with historical patterns suggesting a potential altcoin rally throughout December.
The cryptocurrency landscape is poised for shifts, with analysts suggesting that the declining Bitcoin dominance may pave the way for a broader altcoin rally.