Tron is rallying, inching to new 2024 highs. As TRX rallies, eyes are on Crypto All-Stars, whose presale has raised over $600,000
Bitcoin and top altcoins are all over the place. There is hope that BTC or Ethereum might crack immediate resistance levels, reigniting demand.
Before then, however, most altcoins are stuck in a boring range, as shown by the formation in the daily chart.
Tron Crypto is Defying Market Trends: Here’s Why
But there is an exception. Looking at the daily chart, TRX seems to be ripping higher and outperforming the broader crypto market.
TRX is rallying, securing its place in the top 10, and flipping Cardano (ADA).
Amid this expansion, analysts expect the coin to rise up the ranking further as it prints fresh 2024 highs in a buy trend continuation of Q1 2024 gains.
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Why TRX Price Is Flying Sky-High: Tron Crypto’s SunPump
There are several catalysts behind this impressive spike.
- Justin Sun, sometimes controversial as he may be, won against the United States SEC. The regulator had accused Sun and the Tron Foundation of selling unregistered securities during their ICO in 2027. However, a judge denied the agency’s plans to expedite the legal process. Many see this decision as a boost for the Sun and Tron Foundation defense team.
- Tron has launched SunPump, a dedicated platform for launching meme coins on Tron. The initiative, which will compete with Pump.fun on Solana, will recharge activity on Tron, allowing more meme coins to launch on the scalable and low-fee platform. As seen on Solana, the more engagement, primarily from meme coin activity, native token prices tend to spike, lifting valuation. This development is precisely what’s happening with TRX.
The broader market remains under pressure, and it remains to be seen whether TRX will continue outperforming every other token.
Investors Pouring Into Crypto All-Stars As They Diversify
To diversify their base, investors are increasingly exploring a new project: Crypto All-Stars (STARS).
The project is gaining traction in the ongoing presale, raising over $600,000 as of August 21.
There are no signs of demand slowing down, especially considering that the token is available for just $$0.0013966 at the current presale stage.
If TRX lifts sentiment, STARS will be one of the biggest beneficiaries, considering its utility.
Already, Crypto All-Stars is rapidly building its social media presence, receiving positive reviews from ICO trackers like ICOBench.
Analysts on YouTube are also bullish, expecting STARS to perform well in the coming sessions.
However, the project’s unique MemeVault feature may support prices going forward, which taps into the ERC-1155 standard.
The tool allows users to stake top meme coins like Dogecoin, Pepe, and others, earning rewards in STARS.
What this does is essentially turn otherwise idle but valuable meme coins into a source of passive income.
Beyond that, holders can choose to stake STARS, earning a 2,500% APY
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
