Tron (TRX) has topped $20B in market cap, marking a new all-time high of $0.23. The coin gained 13% in 24 hours, 42% monthly, and 101% year to date. This spike comes after Tron founder Justin Sun invested $30M in Donald Trump's crypto initiative.
Analysts believe this is a sign of an upcoming alt season. They forecast smaller crypto to rebound in December, with Ethereum potentially reaching $4,000 in the next few days.
Bitcoin's dominance is waning, indicating investors are shifting cash to altcoins. The sentiment is pretty clear: alt season has begun.
Tron's popularity is increasing. Google searches for the token are at a three-month high. Sun's recent $6.2 million art buy may have fueled this curiosity. Other altcoins are showing promise. Hedera (HBAR) was the best-performing alt in November, up more than 763%. This rise followed reports of a proposed Hedera-based exchange-traded product. XRP has doubled in the last week too.
As Bitcoin's dominance fades, the crypto industry prepares for an explosive altcoin season.
