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The cryptocurrency market is seeing a surge in prices and market capitalization and Tron’s native stablecoin TRX has been leading the pack. TRX has recently outperformed other top stablecoins and its market capitalization has exceeded $40 billion, much to the elation of Tron founder and CEO Justin Sun, who has set his sights on a $60 billion valuation.
This surge in TRX’s market cap came after a lengthy bull run in the crypto markets and Tron’s mainnet launch, which provided strong fundamentals for TRX’s rise in price. This led to a massive increase in the amount of TRX circulating in the market and also fueled its growth in market capitalization.
The soaring demand for TRX was also boosted by increased institutional and retail investor interest as well as increasing amounts of Tron DeFi projects launching on its public blockchain, which has provided liquidity to the TRX market.
In addition, Justin Sun’s ambitious vision of developing Tron into a “World’s Supercomputer” and the launch of Tron’s layer-2 scaling solution, HECO, have provided strong fundamentals for TRX’s growth. Furthermore, Justin Sun’s consistent efforts to market and promote TRX among the crypto community has also helped the coin gather long-term support and grow in market capitalization.
Despite the present surge in the crypto market, Justin Sun remains optimistic and bullish about Tron’s future and he believes that the TRX market capitalization can easily cross $60 billion in the coming months. If his predictions come true, then TRX would surely become one of the most successful digital asset projects in the cryptocurrency market, surpassing several of its peers.