Justin Sun tweets “TRX=XRP”, TRX hits a new all-time high

Perhaps influenced by the "TRX=XRP" dynamic released by Justin Sun, Tron (TRX) hit a record high of $0.45 today, and the current price is $0.3681, with a 24-hour increase of 63%.

In addition, BTC Markets cryptocurrency analyst Rachael Lucas said: "The recent rise of Tron (TRX) seems to be partly affected by the political instability in South Korea. TRX is a widely used transfer token between exchanges, especially in South Korea, which makes it a tool for traders who want to quickly transfer funds across platforms."

Lucas said that Upbit's trading restrictions may prompt traders to find alternative solutions for asset transfers, thereby increasing TRX's trading volume. Meanwhile, Presto Research analyst Min Jung said that while political events may have played a role in Tron's rise, the rise is unlikely to be driven entirely by the event. "This may also be part of a broader 'Dino rotation', where traditional cryptocurrencies like XRP have been rising under current market conditions," Jung said.