Tron (TRX) is enjoying a significant surge in the crypto markets right now. The 10th largest cryptocurrency by market capitalization posted a new 6-year high above $0.21 earlier today. It looks to regain some lost ground against other layer blockchains like Solana (SOL ($123.26)) and Cardano (ADA ($0.37)).

Tron’s dramatic price recovery just before the much-awaited altcoin season is largely attributed to its adoption by the burgeoning meme coin economy. Many analysts believe the coin is set for a massive 2025 as the market becomes receptive to old coins with newfound utility.

Tron’s Short History

Tron was launched in 2017 during the first altcoin wave and quickly gathered a cult following among short-term traders that propelled it to an All-Time High of $0.30 in January 2018. This ATH still stands even after more than 6 years. However, a relatively poor 2020-2021 bull market dampened the hopes of long-term investors, and many divested from the coin and went into newer, more happening alternatives of Solana (SOL), Dogecoin (DOGE ($0.13)), Shiba Inu (SHIB ($0.00)), Polkadot (DOT ($1.83)) and Polygon (MATIC).

However, the coin has shown great promise in the buildup to the highly anticipated 2024-2025 bull market, rising more than 110% during the last 12 months. Here is its price action during this time:

Image Source: TradingView

Tron’s rise has been the loss of other Layer 1 solutions as the former tries to regain its spot in the highly competitive coin market. It has posted a new 70-month high of $0.21 and isn’t looking to back down soon. The coin is expected to target the ATH of $0.3 in the coming weeks and will likely be in a long-term bullish phase by the turn of the year.

The Future

Tron-based meme tokens post strong growth as TRX mounts a challenge to Solana’s supremacy at the top of the meme coin food chain. The total market capitalization of Tron meme coins has reached $327 million, which seems high but pales in comparison to $20 billion or so based on the Rust-based SOL. So, TRX has a lot of catching up to do, but it means there is significant potential for a massive price uptick, from which traders can benefit. The next few months are expected to define the legacy of Tron and its blockchain ecosystem. Analysts are keeping a close eye on the proceedings.