Tron (TRX) cryptocurrency has risen 16% in the last 24 hours and is now trading at $0.238. Over the last month, the crypto asset has grown by 41%. The coin's market capitalization has exceeded a record $20.4 billion. TRX's daily trading volume has doubled to $2.3 billion.

The rise in Tron’s price comes amid increased activity from major crypto investors, who have amassed over 76 million TRX in a short period of time. According to IntoTheBlock, on Monday, December 2, the number of large transactions involving the token worth $100,000 or more increased from 244 to 722. The total value of these transactions reached $432 million.

Transactions with TRX

On the other hand, from November 30 to December 2, Tron saw a net inflow of 81 million TRX to exchanges. This suggests that investors are preparing to lock in short-term profits. Such a massive sell-off could trigger a fall in the asset's price.

The Relative Strength Index (RSI) on the daily TRX chart is also above 70, indicating that the cryptocurrency is slightly overbought.

However, some analysts believe that TRX's new all-time high is a sign of the start of an altcoin season that could last into 2025.