$TRX Tron (TRX) has surged by a whopping 85%, hitting a new record high with a market cap of over $36 billion.

The price of the digital currency (TRX) rose to a peak of $0.43, surpassing its previous high of $0.23, before settling at $0.39 at press time, up 70% in 24 hours.

This growth pushed Tron’s market cap from $19 billion to $36.7 billion, with the currency gaining 140% over the past month and more than 280% since the beginning of the year.

Other cryptocurrencies also saw gains, with IOTA up 50%, VET up 15%, and KDA up 44%, according to CoinGecko data.

The TRX price surge comes amid a bullish wave in the cryptocurrency market in general, despite the stability of Bitcoin and Ethereum prices.

Meanwhile, the momentum surrounding TRX is attributed to the Tron founder joining the World Liberty Financial (WLFI) project as an advisor.

Justin Sun invested $30 million in WLFI, becoming one of the largest investors in the project backed by Donald Trump and his sons.

Sun also attracted media attention after purchasing the famous “Banana” artwork at an auction for $6 million.

In a recent tweet, Sun stated that TRX could become the next XRP, hinting at the project’s future potential