Crypto investors are forever searching for the “next Bitcoin”. And, there is a coin that has been popping up all over the news. This coin project is TRON (TRX). Is this a Chinese Bitcoin that will make you rich in 6 months?
Chinese Entrepreneur Justin Sun Heads TRON
TRON, itself, is a blockchain platform that is the foundation for a decentralized entertainment ecosystem. It is a smart contract platform, where developers can develop dApps on the platform. In 2018, TRON acquired BitTorrent, a peer-to-peer file transfer protocol that allows sharing of large amounts of data over the internet.
Justin Sun, a Chinese entrepreneur, heads the TRON (TRX) project. Sun has a variety of accomplishments under his belt. He became a paper millionaire when he invested in Bitcoin early on in the Bitcoin game. Sun also invested in Tesla shares using his college funds. He graduated from Peking University and then studied political economy at UPenn. He set up his first blockchain project, Raybo, a few years back; Raybo is a strategic partner with TRON.
TRON (TRX) Price Doubled in the Last Month
There are many who are wondering whether TRON is the next Chinese Bitcoin. Over the last month, the price of TRON doubled. It went from approximately $0.014 USD to $0.029 USD. You have to be wondering to yourself, what is the reason for this price doubling?
Well, the latest news is that TRON is working to do its first airdrop of BitTorrent (BTT) to TRON (TRX) holders on February 11 of this year. It will repeatedly do airdrops of BTT until February 2025, thus motivating investors to hold their TRX and get more TRX. The idea is that there will be less TRX flooding the market, so that the price increases as a result.
Is Justin Sun Over-Hyping His Product?
However, many of Justin Sun’s critics say that Sun is over-hyping his product, including some crypto bigshots. In April 2018, Sun argued that TRON was superior to Ethereum. Ethereum founder Vitalik Buterin argued that Sun was over-hyping the capabilities of the TRON platform. Buterin is not the first to argue that Sun was using his marketing capabilities to over-hype a product. According to the former chief strategy officer at BitTorrent, Simon Morris, Sun is not a technical expert; rather, Morris said, Sun is strong with marketing.
