Tron (TRX) Soaring: Is It Due to Justin Sun?
Justin Sun, the founder of Tron Network, is known within the blockchain community to use PR tactics to generate buzz and attention. Whether it’s wanted or unwanted attention, it reflects on TRON or BitTorrent’s overall price, which he purchased for $136 and is currently valued at over $4.95 billion.
In 2021, TRX surged past its previous all-time high set in 2018. TRX rallied by 26.24% before another rally of 5.98%, reaching a new high of $0.1398. Currently, TRX is ranked 17th with a market cap of $7.8 billion. Bittorrent, along with TRON, has gained momentum in the crypto space; some wonder whether it’s just a new way of promotion or if the networks are seeing the implementation of new developments.
Recent developments in the TRON Network
TRON Network is a blockchain platform that seeks to change entertainment and media practices. It uses smart contracts similar to Ethereum but differs in protocols and governance. Recent developments in the blockchain created new opportunities for TRON to distance itself from Ethereum, the limitations of which Justin Sun has always been highly vocal about.