TRX Equals Bitcoin Justin Suns Bold Crypto Revelation
- Justin Sun claims a surprising correlation between TRX and Bitcoin, with TRXs correlation with BTC at 0.37, the highest among major cryptocurrencies.
- TRX is now viewed as a significant player in the crypto space, with its ecosystem expanding through projects like USDT on Tron and the USDD stablecoin.
- Justin Sun purchased $14.32M in TRUMP coins to attend a private dinner with top investors, solidifying his influence in the crypto market.
Justin Sun, the founder of the Tron blockchain, has made a bold claim regarding the relationship between TRX, the native cryptocurrency of the Tron network, and Bitcoin, the worlds largest and most well-known cryptocurrency.
Through a post on X (formerly known as Twitter), Sun shared a remarkable correlation between TRX and Bitcoin, citing data that shows a strong relationship between the two digital assets.
Sun drew attention to a post from @0xKingsKuan, a Tron Foundation ambassador and popular X influencer with over 102,000 followers. The post referred to on-chain data from IntoTheBlock, which revealed an increasing correlation between TRX and Bitcoin. The data showed that TRXs correlation with Bitcoin is currently higher than its relationship with other major cryptocurrencies like Ethereum, Tethers USDT, Dogecoin, Avalanche, and Chainlink.
Of particular note, the correlation between TRX and Bitcoin stands at 0.37, the highest among the assets analyzed. In comparison, the correlation with Avalanche (AVAX) is much lower at 0.16, while with other cryptos, such as Ethereum, the correlation is either negative or nonexistent. The data is based on the past 30 days of on-chain activity.
Justin Sun Declares TRX Comparable to Bitcoin
In a tweet, @0xKingsKuan emphasized that TRX is no longer just a native token on the Tron blockchain. He highlighted the expansion of the Tron ecosystem over recent years, including the launch of USDT on Tron, the introduction of the USDD stablecoin, and the creation of SUN.io, a platform tied to Suns broader ambitions in the crypto space.
Justin Sun took to X to summarize the findings with a straightforward statement: TRX = BTC. This tweet suggests that Sun believes TRX has reached a level of importance comparable to Bitcoin in the broader cryptocurrency landscape.
The news comes at an interesting time for the cryptocurrency community, as the world continues to witness a rapidly changing landscape of crypto assets and institutional involvement. In a surprising twist, this week saw U.S. President Donald Trump announce a private dinner for top investors in his meme coin, TRUMP. Following the announcement, the price of TRUMP surged by more than 50%, fueling further discussions around the influence of prominent figures in the crypto space.
Justin Sun Buys $14.32M in TRUMP Coins for Dinner
In a follow-up development, @lookonchain, an X account dedicated to crypto analytics, reported that Justin Sun had purchased 1,176,803 TRUMP coins, valued at approximately $14.32 million, to secure a spot at the exclusive dinner. Suns wallet is now the largest holder of TRUMP coins, surpassing other major investors. Speculation is rife about the identity of a wallet listed as holding the 10th largest amount of TRUMP, with some speculating it could belong to Michael Saylor or his company, Strategy.
This isnt Suns first high-profile foray into the world of crypto auctions and exclusive events. Back in 2019, he famously won a charitable auction for a lunch with Warren Buffett, offering a bid of $4.5 million. Sun invited several top figures from the crypto world to join him, including Charlie Lee, founder of Litecoin, and Yoni Assia, CEO of eToro.
At that lunch, Sun presented Buffett with a smartphone loaded with Bitcoin and TRX, showcasing his belief in the future potential of both cryptocurrencies.
Related | TON to Officially Shut Down Toncoin Bridge by May 2025: Crucial Info for Users
Read more: https://www.tronweekly.com/trx-equals-bitcoin-justin-suns-bold-crypto/
Text source: TronWeekly
