Tron Founder Justin Sun Makes Bold Claim Regarding Relationship Between TRX and Bitcoin

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

Tron founder Justin Sun has made a bold claim regarding the relationship between TRX and Bitcoin.

TRX Has Reached Levels Comparable To Bitcoin, Hints Justin Sun

Through a post on X, formerly known as Twitter, Sun highlighted a remarkable correlation between TRX and Bitcoin, citing data that shows a strong relationship between the two digital assets.

TRX=BTC https://t.co/8QpReP8SCk

— Justin Sun (@justinsuntron) October 26, 2023

The post, by Tron Foundation ambassador and popular X influencer @0xKingsKuan, who has over 102,000 followers, refers to on-chain data from IntoTheBlock, which revealed an increasing correlation between TRX and Bitcoin.

The data showed that TRX’s correlation with Bitcoin is currently higher than its relationship with other major cryptocurrencies like Ethereum, Tether’s 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.

In his post, @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, launching USDT on Tron, introducing the USDD stablecoin, and creating SUN.io, a platform tied to Sun’s broader ambitions in the crypto space.

Bitcoin has reached a level of importance in the cryptocurrency ecosystem that few other projects can match. Over the past decade, Bitcoin has become a symbol of innovation, decentralization, and the transformative power of blockchain technology.

At the same time, TRX has also risen to prominence in the crypto sphere, known for its high throughput and low transaction fees. The integration of USDT and other major projects on the Tron network has contributed to its expanding role in the DeFi and Web3 domains.

As the cryptocurrency market continues to evolve, it will be interesting to observe whether TRX can maintain its strong correlation with Bitcoin and further expand its presence in the decentralized finance ecosystem.

U.S. President Trump To Host Private Dinner For Top Investors In His Meme Coin

In other news, U.S. President Donald Trump will be hosting a private dinner for the top investors in his meme coin, TRUMP, at his Mar-a-Lago resort in Palm Beach, Florida, on Thursday, according to an invitation seen by Reuters.

The email invitation, written in bold characters and largely in all caps, was sent to the top 20 investors in TRUMP, inviting them to "a private dinner with president trump."

Those invited were told to R.S.V.P. by Wednesday evening to an email address that belonged to Trump's campaign.

The invitation comes as the price of TRUMP has soared by more than 50% this week, amid speculation about who will be attending the dinner and the role of prominent figures in influencing the cryptocurrency's value.

"PRESIDENT TRUMP WILL BE HOSTING A PRIVATE DINNER FOR THE TOP 15-20 INVESTORS IN TRUMP AT MAR-A-LAGO ON THURSDAY NIGHT," the invitation read. "HOPE TO SEE YOU THERE."

The dinner is expected to be a hot topic of conversation among cryptocurrency enthusiasts, as it could provide insights into Trump's views on the cryptocurrency market and his thoughts on the role of institutional investors in the industry.

It will also be interesting to see if any other major crypto figures, such as Charlie Lee, founder of Litecoin, or Yoni Assia, CEO of eToro, will be invited to the dinner.

At the lunch with Buffett, Sun presented the billionaire investor with a smartphone loaded with Bitcoin and TRX, showcasing his belief in the future potential of both cryptocurrencies.

However, Buffett remained skeptical, stating his preference for investments in valuable companies that produce products and contribute to society.

"I hope that someone will take some Bitcoin, and I will be there to take some Trump at the same price," Buffett quipped, referring to his willingness to invest in either cryptocurrency if the prices were comparable to those of high-quality stocks.output: