As you may be aware, I've been a fan of Tron network for one primary reason. Rock bottom transaction fees.
Most of the DeFi projects in Tron do not have the capital that Ethereum projects have flowing in.
This is a double sided coin. One the one hand, for under $1000, you're usually getting 1-3% of most of the popular pools. But the TX volume tends to be lower and when a "whale" does exit the project, the token values tend to drop very far, and very fast.
But long term, I believe Tron will be a contender due to its super high speeds and lower transaction fees.
In case you missed the news, Justin Sun, TRONs CEO ran a competition to give away a tesla to a lucky winner and up to $20,000,000 in prizes.
This created a bit of a frenzy. On top of this, another Tron chain token called BTT ran another promotion to eligible participants on certain exchanges.
Yet again, Justin Sun botched the entire thing.
A cursory search on google with "Justin Sun + Telsa" will bring up loads of articles about how the giveaway seemed suspicious.
He doubled down and gave away 2 Teslas, but the damage was already done.
As of this post being written, Tron is up 11%, down 8% from yesterday.
As I stated in my previous blog posts, Justin Sun has to leave Tron entirely for it to have a shot at some legitimacy in the crypto community. The entire chain is suffering from his bad reputation, and his latest attempt at incentivizing the network backfired. Luckily, so far, it is only towards his reputation and not the chain.
As long as Tron transaction fees remain virtually free due to freezing / unfreezing of assets. There is locked potential in this chain for dapp projects.
No Telsas on my end....yet
Old Grey Fox
As always : THIS IS NOT INVESTING ADVICE. DO YOUR OWN DUE DILIGENCE AND RESEARCH. THIS IS JUST ME SHARING MY STORIES AND views / news updates.
Alphanova.crypto
Above is the .crypto address for anyone who wants to donate for my words.
And if you happen to be a Publish0X admin reading this, PLEASE CAN YOU GIVE US THE OPTION OF BEING REWARDED IN TRC-20 tokens vs only ERC-20 tokens? It's going to cost me $5+ to send the $1 which I have yet to earn from eth wallet to anywhere else.
PLEASE IMPLEMENT NON-ERC-20 tokens as rewards. THANKS!
