Chasing The Crypto Trend: Tron Attempts To Jump On DeFi Bandwagon

Tony "The Bull" Severino

5 years ago

2 mins read

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Tron founder and CEO Justin Sun was spotted on Twitter today, promoting a decentralized exchange for liquidity pooling akin to Uniswap and other DeFi platforms that have been booming recently.

Is this yet another attempt by the altcoin’s backer to tap into the latest trend, or is this simply meeting market demand with the services that are currently highly sought?

Justin Sun Introduces JustSwap, Aims To Steal Uniswap DeFi Thunder

In the cryptocurrency market, there are often trendsetters, and then there are dozens more that chase that same trend, only to fail at recapturing what caused the initial buzz in the first place.

With how DeFi is currently defying all odds stacked against it by bringing investors enormous returns, it isn’t too surprising to see altcoins playing the “me too” game and adding DeFi like features to their projects.

The latest cryptocurrency to do so appears to be Tron, according to some tweets from frontman Justin Sun.

Sun is hoping that his TRX token moons instead by targeting one of the hottest aspects of the decentralized finance bandwagon: liquidity pooling.

Recently, Uniswap has exploded in popularity, due to crypto insiders speculating on completely worthless tokens and experimenting with free-market finance apps. The risk hasn’t stopped millions of worth of capital from entering these projects via liquidy pools.

Sun was sharing links to a Tron-built version of Uniswap, dubbed, JustSwap. The similarities in the platform and its functionality are strikingly similar, showing just how closely Tron is trying to mimic the same runaway success as the Ethereum-based platform.

Tron Breakout And Bandwagon Hopping Could Lead To New Crypto Uptrend

This isn’t the first time that Sun has pulled a similar “me too” sort of scenario. Months ago, Bitcoin got the world’s first crypto-hashtag Twitter emoji: a simple Bitcoin logo “B”.

Soon after, Crypto.com launched one to celebrate their anniversary, then Binance did the same. Not to be outdone or left behind the trend, Justin Sun was quick to reveal the fourth Twitter emoji, for none other than TRX.

TRX is the native cryptocurrency to the Tron blockchain. The token recently started rising as part of the greater crypto tide, but indicators are now supporting a strong uptrend in the future if the altcoin can break out from downtrend resistance.

This latest move to hop onto the DeFi bandwagon could potentially be enough to propel TRX through resistance and cause a larger recovery and rallying the crypto asset fronted by Justin Sun.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
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Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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