The price of TRON (TRX) is skyrocketing, thanks in no small part to the efforts of the founder and CEO of the TRON Foundation, Justin Sun.
While the crypto markets suddenly recovered on May 26th, the TRON founder issued a tweet that made TRX speculators particularly optimistic. Sun teased that he had “big and amazing” news for TRON and BitTorrent tokens and that he would be more detailed after early next month.
“There is something big and amazing about #TRON and #BitTorrent. I will share with you after June 1st. I think I have 70% win and nail it. Fingers crossed! $ TRX $ BTT “
Something big and amazing about #TRON and #BitTorrent. I will share with you after June 1st. I think I have 70% win and nail it. Fingers crossed! $ TRX $ BTT
– Justin Sun🌞 (@justinsuntron) May 26, 2019
The entire cryptocurrency market rose $ 16 billion on Sunday, making it one of the most bullish trading days since early 2019. TRON outperformed both the bitcoin and altcoin markets, thanks in part to Sun’s cryptic but inspirational tweet. TRX was up 12 percent in price at the time of writing.
Sun and the TRON Foundation came under fire early the following month sudden departure the project’s chief technology officer, Lucien Chen. As opposed to an amicable split, Chen caused a stir in both the TRON community and the broader cryptocurrency landscape by citing ideological disagreements with founder Justin Sun. Chen specifically cited the growing disenchantment with TRON and the TRON Foundation, highlighting his belief that cryptocurrency is moving towards centralization.
Chen raised his concerns in a now-deleted Medium post, claiming that the TRON system of 27 super-representatives had contributed to the growing centralization of the coin. While Super Representatives are elected by TRX voters, the process has drawn criticism of the fact that Sun is one of the elected positions. According to Chen, super-representatives have too much influence on the direction and development of the TRON network, further explaining:
“There is a centralized reconciliation problem in the DPoS and Super Representative nodes. Some nodes have more than 90% of the vote with only a few voters. Therefore, the vote of ordinary private investors has completely fallen. The total number of TRX in TRON is 100 billion while the total number of votes for the Super Representatives is just under 8 billion. “
Chen also shot TRON on the way to the door, arguing that the project was far from achieving its commercial goals as a revolutionary platform.
“The TRON technology platform was built by me. I certainly know that the real internet applications cannot work at all on the TRON network at the moment. The TRON ecosystem is still a long way from commercial applications that users can really apply for. Bad money drives away well. So Dapp in TRON is basically the gambling and financing project. “
Despite the scandal in which Chen resigned his position as CTO, TRON has continued to build market dominance in both the valuation and the decentralized application (DApps) industry. Two weeks ago, TRON hired a new one All time high for Daily DApp users who enroll more than 102,000 users on May 16.