Justin Sun, founder of cryptocurrency Tron [TRX] has announced to buy $1 Million worth of $GME and support wallstreetbets from Asia. Sun, announced this via his official twitter account which was further shared by wallstreetbets moderators.
I'll be buying $1 Mil of $GME tonight from Asia when the market opens! Wallstreetbets community know that over 4 billion Asian community & 20 mil $TRX community are behind you! Watch out, Asians are coming! @WSBChairman @wsbmod pic.twitter.com/YahpT5d4eV
— Justin Sun???? (@justinsuntron) January 28, 2021
Will Justin’s Bet on Wallstreetbets Bring TRON [TRX] in Limelight
Clearly, wallstreetbets’s war on wall street is favoring bitcoin and other cryptocurrencies like Dogecoin. Bitcoin price is also rallying and along with it Altcoin prices are surging. Meanwhile, for TRON things have been rough lately as once among top 10 cryptocurrencies it has now slipped to 21st position at coinmarketcap.
Justin has tried to revive the TRON through many attempts including famous Warrent Buffet lunch which did help to raise the TRON prices but not for very long.
Another big reason for TRON’s slipping growth is rise of DeFi and along with it Ethereum. Launch of Eth 2.0 also led to dilution of TRON’s major proposition i.e. scalability advantage against ethereum.
Wallstreetbets also announced Justin’s bet via their twitter handles and reddit group. This is a definitely a good move by Justin and we might see a short term spike in TRON prices but long term chances still look thin as Ethereum and DeFi are already breaking new ATHs.