Justin Sun Sells Tronix
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Bitcoin, Ripple and Ethereum are still grabbing most of the headlines in the cryptocurrency word, but one company has been all over the crypto-world news today. Big time Justin Sun has decided to step down from Tronix. After multiple failed attempts at gaining momentum, he has been plagued by setbacks.
"Our burn rate was really high," Justin Sun commented recently. "We had high ambitions and just not enough funds to get through it. I still have high hopes for the platform and I am confident that someone will eventually pick it up, but that's not going to be me."
Justin Sun had temporarily moved to California to set up shop focusing on his platform. It's still unsure if he will stick around, or head back to China.
What Is Tron About?
Investors are taking a liking to TRON for several key reasons. First, the mission of the TRON team is to create a global entertainment system based on blockchain technology that gives users control and ownership of data in the system. Of course, the exchange of data would be facilitated via Tronix, the coin of the TRON network. In theory, TRON could serve as an alternative global economy in which the users control the goods, services and currency.
After gaining 500 percent in a week back in December and nearly 10,000 percent in a matter of months, TRON now has a market cap of more than $13 billion.
This is a satirical website. Don't take it Seriously. It's a joke.
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