Justin Sun Announces That TRON (TRX) Token Will Be Available on the Solana Blockchain

This announcement boosted TRON's price by 8%, with investors and traders expecting higher transaction speeds and utility

The founder of TRON, Justin Sun, announced in a post on X that the token TRX will be available on the Solana blockchain. The announcement has already boosted TRON’s price by 8%, with investors and traders expecting faster transaction speeds and utility between the two major cryptocurrencies.

"TRX will be soon on Solana. Ready to buy and collaborate," wrote Sun, adding no further details about the integration. TRON already boasts fast transaction speeds but may benefit from cross-chain operability. Integrating the two blockchains could increase the functionality of TRON, with Decentralized Finance (DeFi) and Non-Fungible Tokens (NFT), leading to broader cryptocurrency adoption. The move may also allow for more accessible swapping functions to increase crypto’s liquidity.

TRON has one of the busiest networks, with many users and profit from fees. TRON reportedly retains around $3 million in fees per month and generates around $275 million in fees per month. The TRON blockchain is widely used for transactions, token transfers, and stablecoins. The DeFi market has been slowing down on the network. TRON is largely disconnected from other networks and even some popular exchanges. There is also a lack of interconnectivity, with not many bridges between other blockchains. NFT is largely a separate market from the main network. TRON has the functionality of a remittance token, similar to Ripple or Stellar, and can only benefit from increased accessibility.

Integrating Solana and TRON may allow for cross-chain swaps, achieving this goal or reducing transaction costs and increasing TRON’s accessibility. As reported by CCIV, in 2018, TRON transitioned from an Ethereum-based blockchain to an independent network. TRON is a well-designed project with carefully crafted code, written in Java and OOP. However, it still lacks accessibility due to its isolation. Integrating Solana, therefore, may provide more TRON access. It remains unclear how the two tokens will be integrated, but the TRON token could be wrapped in Solana. Sun may provide more details in the coming days.

Sun was born in Xining, China’s Qinghai province, and studied history at Peking University and East Asian studies at Pennsylvania. He then discovered Bitcoin and returned to China in 2013 as a crypto investor. Sun later became the Chief Representative of Ripple Labs and, as one of the youngest crypto millionaires, caught the eye of Alibaba’s Jack Ma, who recruited him to join the business school Hupan University.

TRON surpasses Solana in terms of active users, having 3.1 million daily active users, as opposed to Solana’s 2.84 million. This results from decreased DEX activity on the Solana ecosystem and an outflow of users. TRON and Solana are two of the highest fee-generating chains, boasting low fees and thus attracting more customers. Lower fees, one could say, generate more fees because consumers prefer chains that don’t consume their funds.

A Solana user created a TRX meme token immediately after Sun’s announcement, allowing the token to rise to a height of $0.0006 until pulling the funds, leaving it at 99% of its value. Most of the user-created TRX tokens on Solana are scam coins.

Solana caused controversy this week by making an advertisement that joked about gender issues. The ad featured a character named America who had a condition called rational thinking syndrome. The therapist suggested making a new gender as a treatment. The ad confused many crypto investors, who thought it was in poor taste.

Sun has recently become one of the foremost investors in the World Liberty crypto project, a token backed by the Trump family. Sun invested around $75 million in the project, which would enrich the Trump family as it entitles them to around 75% of the profits. Sun is an official advisor to the project. Trump is the chief crypto advocate and Baron Trump is its chief DeFi visionary.

Jack Ma, founder of Alibaba, started Hupan University, an exclusive entrepreneurship school. Justin Sun was one of 30 students hand-picked by Jack Ma for its inaugural class. Students of the school had to own a business for over 3 years and employ over 30 people. A further requirement was that the business had over $4 million in revenue. Justin Sun was only 25 years old at the time and gained widespread recognition in China.