Hyped up by its controversial founder, TRX is a speculator’s dream come true. But that makes it risky for the long term.
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Approximate Market Cap: $2 billion
Year Established: 2017
Cost Per Transaction: N/A
2020 Return: 103%
Score: ★★
Since its 2017 launch, TRON has been on a wild ride. The currency peaked in January 2018 at 8.01 cents before plummeting to 2.3 cents just two months later. It has recovered only slightly since. So, why does this Ethereum competitor make the “top-cryptocurrency” list?
In 2020, its founder, Chinese millionaire Justin Sun, bought BitTorrent, a central peer-to-peer file-sharing system. That put TRON right back on the map. Controversy has followed Mr. Sun everywhere — employees have noted stacks of hundred-dollar bills on his desk, while others have pointed out plagiaristic similarities between TRON and Ethereum.
Investors in TRON will need to accept the bamboozling required to push this altcoin. Everyone else might consider staying away.