Why Trx is Bullish?
Today cryptocurrency market is quite hyped for Defi, Yield Farming and Decentralised Exchanges. Even useless, copied and unaudited projects are mooning. Eth based decentralised exchange “Uniswap” defeat one of the leading centralised cryptocurrency exchange “Coinbase” in terms of volume. Although Eth network is quite expensive now. Eth gas fees hits its all time high, due to this hype whenever people trades or deploy any coin on ethereum network it costs like 20$ per transaction which is quite high while trading or tranferring funds. Trx supports all these stuffs with approximately zero fees and faster transaction. One can easily create and deploy smart contracts on tron blockchain. Many defi protocols already migrated or copied to tron blockchain which definitely increases usercase as well as demand. One of the Tron’s dapp a decentralised exchange “Just Swap” launched few weeks ago which gives head to head competition to Uniswap where one can easily Trade or Swap any coin or token within few clicks with much much lesser fees as compared to uniswap.
Recently Justin Sun annonced “Sun Token” which has approximately same supply as btc with enhanced features. One can Yield Farm “Sun Token” by staking Trx. After Genesis Mining one can mine “SUN” by staking coins like JUST,JST, USDT,etc. People seems very bullish for SUN Token within 2 days of announcement more than 8 Billion Trx (approximately 312 million dollars) got locked in staking which is ~10% of tron’s whole circulation supply. It lead to massive surge in TRON’s price.
If it goes like that tron may surpass its all time high very soon. If defi hype moves to trx then trx will keep mooning . Well, they are few reasons why trx is surging and may continue mooning.