Justin Sun, the founder of the TRON blockchain, has significantly increased his financial support for projects related to President Donald Trump. In a bold move demonstrating considerable confidence, Sun has committed to purchasing $100 million of the TRUMP memecoin, created by Trump. This follows a previous $40 million investment in the same token.
Justin Sun's Interest Goes Beyond Memecoin
Previously, he invested $30 million in World Liberty Financial (WLF) before Trump took office, later increasing his stake to $75 million - a decision that surprised some traders. His focus on Trump-linked projects seems strategically aligned with the President's strong pro-cryptocurrency stance.
Sun's support is not merely financial. He claims that TRON will add compatibility with the TRUMP token, allowing interaction between the two ecosystems. This technical integration aims to create a more flexible and user-friendly cryptocurrency environment, promoting greater interaction among users.
The Relationship Shows Signs of Reciprocity
WLF is reported to have allocated millions of dollars to purchase TRON's native token, TRX. The broader initiative consolidates the functions of the TRON and TRUMP tokens, targeting an ambitious goal: to scale the blockchain to potentially surpass Ethereum. Sun's technical contributions are expected to enhance the appeal of the TRUMP token in the cryptocurrency trading community.
Sun publicly emphasized his belief in the TRUMP token, stating that its development alongside a 'strong community' and 'valuable geopolitical relationships' are key drivers for his long-term strategy. He believes these factors are crucial for sustainability, an area where many memecoins are struggling.
The market's immediate reaction to Sun's latest commitment has been positive, leading to a 6% price increase and a 200% rise in TRUMP token trading volume. Meanwhile, TRON reported higher USDT trading volume than Ethereum on its network.
Despite Sun's strong support and the optimistic sentiment it creates, skepticism remains in the professional trading community. The primary concern stems from the ongoing bearish trend of the TRUMP token, highlighting the inherent volatility and risks of memecoins, even when backed by prominent figures.
TRON Establishes Strategic Partnership With Mastercard APAC
The TRON Foundation has partnered with Mastercard's Asia-Pacific division to enable TRX payments on virtual debit cards linked to Mastercard. Users in Singapore, Vietnam, and the Philippines can now spend TRX directly at retail stores and e-commerce platforms. This is expected to significantly boost the real utility of TRX across Southeast Asia.
TRON Becomes Official Blockchain Partner of the Africa Digital Identification Network
TRON DAO has signed a multilateral agreement with the Smart ID initiative supported by the African Union. The project will utilize TRON's smart contract layer to verify and store decentralized identity records in six African countries, focusing on fintech and mobile credit scoring. This event marks TRON's step into Web3 public infrastructure services.
TRON (TRX) is trading at $0.2987, up 2% in the past 24 hours. The current market capitalization stands at $28.3 billion, supported by significant 24-hour trading volume of $1.08 billion, indicating growing investor interest and increasing activity on decentralized applications supported by the TRON ecosystem.
TRX is currently testing a crucial psychological and technical threshold at $0.30, which has served as a resistance level in previous market cycles. The coin has formed a gradually ascending triangle pattern over the past two weeks, with higher lows creating pressure towards a breakout.
If TRX surpasses the $0.30 level with confirmation, the next major resistance levels will be $0.315 and $0.335, while support levels are at $0.284 and $0.265. $TRX