Justin Sun: Tron is Digital Oil to Bitcoin’s Digital Gold & Android to Ethereum’s iPhone
Tron founder Justin Sun has now described his cryptocurrency as digital oil to Bitcoin’s digital gold.
“Bitcoin is like digital gold; TRON is like digital oil,” tweeted Sun on late Sunday.
Gold has made a new all-time high in 2020, and despite the decline in the last few months, the precious metal is up over 7% YTD. Acting like digital gold, bitcoin has outperformed bullion by a wide margin with year-to-date performance of 160%.
As for oil, it has taken a harsh beating. WTI, the crude oil that serves as one of the leading global oil benchmarks, is still down -30.48% after surging over 11% this month.
So, the comparison doesn’t work in Tron’s favor, the cryptocurrency which has fallen down the ranks to 17the place. The rally in the overall crypto market, however, saw TRX recording 135% gains in 2020.
A few days back, Sun called Tron an Android to Ethereum’s iPhone before the whole digital oil thing.
“Ethereum is like iPhone, TRON is like Android,” said Sun. He added,
“At the end of the day everyone will have a smart phone, but not everyone can afford iPhone. What matters the most is cheaper and scalability. TRON will eventually have more market shares than Ethereum just like Android did.”
Tokenizing BTC and ETH on Tron
While Sun is trying to find a narrative for Tron, the network has tokenized both the largest cryptocurrencies.
Earlier this month, Bitcoin was tokenized on Tron Network, and in just one day, it reached 15,000 BTC. But since then, the amount tokenized is stuck at 15k BTC while the holders have increased by 34.5% and transfers by 80.4%, per TronScan.
Just last week, Sun announced that ETH is also tokenized on Tron, which is supported by Poloniex, a cryptocurrency exchange acquired by Sun. He noted,
“ETHTRON is a TRC20 token based on TRON, which injects Ethereum’s value to the TRON network. Its advantages lie in reliability & efficiency. Easy conversion of Ethereum into TRC20 assets with guaranteed acceptance.”
Currently, 10,000 ETH have been tokenized with 468 holders and 6,387 transfers.
TRON (TRX) Live Price
1 TRX/USD =$0.1395 change ~ 5.53%