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Highlights
- SUN is a cryptocurrency developed on the TRON network, which is described as a protocol primarily used for the development of decentralised finance (DeFi).
- Using the proof-of-stake consensus, SUN is considered a multifunctional governance token that grants token holders voting rights, governance in community staking rewards etc.
- SUN is ranked 310 on CoinMarketCap, and it is currently trading at US $0.035457 with a 24-hour trading volume of US $539,277,861.
Ever since Justin Sun, founder of TRON, launched the SUN crypto in September 2020, it has captured the imagination of the cryptocurrency world. Even though it didn’t have a great start in 2020, this year it reached new heights. It touched all-time high of US $50 in 2021, before the market crashed in May. But from 20 October, SUN crypto again showed signs of resurrection.
SUN is a cryptocurrency developed on the TRON network, which is described as a protocol primarily used for the development of decentralised finance (DeFi). Using the proof-of-stake consensus, SUN is considered a multifunctional governance token that grants token holders voting rights, governance in community staking rewards etc.
What made SUN crypto surge?
One of the main reasons for the SUN crypto’s recent surge is the acquisition of JustSwap, which will now allow the SUN crypto to upgrade itself into the most prominent decentralised exchange in the TRON ecosystem.
Also read: Watch out for these 4 highly anticipated Bitcoin ETFs
TRON’s new DeFi move will allow users to utilise its on-chain token swap, liquidity mining, stablecoin swap, staking, and self-governance. Furthermore, as a native utility token on SUNSwap, SUN crypto will be used as its governance protocol.
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With it, the liquidity providers stand a chance to earn rewards, and users can buy back tokens with revenue on the platform, manifesting TRON’s original aspiration to extend benefits to the broader public. Already registering rewards of over US $70 million on TRX, WBTT, WIN, JST etc., it’s considered one of the best rewarding Defi mining campaigns in the crypto industry.
Also read: How rollout of Bitcoin ETF in US could be a watershed moment
So, what’s its price prediction & is it a good investment?
SUN is ranked 310 on CoinMarketCap, and it is currently trading at US $0.035457 with a 24-hour trading volume of US $539,277,861. At the time of writing (BST 8:30 am), SUN was up by 21.85% in the last 24 hours. SUN currently has a live market cap of US $176,298,671 with, a maximum supply of 4,972,136,000 SUN coins.
Is SUN crypto a viable option to invest right now?
According to market experts, especially now following the acquisition, the SUN crypto presents itself as one of the most profitable investment options in the market.
Not only does it present a bullish run going forward, but with the crypto market overall at a high at the moment, it does present a viable option. It is expected that that SUN crypto will yield approximately US $591.78 by 2026.
Conclusion
The JustSwap acquisition is an essential development for SUN crypto.
Going forward, as TRON’s Defi ecosystem expands, SUN crypto along with JustSwap can prove to be a significant force in the crypto ecosystem. SUNSwap does have the potential to become one of the largest decentralised exchanges in the whole industry. It is proving to be one ideal investment option for the investment.
