Key takeaways
- TRON founder Justin Sun emerges as one of the biggest ETH holders.
- Ethereum proponents displeased with the development as Sun has always been a critic of Ethereum.
Serial entrepreneur Justin Sun, the founder of cryptocurrency platform TRON, hasn’t always had a smooth run with Vitalik Buterin, the co-founder of Ethereum. In the past, they both have thrown jabs at each other on social media.
Back in June, Sun took a jab at the Ethereum network by emphasizing claims that Ethereum’s EIP-1559 upgrade amounted to them trying to be like TRON by burning fees.
Ethereans react to Justin Sun’s massive Ether position
Seeing how the TRON founder has not been a fan of Ethereum, proponents were perplexed when Sun revealed he holds over 54,000 ETH.
By the current market price of Ethereum, his holdings are worth over $233 million. Market participants are however not too pleased with the billionaire’s antics in the market. Sun has once again entered discussions after one pundit on Twitter, “Icebergy,” pointed out that he was one of the richest persons in the world by liquid net worth.
Responding to Icebergy’s tweet, Ethereum proponent “IamDCinvestor” expressed his displeasure at the development saying that Sun despite repeatedly disparaging Ethereum and pumping TRON was behind the scenes accumulating what he openly criticized. The pundit added that the fact that a figure like Sun could be one of the “biggest and richest Ethereum holders” could mean that a lot of critics were stacking Ether in secret.
Apparently, Justin Sun does not only have a huge Ethereum position but is also heavily invested in decentralized finance platforms on Ethereum. It was revealed back in March by Igor Igamberdiev, an analyst at The Block, that Justin Sun had invested more than $1.6 billion in Ethereum based DeFi projects. The entrepreneur seems to have overlooked most DeFi platforms on TRON to invest in Ethereum’s instead, a move that has earned him brickbats.
Could Buterin be Stashing Tron Secretly as well?
In contrast, it does not appear likely that his counterpart at Ethereum, Vitalik Buterin, is returning the same sentiment towards TRX.
This is because Buterin has expressed his aversion towards TRON and its founder. Back in February, Buterin openly stated that the TRON network was an example of how internal corporate issues can act against the progress of a project.
He maintained that the “scamminness” of TRON was preventing them from being able to recruit developers to their ecosystems. In another instance, Buterin said that people who were predicting another 1000x growth in cryptocurrencies from their present state were “incentivizing people to act more like Justin Sun.”
