The crypto space is dynamic and branding Tron ‘shitcoin’ is a pill the TRX community should be ready to swallow. According to a tweet by the Blockstream CEO Adam Back, Bitcoin is the best bet in the crypto sphere. Crypto users should buy and hold the largest coin by market cap because this is the “most effective thing”.
It is clear that the CEO tweet encourages crypto enthusiasts to adopt Bitcoin setting twitter on fire. He goes on to compare the industry with a Rome on fire. However, he adds that the market leader is poised to offer the best solution.
Branding Tron, to promote Bitcoin?
Many crypto lovers use bitcoin as the yardstick and Back is not alone. By branding Tron ‘‘shitcoin’’, he is wooing investors to increase their BTC holding. By abandoning altcoins, Bitcoin will expand thus giving it additional foothold across the globe. This might not increase the usage of the coin but urging for increased HODLing.
Those who know Back well know is a strong Tron (TRX) supporter and his tweet did not go well with some. In a response to one Twitter goer, Back flatly replied that ‘TRX is a ‘shitcoin’’. This could be an indication that he has shifted base from supporting TRX and jumping to Bitcoin.
Branding Tron ‘shitcoin’ is nothing new
The Blockstream CEO is not the first in branding Tron ‘shitcoin’. The subject of some altcoins being referred to as ‘shitcoin’ has been in the market. However, it becomes more intense when the Bitcoin market share continues to eat into that of altcoins. This is the situation that TRX has found itself in.
It is also clear that Tron’s coin TRX performance has not been impressive. This has partially been attributed to its current Tron network management. This has ushered in a period of uncertainty with TRX holders looking for greener pastures to invest in.
Tron’s Justin Sun has been running the show alone especially on social media and this has not impressed TRX admirers and the ‘shitcoin’ Tron branding is no surprise. The uncertainty might have driven the likes of Adam to shift his support to Bitcoin which is more decentralized. Many users are concerned that the network might be headed the centralized way but time will tell.