The SUN Coin, a new entrant in the cryptocurrency market, operates within the growing DeFi sector on the Tron (TRX) blockchain. The brainchild of Tron’s founder, Justin Sun, the SUN Coin was established to bolster the network’s position against Ethereum’s successes in DeFi. Justin Sun, known for his competitive stance towards Ethereum, has been instrumental in overseeing the coin’s development, managing the nodes, and influencing decisions due to his significant stake in SUN.
Origins and Control of SUN Coin
The inception of the SUN project is a strategic move to keep pace with DeFi advancements. Launched as a TRC-20 token, SUN Coin’s initial mining phase commenced in September 2020, exclusively performed by developers. Post-launch, users have the opportunity to stake TRX tokens, earn rewards, and obtain a say in SUN’s governance. Despite decentralization claims, the project’s control remains tightly held by Justin Sun.
Steps to Secure SUN Coin
For those interested in purchasing SUN Coin, the primary marketplace is Binance, the largest crypto exchange by trading volume globally. The process involves creating a Binance account, which then allows access to the SUN/USDT trading pair known for its robust liquidity. The trading pair has demonstrated notable trading activity, with $5 million worth of trades in the past 24 hours.
Moreover, Binance’s platform offers versatility in funding options. New users can either deposit Turkish Lira (TRY) after opening an account or transfer other cryptocurrencies directly onto Binance to start trading. This flexibility makes the platform attractive for various investors looking to diversify into SUN Coin.
Overall, SUN Coin’s integration into the DeFi space and its availability on prominent trading platforms like Binance signal a growing interest in alternative blockchain projects that rival established networks like Ethereum.