🚨 [Analysis] The hottest cryptocurrency, Tron, rekindles memories of the Bitcoin bubble - Olga Kharif

Bloomberg Crypto examines Tron ([$TRX]), the digital token storming the bear market. Currently the ninth largest cryptocurrency by marketcap at $1.6 billion, Tron is growing on the reputation of founder Justin Sun and his recent acquisition of BitTorrent, the popular decentralized software file sharing service. Tron recently tokenized BitTorrent, BTT, opening up some 100 million BitTorrent users to cryptocurrencies, particularly Tron. Not only is BitTorrent profitable, generating some $25 million per year, but Sun is sitting on most of Tron's initial coin offering fundraising which garnished $70 million. So where is the money going? Decentralized apps (dApps) which Sun has thrown $100 million at. As of now, 107 dApps run on the Tron protocol competing against Ethereum's ($ETH) 1,347. Tron may be the underdog against Ethereum for now, but it boasts higher transaction rates as well as a Proof-of-Stake (PoS) protocol, something Ethereum has yet to migrate over to. For all the bright spots, however, Bloomberg cries foul: the story of a young entrepreneur with to much money to throw at endless tech projects is all to familiar. And so is the outcome.