Tron founder Justin Sun says buy Ethereum instead of selling

Tron founder Justin Sun is encouraging investors to accumulate Ethereum amid positive changes in crypto macroeconomic policy.

The crypto market continues its upward trend with Bitcoin hitting higher highs while top altcoins such as Ethereum (ETH) and Tron (TRX) benefit. Ethereum is now making a fresh attempt to reach the long-lost $3,000 mark after surging over 5% today to trade at $2,950.

What is noteworthy is that the market-wide uptrend has continued for four consecutive days and the market sentiment is now “greed”. However, Justin Sun, founder of the Tron blockchain network, believes there is still more room for further upside.

This is not the time to sell, keep buying and building

In a recent tweet, Sun expressed his optimism about the current state of the crypto market, particularly when it comes to Ethereum.

Sun pointed to improvements in macroeconomic policy and expressed confidence that the market outlook is brightening, suggesting now is an ideal time for investors to focus on “accumulating and building” rather than selling holdings.

Given the improving macroeconomic crypto policy, we are very optimistic about the market outlook (including ETH). Instead of selling, we believe it is an excellent time to continue accumulating and building.

— ER Justin Sun🌞(Attitude) (@justinsuntron) November 7, 2024

For comparison, the crypto industry is waiting for transparent and favorable crypto policies to emerge after crypto-friendly Donald Trump was elected President of the United States. The Crypto Basic recently drew attention to seven of Trump’s most important campaign promises.

Trump vowed to oust SEC Chairman Gary Gensler, whose tough stance on cryptocurrencies has drawn criticism. He also proposed the creation of a national Bitcoin reserve and suggested that Bitcoin could be used to reduce the US national debt. To further boost the crypto sector, Trump promised to make the US the crypto capital of the world with business-friendly regulations.

Additionally, Trump plans to ensure that all remaining Bitcoins are mined in the US to ensure the country’s leadership in the sector.

He also committed to introducing clear, fair crypto regulations and establishing a Crypto Advisory Council to guide policy. Another key promise is to defend the right to self-custody, which allows Americans to control their crypto assets without third-party platforms.

Finally, Trump expressed his opposition to central bank digital currencies (CBDCs) and vowed to block their development to protect financial privacy.

These promises signal potential big changes for the US crypto industry once Trump takes office on January 20, 2025.

Tron founder uses China for similar pro-crypto measures

In line with these developments, Justin Sun also called for other major economies such as China to take similar pro-crypto measures. Back in July, Sun called on China to reconsider its stance on Bitcoin, suggesting that competition between the US and China over Bitcoin policy could benefit the entire global crypto industry.

Amid this promising future, industry experts like Sun emphasize the positive outlook for the crypto market and suggest that investors should consider accumulating and expanding their holdings rather than selling assets.

Essentially, the crypto community is expecting significant changes that could drive further growth in the sector.