Justin Sun announces wrapped TRON (TRX) is coming to Solana

Justin Sun, the founder of TRON (TRX), announced the token would soon have a wrapped version on Solana (SOL). Until recently, the two chains ran in parallel, each with a slightly different user base. 

TRON (TRX) may soon have a Solana version, bridging two of the most active ecosystems. Justin Sun, the founder of TRON, announced the upcoming partnership. 

TRX will be soon on solana. Ready to buy and collaborate 🤝

— H.E. Justin Sun 🍌 (@justinsuntron) March 18, 2025

Sun’s announcement comes just days after he hinted at big developments for TRON. He has not mentioned details on what types of partnerships will be achieved on Solana. However, Sun has often bought into other projects, becoming a key partner and investor.

TRX tokens on Solana may boost demand and tap a new source of liquidity. Solana carries its native DeFi sector, which may boost lending and use TRX as collateral. TRX has not launched on Solana yet, and any similar tickers may be meme coin launches, attempting to spoof traders. 

There are still no details on how TRX will be introduced to Solana – whether through a bridge, as collateral, or through other means. The most bullish scenario envisions more growth for the Solana version of TRX, as it would tap a wider community and US-based traders. 

Following the news, TRX recovered to $0.22, up over 4.8% for the past day. TRX remains one of the more resilient assets, as its supply diminishes following regular token burns. A shift to Solana and a wider user base is seen as a chance for TRX to revisit a higher price range. 

Immediately after the announcement, a new meme token was launched, copying the TRX logo and ticker. The token peaked at $0.0006, not even reaching the price of the original asset. Soon after that, the new token ended up with a rug pull, erasing 99% of its value. Most of the new TRX tokens on Solana turned out to be scams, prepared for a rug pull by the token developers.

In addition to the main TRX token, multiple copycats appeared, also trying to syphon liquidity off Solana traders. Despite the slowdown, Solana remains a key launchpad for new assets. 

TRON ecosystem remains a leader in fee generation

TRON reports activity that makes it one of the busiest chains in terms of user numbers and fee generation. The TRON network generated $275M in monthly fees, based on TokenTerminal data. After paying out its validators, TRON retains around $3M in weekly fees. 

The TRON network is most widely used to transfer tokens and stablecoins. TRON still carries over $4.55B in value locked, but its DeFi sector has been slowing down. The TRON ecosystem is also disconnected from most other chains and has few bridges and tools for cross-chain liquidity. Gaming, NFT and meme tokens are also separated. 

At the same time, Sun seeks out multiple crypto partnerships in a bid to keep TRON relevant. Sun has previously partnered with Trump’s World Liberty Fi by purchasing $30M worth of WLFI tokens. 

TRON has also partnered with the Wintermute market maker, as well as Wrapped Bitcoin (WBTC), to boost liquidity and valuable reserves on the network. Previously, TRON was viewed with some skepticism on potentially faked volumes or generating synthetic assets without sufficient collateral. 

Solana slows down its activities

The outflow of users from Solana continues, and the average count is now at 2.84M per day. TRON surpasses that activity level, reporting over 3.1M daily active users. 

Solana’s slowdown is mostly due to outflows from DEX activity, as well as new meme token generation. However, Solana and TRON are among the top fee-generating chains, and have a history of offering relatively low fees. 

The slowdown affected the SOL market price, which slid to $122.15 as the market retains its bearish trend.

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