Coin 'Tron' Shines with ChatGPT Halo... Stands Firm Alone in Bear Market

Increased Interest in AI and Blockchain Integration Attempts
The Only Coin Among Top 20 by Market Cap Showing Upward Trend

[Asia Economy Reporter Lee Jung-yoon] Tron is gaining increasing attention from investors as it expands its connections with the artificial intelligence (AI) industry, which has been spotlighted by the emergence of ChatGPT. Although the cryptocurrency market took a direct hit after the U.S. Securities and Exchange Commission (SEC) imposed sanctions on Kraken, the world's third-largest virtual asset exchange, for its staking services, Tron appears to be unaffected by these adverse developments.

Tron refers to a blockchain platform for the entertainment industry system and the virtual asset used within it. It provides infrastructure for developing decentralized applications (DApps) and content. By building a decentralized content entertainment ecosystem, users can freely create content, post it on the blockchain, and store and own it. The goal is to establish an entertainment system where developers and advertisers from platforms like Apple’s App Store, Google Play Store, Facebook, and YouTube can directly transact with users without intermediaries, significantly reducing fees. Users purchase and distribute entertainment content such as online videos and games using the virtual asset Tron.

According to CoinMarketCap, a global virtual asset market tracking site, as of 3:19 PM on the 14th, the price of Tron was $0.06584 (approximately 83.55 KRW), up 1.05% from the previous day. Compared to $0.0545 at the beginning of this year, Tron’s price has risen 20.81%, and it increased 2.46% compared to a week ago.

Despite the Kraken incident impacting the cryptocurrency market, Tron’s price has held up well. On the 9th of this month (local time), the SEC fined Kraken $30 million (approximately 38.3 billion KRW) for unregistered sales and provision of staking services. Kraken subsequently suspended staking services except for Ethereum. As a result, major cryptocurrencies such as Bitcoin and Ethereum experienced price declines. Bitcoin, which had maintained the $23,000 range, dropped to the $21,000 range due to this incident, marking a decline of over 5% compared to a week ago. Ethereum also fell more than 8% during the same period.

Among the coins ranked within the top 20 by market capitalization according to CoinMarketCap, all showed a downward trend during this period except for Tron and stablecoins designed to be pegged to fiat currencies. Staking refers to the process of delegating virtual assets to a blockchain network using the Proof of Stake (PoS) method and earning coins as a reward for participating in blockchain operation and validation.

[Image source=Reuters·Yonhap News]

The reason Tron’s price is holding up is interpreted as its recent push into the AI industry. Justin Sun, the founder of Tron, announced on his Twitter on the 3rd of this month that "a decentralized payment framework for AI systems will be provided." He added, "The Tron blockchain can offer the best infrastructure to OpenAI, ChatGPT, and all AI developers through a powerful payment system," emphasizing, "With Tron’s fast and low-cost transactions, developers can easily and securely receive payments for AI services."

Tron DAO (Decentralized Autonomous Organization) also tweeted on the 10th, stating, "Tron is striving for integration between AI and blockchain and aims to build a safe and decentralized ecosystem through this." It explained, "The $100 million AI development fund demonstrates a visionary approach to realizing the potential of AI technology."

This content was produced with the assistance of AI translation services.