Justin Sun Reflects on Early Crypto Days: Bitcoin, Ripple, and Ethereum 

• Justin Sun entered crypto in 2012, buying Bitcoin when it was under $1, and foresaw blockchain’s transformative potential.  
• Sun’s team championed smart contracts, enhancing blockchain flexibility and scalability during Ethereum’s ICO rise.  
• Sun’s investments and innovation cemented his role in the early days of decentralized finance and blockchain advancements.

Justin Sun, the founder of Tron, has shared details about his initial journey in cryptocurrency. His entry into the industry coincided with Bitcoin’s early days when it was valued at less than $1.  

Sun’s foray into the crypto space began in 2012 when Bitcoin was still a little-known asset. Remarkably, platforms like Taobao in China facilitated Bitcoin transactions. The cryptocurrency’s accessibility and low price at the time marked a stark contrast to the prominent exchanges and soaring prices seen today.  

Involvement with Ripple Labs  

Soon after, Sun joined Ripple Labs, where the team focused on developing the XRP token. During his tenure, he recognized the transformative potential of blockchain technology. His experiences at Ripple paved the way for a deeper understanding of the industry, inspiring a vision to create innovative blockchain applications.  

By 2014, Sun and his team began exploring new possibilities for blockchain, particularly in smart contract development. At the time, this concept was entirely novel and had yet to be implemented by existing cryptocurrencies. Sun’s team believed smart contracts could significantly enhance blockchain’s adaptability and applications, which motivated their work in this area.  

Ethereum’s ICO and New Opportunities  

Ethereum’s arrival in 2015 validated Sun’s vision for smart contracts. Recognizing Ethereum’s potential to revolutionize the industry, Sun and his team invested in its initial coin offering (ICO). Moreover, platforms like Poloniex emerged during this time, providing avenues for trading Ethereum and laying the groundwork for decentralized finance (DeFi).  

The introduction of ERC-20 tokens further strengthened Ethereum’s position in the crypto space. Meanwhile, Sun and his team pursued their goal of developing a more efficient blockchain. They sought to create a scalable platform with faster and more affordable smart contract execution compared to Ethereum.  

Sun also reflected on Bitcoin’s price volatility in its early years. Its constant fluctuations made valuation challenging, with Ethereum often serving as a benchmark currency due to the absence of fiat pairings.