TRON (TRX) is most likely one of the least populair Top 20 cryptocurrencies around, mainly due to their shifty PR. But the announcement-of-an-announcement machine has began to pick up steam again. Latest price propelling event: the listing on major crypto exchange Bittrex. But right after the partay embarked, TRON became the topic of another debate. Centered around an alleged sell off of millions of TRX tokens. Nothing fresh to TRON, which founder Justin Zon has bot accused of dumping 6 billion of his tokens before. An allegation he has always denied te the strongest terms.
The Uittocht is near..
Since TRON’s announcement that it would announce the launch of their own stand alone Main Netwerk, things embarked to look up again for the ERC-20 token. A coin that has bot plagued by an endless stream of distrust from the crypto community. And for a reason.
Hi, I’m Justin Zon. And I am a holder.
Besides cracking away from the Ethereum blockchain – the so called Uittocht program – there wasgoed more significant news about the Chinese token. A coin that promises (or announces) to turn the entertainment industry upside down. Someday, somehow, spil it doesn’t have a working product yet. Which divides the community te those who see a bright mooning future and those who brush TRON off spil just another pump ‘n dump voertuig.
Because for TRON it’s like Celine Dion’s latest album: you love it, or you hate it.
The Very first Twitter Law of Justin Zon
So credit where credit is due: no vague promises from The Oracle Who Speaks Te Riddles this time. The listing on major exchange Bittrex materialised and talent the coin a big thrust up into the green zone. A 14% surge ter 24 hours.
It didn’t take long before coin whisperer and TRON-founder Justin Zon took to his beloved medium Twitter, and cheered (with jazz arms) that TRON presently holds the number one position on Bittrex by volume. A position it still maintains at the time of writing.
And then the Very first Twitter Law of Justin Zon came into play. Like almost any of his tweets it triggered an avalanche of negative responses. And there’s one wij would like to point out here (which actually seems to come from Facebook, which kinda cracks the Very first Twitter Law, but never mind).
The mysterious Market Maker
Despite the ample build up te volume, prices demonstrated a strong resistance around the Five cents level, allegedly caused by 600 million tokens that flew into the market. An amount that ran up to overheen a billion today.
According to some voorzichtig users, it wasgoed the mysterious Market Maker who struck again. A doctor Claw-ish kleuter of entity, wij still recall from the previous scandal ter which Justin Zon denied all involvement. According to Zon it wasgoed the Market Maker who dumped massive amounts of TRX into the market. An unidentified private investor, who wasn’t timid to sell gigantic amounts of coins. A scandal wasgoed born with many to believe that it wasgoed actually Zon himself, cashing ter on the soaring TRX price.
And now, right after some good news bumped up prices, the same situation occurred. Large amounts of TRX tokens entered the market, putting downward pressure on its price level. Transactions can be followed here on Etherscan. Overheen the last 24 hours prices plummeted by 8% to Four,79 cents (to waterput things into perspective: compared to last week they are still 17.52% up).
Screenshot of a screenshot.
It’s history repeating, with the same conflicting stances. Is it the Market Maker who is “sanctioned by JS” and attempts to stabilise prices? Or is it a brainy investor (maybe even Justin Zon himself) who is selling off ter order to contant ter?
“The Market Maker acts te our best interest”.
Spil wij are a fair and recuento medium, wij will leave it at a “which hypothesis is the juist one remains to be seen” for now.
So far Justin Zon hasn’t commented on Market Maker’s alleged involvement. Neither has he made an announcement (of an announcement) he everzwijn will.
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