Justin Sun, founder of TRON (TRX), announced in Twitter that “A very prestigious fund” decided to invest in Tron. However, he does not share any additional information, referring to the confidentiality.
This month TRON (TRX) shows us divergent developments . First, it jumped from $ 0.045 to $0.28, and then fell to $0.055. Thus, first investors received 600% of profit, and then they lost 80%.
Previously, from December 1, 2017 to January 5, 2018, Tron increased from $0.002 to $0.28. We can explain this growth by a competent marketing and advertising policies. It is also worth noting the general rise of the cryptocurrency market.
Accusations against Justin Sun
Later in the media there were a lot of accusations against the founder of the project.
Justin Sun was linked to a selling billions of TRX and cashing out the proceeds.
This was followed by another fiasco when it became clear that the Tron whitepaper had been copied, and some sections was taken word-for-word from IPFS and Filecoin whitepapers.
Earlier this week, Justin mentioned in Twitter that the former technical expert Alibaba has joined TRON team to work on smart contracts, and that the project has filed application with regulators in Japan. He noted that all this will lead to the fact that the TRX will be listed on the several Japanese exchanges. Just recently, Justin mentioned the partnership with the “space innovative company”, but, again, the details of cooperation were not disclosed.
If these claims come true, TRX might just have a chance to recover.
However, followers and investors strongly smacked down the recent announcement about the interest of the “a very prestigious fund” and other news of Tron’s PR campaign.
At press time, TRX is selling at $0.05. For the week, Tron fell -50% but for the month, it is up 700%.
Cryptocurrency users are keeping an eye on Justin Sun. Tron fans point to the plans of Sun, as well as to his connection with Alibaba chief executive and billionaire Jack Ma.