Not all of the top markets tend to follow Bitcoin’s bearish price trend at this time. That in itself is a good sign, primarily because all projects have their own individual value and worth. Despite facing a ton of controversy, the Tron price is still rising. Given how irate a lot of community members are over Justin Sun’s “botched” Tesla giveaway, that situation may change sooner rather than later.
Tron Price Momentum Can Sour at Any Time
Although the actions of Justin Sun and the value of the Tron network should be seen as two separate things, that is not necessarily the case for everyone. In fact, it would appear the community is starting to turn its back on both Sun and Tron because of the recent Tesla giveaway “shit show”. Cryptocurrency community members can be a feisty bunch, although drawing a winner, sharing it in a video, then pulling the video offline and posting a new random draw video will not bode well for the public image of Tron either.
Over the past 24 hours, the Tron price has gained 1.35% to rise to $0.023548. There is also a near 2% improvement in TRX/BTC, pushing the ratio to 582 Satoshi. It still seems unlikely a push to 600 Satoshi will occur over the weekend, although one never knows what the weekend will bring. There is also more than sufficient trading volume to keep things going right now, although it remains to be seen how dire things will get due to this community outrage. Maintaining the $11 rank in market cap is also a big challenge, it would seem.
The big news is how Justin Sun recently confirmed he would live stream the “Tesla contest” winner. While that video was indeed uploaded to the internet, it was also rendered invalid” by Sun himself due to a “Twitter glitch”. A bit unusual, especially when considering how the video can be seen on Twitter just fine. As such, the person who effectively won the giveaway will not receive his prize, which has created a lot of bad blood between Tron, Sun, and the crypto community.
— Justin Sun (@justinsuntron) March 29, 2019
It would appear this odd way of dealing with the crucial giveaway has already created a lot of bad blood. Splash, for example, wonders if anyone is even surprised by this “scam”. The answer to that question seems rather self-explanatory, although it should not serve as a platform to promote both EOS and Cardano in the process. Even so, the way this giveaway was conducted tends to raise a lot of new questions which do not bode well for the Tron project as a whole. Once a level of trust is thrown out of the window, it can never be regained in full.
Is anyone actually surprised with the TRX competition scam. Tron is overhyped and overvalued, built on false hype and lies. EOS and Cardano are far superior tech and doing it organically without all the bullshit. So no surprise the Tesla comp is full of lies too. #trx
— splash (@splash77059410) March 29, 2019
CryptoGunby is already past the point of bashing both Tron and Justin Sun over this “outrageous” turn of events. Instead, he took the more mature approach and removed all references regarding Tron from his Twitter profile. It will be interesting to see how this entire situation will be resolved in the near future, as there is still a chance everything will be made right. It seems unlikely at this time, but one never knows how things evolve in the cryptocurrency world. Stranger things have happened, after all.
— CryptoGumby (@NWQLD) March 29, 2019
Based on all of the extracurricular activities surrounding the Tron creator, it will be interesting to see if the TRX price is affected in any way. Knowing how this particular market evolves, it seems unlikely the “Tron army” will let that happen. As the top markets remain bearish, though, there will be some repercussions for TRX at some point down the line. This weekend may prove to be very crucial in many different ways, although the price direction remains uncertain.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.