Justin Sun and the Tron Foundation have been called as marketing engines with multiple announcements coming out of the company’s stables every week. Sun, the CEO and founder of Tron, recently took to Twitter to tease the community about an upcoming update. He cryptically stated:
“New acquisition in #TRON ecosystem is done. Stay tuned! #TRX $TRX”
The tweet was broken down and analyzed by the Tronics community, with some opining that accusations usually entail a higher valuation, which in turn will result in a pump in prices. The value of the TRX token has been a subject of controversy in the cryptocurrency industry, and several players have expressed their disappointment on social media platforms.
At press time, the 11th ranked cryptocurrency was trading for $0.16 with a total market cap of $1.12 billion. TRX held a reduced 1.05 billion as 24-hour market volume after a massive bear crash saw almost all the cryptocurrency tank in values. In the past 24-hours, Tron had fallen by nearly 10 percent, making it one of the biggest losers after Bitcoin SV in the top 20 cryptocurrency club.
Some users have claimed that the price hit may have occurred due to Justin Sun’s impending Bank of America account closure. The CEO had revealed to the community that he had received a letter from the bank stating that the account will be shut down. This closure comes in the wake of significant institutions distancing itself from the digital assets industry with no form of explanation.
Despite these obstacles, Tron has continued to march on in the industry, and the Samsung integration was a testament to it. The South Korean technology giant had decided that they would be providing support for TRX as well as other TRC20 tokens. The integration was announced during Samsung’s developer conference, and a lot of crypto enthusiasts are waiting with bated breath for the commercial rollout.
With the latest announcement, Sun may be pointing to another primary listing like the McAfeeDEX news. Tron was one of the first few currencies to be launched on McAfee’s decentralized token exchange “with no restrictions.”
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.