Tron Downfall: Is Justin Sun A Victim Or The Villain?



2019 has been for Tron so far – the Chinese probe against CEO Justin Sun, the cancelled Buffet Lunch, allegations of fake trading quantity, and today Justin Sun’s followers. Adhering to all these controversies, the market valuation of Tron has fallen out of $2.5 Bn at June 2019 into a little over $1 Bn at September 2019. 

Controversies Don’t Seem to End For Tron 

Bad times began for Tron if Justin Sun awakened the procedure for this Tesla giveaway and ended up giving just a totally paid back ticket into the niTRON Summit at 2020 rather than a Tesla car into the winner. But this was only the start. 

Is The Tron Volume Fake?

In April 2019, Blockchain Transparency Institute (BTI) released a report that suggested that nearly 85 percent of the quantity traded at the Tron market was totally fake.

“According to this report, from Tron’s reported quantity of $218 million, only $33.2 million value of TRX made up the actual trading volume. ”

The notorious Warren “Buffet”

Afterward came Justin Sun’s notorious lunch with Warren Buffett that he had ripped by simply paying a record $4.57 million at a charity auction on eBay. Four days before the dinner, Justin Tron cancelled the lunch using the excuse of a medical emergency. Tron tweeted its official site –

Justin TronSource: Twitter

Justin Sun became the topic of trolls on Twitter after that announcement. 

Justin SunSource: Twitter

There are two theories behind why Justin Sun actually cancelled the lunch daily. The more popular of both is that Sun had been detained by Beijing’s top internet regulator in China that was investigating him suspicions around illegal fundraising, money laundering, pornography distribution, and gaming. Another concept is that Justin Sun was in San Francisco that day partying using crypto influencers of which he posted photos on his Twitter account. 

Why is Justin Buying Twitter Followers?

Once again, Justin Sun is caught in a spate of controversy, this time round his Twitter followers, 

Josh Rager, a Twitter consumer has alleged that Justin Sun has been adding followers on his Twitter account. 

Justin TronSource: Twitter
Josh RagerSource: Josh Rager’s Twitter

The dialogue has received mixed responses from the community. Although some have sided with Rager and accused Justin Sun of being a scamster, others will be still sympathizing with Sun and phoning Tron a item. 

Source: Twitter
But, Is Justin a Victim?

Finance Magnates’ interview with Tron spokesperson Cliff Edwards reveals that there could be another side to the tales around Justin Sun and Tron. Edwards indicates that Tron and Justin Sun have a disproportionate quantity of flak from the community which is instigated by competitions. 

“The other thing is this type of tribalism from the market. You look at other technician rivalries — even Apple vs Microsoft — and something similar is different. Together with crypto, I presume that, since money is involved, it makes things a whole lot more heated. People today want ‘rsquo & their; money to acquire and so everything becomes shit coin & lsquo; a,” states Edwards.

On the advancements from the Tron ecosystem, which happen to be taking Edwards states –

“If I had to rate us so far, I’d probably provide us a B. I believe that our major issues have come out of a disconnect between our expectations surrounding product development and how simple it’s to build the technology we would like. ”

He adds that Tron is in need of work for its projects that are decentralized.

But Declining Tron Performance is Worrisome

Whether Tron is a excellent product or not might be a matter of debate, however Tron’s investors have a reason to be unhappy as Tron’s historic returns on investments have mostly been at the red in 2018 and 2019.  

However, that the Buffett Lunch could nevertheless be on the cards, as Edwards states that –

“It’s becoming rescheduled. ”

What do you consider this Tron job? Share your perspectives with us at the comments!

The post Tron Downfall: Is Justin Sun A Victim Or The Villain? Appeared first on Coingape.

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