TRON FALL (TRX): ACCUSED OF SELLING MORE THAN 6 BILLION TRX, CEO JUSTIN SUN DEFENDS

A post published on Reddit accuses Tron's founder, Justin Sun, of selling billions of TRX tokens, contributing to the fall in the price of cryptocurrency.

Justin Sun accused of selling 6 billion TRX
TRON (TRX), one of the most popular crypto-currencies since the beginning of last December, has been diving since the night from Friday to Saturday. After reaching a record high of $ 0.28, the digital asset was trading at the time of writing less than $ 0.16.

Among the factors that could be behind this fall, we can cite this article published on Reddit. The author accuses Justin Sun, the founder of TRON, of selling more than 6 billion TRX (or about $ 1 billion) in the last three weeks.

To support his claims, he presented an Ethereum address (0x60dfe511ef939e25843471e34e856e5b2e07c92a) stating that it most likely belonged to Justin Sun.

The author of this article then questions the legitimacy of the project - which no doubt worried many investors, while the digital currency had already entered a bearish phase.

Here are two clues that lead him to think that this wallet belongs to Justin Sun:

The large volumes of TRX tokens that passed through this one
The fact that this address is linked to a CryptoKitties account using the pseudonym "justinpets"

Following these accusations, Litecoin's creator, Charlie Lee, posted a tweet in which he asked Justin Sun if he had just sold $ 500 million worth of TRX:

It was, at the same time, responding to the blows by Justin Sun the day before yesterday, when he said it was "a pity that @SatoshiLite [Charlie Lee] has sold all of his Litecoins" :

https://pbs.twimg.com/card_img/945945999804993536/2PFUlKLx?format=jpg&name=600x314
Mr. Sun had indicated that he had blocked all of the TRXs owned by his company until 202. He explained that his teams "trust #TRON, and have dedicated their lives to him".

This wallet would belong to a private investor
Justin Sun responded to these allegations by stating that the portfolio in question was owned by a private investor, which provided liquidity to the market by buying and selling TRXs.

He also indicated that the TRX tokens held by the TRON Foundation were stored on a "cold storage", and that it was possible to verify it by consulting this address.

https://etherscan.io/token/0xf230b790e05390fc8295f4d3f60332c93bed42e2?a=0xa18ff761a52ce1cb71ab9a19bf4e4b707b388b83

After this clarification, Charlie Lee replied, telling him he was going to delete his tweet.

It should be noted that if one is interested in the wallet belonging to "justinpets", one notices that the holder does not just give up TRX, but that it also receives regularly.

On certain English-speaking websites, the reactions were diverse. Trustnodes had yesterday denigrated the project, accusing it of "not having a product" and "being more focused on marketing and partnerships than on coding and roadmaps". For its part, TheRippleCryptocurrency.com felt it was just a passing panic and reassured readers about TRX's potential for appreciation.

Finally, we can simply think that the entry into a correction phase is perfectly logical after the outbreak of this digital currency, while its price had been multiplied by more than 100 in a single month.