Failed releases? EOS drops 16% and Tron (TRX) drops 11%
Both EOS and TRON are making the latest news with their two major releases. However, in the last 24 hours, both currencies have experienced a double-digit fall in their prices. EOS saw a -15.45% drop and TRON with -10.01%. EOS is in 5th position and TRON is in 10th position, these are the only two coins that have faced a double-digit drop.
The drastic drop in the prices of the two currencies is speculated as a result of the Bitcoin crash on Saturday night, when it fell almost $ 400 in less than 2 hours.
Frustration among investors
The fall in the price of EOS, according to market speculation, may be the result of its voting chaos. This voting chaos has created a lot of frustration among investors. It is said that only 2% voted. This was a setback because there was no protocol followed by the team, but it was entirely left to the community, and this created issues of trust.
One of the investors said:
"I'm active in the community, I'm excited and I invested a lot, but leaving the protocol and voting mechanisms to the community was a big mistake"
"I'm very upset that this release has become a horror game where we have to risk losing our tokens in order to save them."
The hack on the South Korean Coinrail exchange is another speculation that has been recorded as the reason for falling prices. Before the hack, EOS was enjoying a good performance, worth $ 14.74.
Tron (TRX) has had a worldly reaction to its launch on the network, as investors continue to wait for further updates. And yet, the company continues to model partnerships with other companies.
Tron is following Bitcoin and other criptomoedas in this deep fall situation, which is again being blamed on the Coinrail hack. Over the weekend, the company tweeted about the breach that affected the lesser-known digital currencies such as Pundi X. In addition, current research by US regulators on crypto-currency pricing manipulation is keeping investors in a tense situation.