Justin Sun Announces New Tron Acquisition, Genuine Or Pump Tactic?

John Kiguru by John Kiguru - 12:13 PM Nov 19, 2019
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Justin Sun Announces New Tron Acquisition, Genuine Or Pump Tactic?


Justin Sun has done it once again. The Tron founder and CEO has again for a thousand time made a pre-announcement. This has been an adopted tactic by Sun that has often led to price pumps. By making and spreading the news that a new announcement will soon be revealed, he allows investors to speculate. This means that Tron prices are pumped as speculators anticipate big developments. The downside to this is that if the announcement does not live up to the hype, a correction is guaranteed. However, by that time, most speculators have made profits and Tron enjoyed mass coverage.

Today, 19th Nov, Sun announced on his Twitter account that a new deal had been inked. The project has been acquiring new projects like Bittorent that will help it propel its development. The CEO noted:
New acquisition in #TRON ecosystem is done. Stay tuned! #TRX $TRX

On this, crypto watchers will have to wait for the project to make the official announcements for the details to be revealed. And for holders of Tron, the hope is that this will be an acquisition that helps the project by propelling Tron's adoption in the months to come.

 

Justin Sun's Announcement Comes In A Day When Tron Is Bleeding


The announcement from Justin Sun comes in a day that Tron prices are bleeding. After starting the week weak, Tron has taken a dive. At the time of writing this, Tron has taken a more than 8% hit in the last 24 hours. Tron is however not alone in this as the entire market has wiped out billions of dollars in the last 24 hours. Bitcoin, for instance, has recorded a dip of more than 4% at the time of writing this.

The reason for the dramatic drop remains unknown but many speculate that the Google announcement yesterday might have something to do with it. In Tron's instance, the drop comes with altcoins taking a much harder beating with the drop. Many of the altcoins have lost 5% to 10%. This only means that it is unlikely that we see the altseason before the end of the year with a majority of coins continuing to set new lower lows.

Justin Sun's announcement could cushion the fall for Tron with prices already seeming to steady since the announcement.

About The Author
John Kiguru

John KiguruJohn is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.

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