Unlike the click-baity title, Tron [TRX] didn’t drop because of Taihao Fu who joined Tron’s technical staff from IBM. The entire market has been bearish since the past week until today when the markets flash dropped with ETH especially getting dumped and experiencing a drop of more than 5% in under an hour.
Many from the social media community has accused EOS of dumping ETH while many say it was just a big whale cashing out. TRON [TRX] at press time was at $0.064 to a token with a market cap of $4.2 billion witnessing a massive 10% drop in the past 24 hours and a 20% drop in the past week. This current drop in prices is the highest among the Top 20 cryptos.
According to their recent blog on Medium, TRON expects a global team of 400 by the end of this year which would statistically surpass Ethereum’s team and by 2019 they expect to be a strong team of 1000 people.
Taihao Fu has extensive experience working with IBM as a software engineer and experience in big data development. In a recent article in Medium, he says,
“I believe TRON will do a good job. And I also hope to promote the development of the blockchain industry with the power of TRON.”
A recent interview with many TRON holders and investors revealed a bullish sentiment especially with the Main Net expected to launch in the next three days. The current drop in prices as many analysts say was just a temporary reflection of ETH being dumped and that it wouldn’t affect the market in the long run.
Deepak Sharma, a TRX investor says,
“Justin is 26 and many have called him immature but what he has achieved is substantial. The team is growing, Main Net is here, Utorrent acquired, good news all around. Why won’t we touch the moon?”
Johann Stephenson, a TRX skeptic says,
“Main Net does not change anything for anybody till June 24th. The older ERC20 tokens will be replaced by TRX only around that time. What’s happening now is called hype. Everyone with chicken brains is expecting a pump, well you might get some with the hype but the real value comes in post 23rd of June.”
In my opinion this should not make any reasonable investor to sell off their holdings till the main hype dies off.
The goodnews remains, a very good tech guy being added to the team atleast means more security
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice.
News Source AMBCrypto
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