Tron CEO, Justin Sun, recently teased the Tron community with a tweet where he said Tron (TRX) could moon to $409K. This tweet should not be taken lightly keeping in mind that his blockchain network, Tron, recently surpassed EOS in terms of total Dapps, for the very first time.
Even so, as a CEO who is oft-times laden with controversy, it is difficult not to think that this could just be one of Justin Sun’s antics.
Tron (TRX) Can Hit $409K
In a Twitter post on January 9, the CEO of both Tron and BitTorrent, Justin Sun claimed that TRX could surge to $409K. Sun, however, did not reveal any particular timeline and ended the tweet with an emoji.
$TRX price target is 409k
— Justin Sun (@justinsuntron) January 9, 2020
The crypto community on Twitter was not having it. Prominent analyst Josh Rager dismissed this prediction by saying TRX “is worth $0”. Another Twitter user opined:
“TRX is pre-mined which means it has a speculative price but no value. Having no value means that when knowledge catches up with speculation the price will represent its value which is $0.”
This begs the question: what is behind Sun’s $409K prediction?
On Wednesday, the US stock market skyrocketed to new highs after US President Donald Trump successfully defused potential military war with Iran. A day later, Trump thrilled the crypto Twitter community with a tweet that has since been deleted. In his tweet, he asked his followers how their 409K’s were doing as the stock market climbed higher. The issue was that the tax-advantaged retirement savings plan Trump was referring to is known as 401(k).
Trump had tweeted:
“STOCK MARKET AT ALL-TIME HIGH! HOW ARE YOUR 409K’S DOING? 70%, 80%,90% up? Only 50% up! What are you doing wrong?”
Crypto Twitter blew up with the CEO of Crypto.com Kris Marszalek quipping that 409K is BTC’s new target. This is presumably how Justin Sun came up with the lofty prediction for TRX.
Tron Network Surpasses EOS For Dapps
Tron recently became the second-largest blockchain for Dapps. According to a recent report by Dapp Review, the Tron network now has 637 active Dapps, officially overtaking the EOS network for the No.2 spot for the first time in history. The EOS network is home to 633 active Dapps. Tron Dapps, however, pale in comparison compared to the 2,146 Dapps on Ethereum blockchain.
As expected, Justin Sun took to Twitter to announce this major feat.
According to @dapp_review, the total number of #TRON #Dapps reached 669 on Jan 07, 2020. It has surpassed the number of #EOS Dapps(668) for the first time. #TRON ecosystem is growing at a steady pace, we welcome more users and developers to join us. #TRX $TRX pic.twitter.com/rwOiXbOZSd
— Justin Sun (@justinsuntron) January 8, 2020
Is Justin Just Bluffing?
Justin Sun put a dent on his reputation last year after hyping the Warren Buffett lunch which did not happen. Additionally, in mid-August last year he promised to take both Tron (TRX) and BitTorrent (BTT) back to the top 10 and top 30 crypto rankings respectively.
This is yet to be seen. Meanwhile, TRX dropped from the top 10 and is now twelfth-ranked. BTT, on the other hand, is holding the 65th position. Moreover, TRX has declined by 93.9 percent from its all-time high.
Evidently, it hasn’t been smooth sailing for the TRX price, and it makes sense that some crypto observers would choose to believe that this is just another one of Sun’s ruse.
The post To The Moon? Tron’s Justin Sun Claims TRX Could Soar To $409K appeared first on ZyCrypto.
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