- Acclaimed analyst, il Capo of Crypto teases TRON founder over crypto’s falling price.
- TRON’s dip linked to the challenges of Huobi after expelling Chinese users from its platform.
- TRON founder reassures users on Huobi’s stability, attributing the current market condition to FUD
Acclaimed crypto analyst, with the identity ‘il Capo of Crypto’ has made a jest of Justin Sun, TRON founder, over the recent struggles of the cryptocurrency. il Capo tweeted an edited video with Sun describing TRON as a shitcoin. The video was attached to an old tweet where he predicted a drop for TRON.
In the original tweet of November 10, 2022, il Capo attached a screenshot of his chart analysis. He predicted a downward breakout from the descending triangle in the chart. It took less than four days for the prediction to be fulfilled. As a result, TRON dropped to $0.05, its lowest price since July 2021.
TRON price continued sideways, with little signs of recovery as the year ended. Less than one week into the new year, the support appears to have given way again. TRON’s price has embarked on another sharp fall, leading to the latest jab by il Capo. Attached to the edited video in his tweet is the text “I’m shorting your shitcoin @justinsuntron”.
The latest challenges of TRON link with Huobi’s struggles, the crypto exchange where Sun is an adviser. Huobi has struggled since it removed Chinese users from its platform. Huobi plans to lay off another 20% of its staff in a new attempt to cut costs. Reportedly, Huobi wants to maintain a very lean team.
Sun took to Twitter to reassure Huobi users of the stability of the exchange. He attributed the dropping market prices to FUD (Fear, Uncertainty, and Doubt). Sun told users that Huobi’s strategy is to ignore the FUD and keep building. He noted that the exchange is staying true to its mission and promised to provide a trusted and reliable platform for them.
Other priorities for Huobi mentioned by Sun include investing in technology and security and listening to its users.
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