Tron (TRX) Plagued By Airdrop Scams and A Price Decline Ahead of MainNet Launch
With less than 36 hours to the Tron (TRX) MainNet launch, the project and token has been subject to a bit of unwanted FUD in the form of Airdrop scams and a very notable price decline leading up to Thursday, the 31st of May. The current countdown on the Tron Website reads 1 Day, 13 Hours and 20 Minutes at the moment of writing this.
With respect to Airdrop scams, unscrupulous individuals took Justin Sun and the Tron Foundation’s good gesture of TRX ‘gifts’ last week, to come up with all manners of fake Airdrops. The original Airdrop – which is now over – was highlighted by Ethereum World News on the 23rd of this month. The Airdrop gave 2 TRX to users who registered for the event and an additional 4 TRX for each referral to friends or family.
The Tron Telegram group has since announced through its administrators, that the Airdrop has ended. Any other Airdrop purporting to be from the Tron Foundation, should be considered as fake. The Tron team on Telegram had this to say:
The TRX Mainnet Launch Candy airdrop event has been finished. The release time for the TRX candies will be announced in the official groups. Please bear with us and stay tuned!
With respect to the value of TRX in the crypto markets, the token took a major hit yesterday when it dropped by 9% in less than 2 hours. TRX was not the only cryptocurrency to depreciate in value since Sunday. All the major coins of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) et al, have been affected by the current decline in value experienced in the crypto markets. The total market capitalization that sat comfortably at $400 Billion only last week, is now valued at $308 Billion: a drop of 23% in a one week peried.
Current market analysis indicate that TRX is valued at $0.0608 and down 7.06% in 24 hours. BTC is trading at $7,153 and ETH is also having a difficult time at current levels of $524.
However, all is not lost for our beloved TRX. The list of activities in the month of June is sure to resuscitate the token, and later coin, in terms of its value in the crypto-markets.
Disclaimer: This article is not meant to give financial advice. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.