A new wave of speculation on mismanagement has just been spurred in the cryptocurrency space, following a recent interview between Peter McCormack and the notable Founder and CEO of Tron, Justin Sun.
Per the already-trending video clip (with +128k views at the time of writing) of the exclusive interview shared by McCormack on Feb 9, Sun, who was perhaps drunk, admitted that TRX, the native token of the supposed Ethereum killer, TRON Network, is a shitcoin.
My exclusive interview with @justinsuntron is now available.
Hot tip for a Pulitzer. pic.twitter.com/TZaedkezOX
— Peter McCormack (@PeterMcCormack) February 9, 2020
What’s a Shitcoin?
Shitcoin is generally a derogatory term used in the crypto space for any alternative coin (altcoin) that is deemed to be worthless or of less value. However, these days, many crypto enthusiasts have grown fond of the word, using it to refer to the coin or token of a project they dislike.
With the founder of the Tron admitting that the token of his project is a shit coin, does it mean the TRX is actually a useless or worthless cryptocurrency?
The question is among the ranking words asked by many who came across the video, given that, Justin Sun always preaches on TRX potential and the mass adoption of the Tron blockchain.
Justin is not just the founder of any blockchain project; he is the founder of one of the biggest dapp blockchain projects in the crypto space. The TRX is even ranked as the 13th largest cryptocurrency in the world with a market cap of $1,463,960,927.
Just last month, Coinfomania reported that the Tron blockchain was the second most preferred choice for decentralized applications last year. According to the report Tron outperformed EOS in the dapp market of 2019 in terms of users and transaction volume.
Since its launch in 2017, the project has garnered a large number of investors and loyal supporters. Turning back to describe TRX coin as “shitcoin,” to many, is a sign of misconduct from the founder of the project, Justin Sun.
In a recent tweet, McCormack recited Sun, saying:
– Tron is a stupid shitcoin
– Justin isn’t coming on the show
– I haven’t been paid anything by Justin
– Justin hasn’t lent me a private jetJustin admitted on camera that Tron is a shitcoin. Goal achieved. If anyone sees this & buys Tron then lol.
Next? https://t.co/XfIN5sTs2z
— Peter McCormack (@PeterMcCormack) February 9, 2020
While the reason behind Sun’s recent statement is yet to be determined, many people think that Sun’s words in the video are jokes, or he could be drunk. Some people, like @Toxicfacez, think it was disrespectful for McCormack to make such a clip.
Very brilliant and a good mark of respect. I really dont care of TRX but at least one of them look stupid and its not Justin?Someone is probably drunk and jokin and the other take advantage of that. Respect is not for everybody. This what i see. ?
— The crypto avenger (@Toxicfacez) February 9, 2020
TRON (TRX) Overview: Slight Bearish
Indeed, bad publicity has a way of affecting a coin’s price in the crypto market. At the time of writing, TRON (TRX) is on the red side of the market, when all other major coins are recording significant gains. The cryptocurrency is trading at $0.021954, representing a -0.70 percent on the daily chart.
