The marketing gimmicks of Justin Sun – the CEO and founder of Tron (TRX) – have proven to be very effective over the past months. TheBlock unraveled some fascinating findings in a well-researched paper on marketing gimmicks carried out by Justin Sun.
In the well-researched essay, the author pointed out some vital research bombs on how the tweets of Sun have had a positive influence on the price movement of Tron (TRX). The author dropped those research bombs after introducing Tron’s founder and his reputation of a professional announcer of announcements.
The Impact of Justin Sun’s Pre-Announcements
Examples of his pre-announcements that has greatly impacted the value of Tron (TRX) include a tweet that states:” We will announce our partnership with a very prestigious public listed firm next week. Looking forward to it.”
Sun tweeted this earlier this year, and it significantly influenced the value of Tron (TRX) and increased it by almost 130 percent. This enormous increase was in seen in a day: from the closing price of the digital currency a day before the pre-announcement and its highest value on the day of the pre-announcement.
The author said based on the small sample size they collected, it’s pretty difficult to come to a strong conclusion on the median and average price movements based on the creative marketing of Justin Sun. Nevertheless, they ran the numbers out of interest.
Based on the data they were able to put together, the pre-announcement of Sun on average causes the value of Tron (TRX) to increase by about 23 percent and the median price movement of the digital currency surged by about 6 percent.
Based on the results, it appears that a pre-announcement has a tremendous effect on the value of Tron (TRX), if the digital currency is being measured before its closing price against its highest value on the day of the pre-announcement. Nevertheless, what’s more interesting is TRX’s price slump at market close on the day of the pre-announcement.
By comparing the day’s closing value of a digital currency before a pre-announcement and the closing price of digital currency on the day of the pre-announcement, it was discovered that the yielded a median return of -11% and an average return of -10%.
This means that if an investor invests one USD in Tron (TRX) when it’s at its highest value on the day of pre-announcement and sells the digital currency at its closing price, they would get an average return of 90 cents and a median return of 89 cents.
Tron’s Founder Still Digging at Ethereum
After the news about ConsenSys planning to lay off about fifty to sixty percent of its employees, Justin Sun asked the staff of the firm to send in their resumes. This was revealed in a report by AMBCrypto. In his tweet, he said: “Everyone in ConsenSys and Ethereum please send your resume to [email protected] and embrace your new opportunity. You are most welcome to join our well-funded and fast-growing Tron family.”
TRON (TRX) Price Today – TRX / USD
Tron (TRX) is currently trading at $0.0192 after a decrease of about 15 percent over the past twenty-four hours. The current market cap of the digital currency is $1.26 billion and its trading volume over the past twenty-four hours is $154.6 million.