.justinsuntron, also known as “Brother Sun” among believers, has offered a way out for FTX_Official in a move that caused TRX prices to momentarily rocket on FTX. By shauryamalwa.
Tron network’s native TRX token momentarily surged some 4,000%, from 6 cents to $2.5, on embattled crypto exchange FTX even though they exchange hands for 6 cents on other prominent exchanges, such as Binance and OKX.Tron-based assets such as BTT, SUN and JST rocketed higher as well, trading for several multiples on FTX in contrast to other bourses.The high prices are a sign of hope – a hope that Tron-based assets will be redeemed on a 1:1 basis by Tron founder Justin Sun.
The sentiment was quick to improve. The trading of TRX, and related assets, was restarted on FTX in Asian hours on Thursday, moving prices to over $2.5. Prices corrected to 32 cents as of writing time – hours after Sun’s tweet – and still trade at a 400% premium compared to other exchanges.
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