Kiss of Death? Weiss Ratings Agency Changes Tune on TRON
The much-maligned (and rightly so) Weiss Ratings agency has given TRON the thumbs up for 2019. While Weiss Ratings opinions are always to be taken with a grain of, ahem… SEC settlement salt… their change of tune on TRON is certainly noteworthy.
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Weiss Has a History of Dissin’ TRON and Justin Sun
In a tweet from January 25th, Weiss Ratings concedes TRON’s popularity, and also sees bullish technical signals for the controversial crypto project:
We might give #TRON a hard time every now and then, but give credit where credit is due: The #TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied. #BTC #altcoins #bitcoin #crypto #cryptocurrency
— Weiss Ratings (@WeissRatings) January 25, 2019
This is newsworthy insofar as Weiss has rarely been kind to TRON. Only last week, on January 21st, the company lambasted the project for its cynical hiring of a former SEC official. The hire was seen as a gesture to prove its “non-scam” credentials:
#Tron hired a former SEC official to prove that #crypto is not a scam. They suffered from the news that they had plagiarized code from #Ethereum and other projects changing the file names to hide source code. Tron’s way to solve issues is to throw money at it. #TRX #BTC #Bitcoin
— Weiss Ratings (@WeissRatings) January 21, 2019
TRON Has Form, Weiss Ratings Agency Does Too
TRON is a polarizing cryptocurrency project. Its not-so-enigmatic leader Justin Sun raised eyebrows and drew sighs with his personal acquisition of BitTorrent through a San Francisco-based company he owns. And of course, whitepaper plagiarism accusations have dogged the founder since the beginning. Laughably, Sun blamed it on poor translations.
Weiss, itself, has suffered its share of bad press. The SEC initiated cease-and-desist proceedings against Weiss Research Inc., owner Martin Weiss, and copywriter Lawrence Edelson for violations of securities regulations in 2006. The case was resolved by settlement, which almost all SEC enforcement actions are.
Conflation of BTT Airdrop Bullishness With Good Technical Indicators
TRON will airdrop BitTorrent (BTT) tokens to TRON holders on the 11th of each month from February 2019 to February 2025. Per Coinbillboard, TRON’s trajectory has been up substantially since early December. It is highly possible that TRX is pumping because of the forthcoming BTT airdrop, and Weiss has failed to take that into consideration.
However, the TRON network now boasts over 150 dApps and 200 smart contracts, at least according to its founder:
#TRON has over 150 #Dapps and more than 300 smart contracts. According to tron.dapp, there are 7 decentralized exchanges(DEX), 6 collection games and 30 tool Dapps. The Dapp ecosystem is relatively well-rounded, forming an organic growth trend. #TRX $TRX https://t.co/whPKtjUMsF
— Justin Sun (@justinsuntron) January 25, 2019
Nevertheless, the newly positive attitude toward the Sun Empire is an about-face from a checkered history of antagonism between the two parties, as perfectly illustrated by a tweeted Weiss response to Sun’s offer to accommodate Ethereum and EOS platform developers:
Justin Sun #TRX announced a new fund for #ETH and #EOS devs to migrate #dApps to the #Tron protocol. Memo to Justin: ETH and EOS both have larger and more prolific developer communities than Tron, we see little to no reason for them to migrate.
— Weiss Ratings (@WeissRatings) December 13, 2018
Have your say. Is TRON deserving of Weiss praise? Is Weiss praise deserving of any attention?
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