The price is down because people who have that coin are scared of what will happen. So they sell that coin instantly and get their money back, no matter if they lose or not. The news comes from Justin Sun, known as the founder of Tron, which is the big exchange right now, which states that news, and that makes people more scared.
The crypto world is fragile for now. Everything can happen, especially if there is a bad news release, although we don't know if it is true. Most people know who Justin Sun is, and if he tells people about something for one project, that can give impact the project because people will think that it is not good if they don't make something.
Isn't CZ the founder of binance? I'm pretty sure its not Justin Sun but he collab with Binance to takeover that steemit.
The price of Oikos seem to have fly up though its 0.025USD when they did a private sale and $0.0375 upon doing an IEO with hoo exchange when it touches $0.14 thats when the fud came so obviously many will ride the fud to take profit.
Oh, I made a mistake, I mean the founder of Tron
I edit that. Thank you for correcting me.
There is nothing wrong if he wants to clarify the air and make the public understand there is no connection between Tron network and oikos but going as far as telling people he advice them to invest is way too far,
Ofcourse such warning will trigger some fear on investor's,
look at ethereum blockchain, have you ever heard Vitalik is hold responsible for all the scam projects in eth network?
The project dev team will bare the responsibility and not Justin even if anything goes wrong
There is nothing wrong with that, but people are scared of that, especially for people who have that coin, and they will think that something will happen to that coin, and they need to do something before it's too late.
We don't know why he said that and I think many possibilities can happen to that project, and it's a matter of time to see it later. I think Justing Sun and the developer need to clarify, so there are a clear situation and no confusion between them, and people who hold that token will not worry.