{"id":88652,"date":"2024-08-05T05:21:41","date_gmt":"2024-08-05T09:21:41","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=88652"},"modified":"2024-08-05T05:21:46","modified_gmt":"2024-08-05T09:21:46","slug":"justin-sun-debunks-leverage-trading-liquidation","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/justin-sun-debunks-leverage-trading-liquidation\/","title":{"rendered":"Tron Founder Justin Sun Debunks Leverage Trading Liquidation Rumors"},"content":{"rendered":"\n

Tron founder Justin Sun<\/a> stated that he and his team primarily engage in leverage trading positions and focus on blockchain development.<\/p>\n\n\n\n

\"Tron<\/figure>\n\n\n\n

The significant shockwaves emanating from the 18% drop in the broader crypto market over the past 24 hours have resulted in major liquidations in leveraged positions.<\/p>\n\n\n\n

Several rumors began circulating that Tron founder Justin Sun got\u00a0rekt with over $152 million in liquidations of the leveraged positions, with the Ethereum price plummeting by over 20%.<\/p>\n\n\n\n

However, the Tron founder refuted these developments, clearing any uncertainty on the liquidation process.<\/p>\n\n\n\n

Justin Sun Clears Air on Liquidations<\/h2>\n\n\n\n

The crypto market's recent sell-off during the Asian trading hours on Monday has resulted in over $1 billion in total crypto market liquidations.<\/p>\n\n\n\n

Most traders who held leveraged long positions got Rekt, with rumors implying that Justin Sun was among them.<\/p>\n\n\n\n

\n

Justin Sun potentially getting liquidated could be the reason for that nasty -20% wick on $ETH\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> https:\/\/t.co\/amPsbnmrbu<\/use><\/svg><\/span><\/a><\/p>— Johnny (@CryptoGodJohn) August 5, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

However, the Tron founder has denied the allegations, asserting that he and his team seldom implement leverage trading strategies.<\/p>\n\n\n\n

Justin Sun maintains that leverage trades constitute no advantage to the crypto\u00a0market<\/a>.<\/p>\n\n\n\n

Instead, the Tron founder stated that he and his team will focus on activities that benefit the crypto sector and entrepreneurs.<\/p>\n\n\n\n

He also stated that the Tron team continues to focus on activities such as staking, running nodes, assisting project teams in providing liquidity or\u00a0working on blockchain projects.<\/p>\n\n\n\n

\n

The rumors about our positions being liquidated are false. We rarely engage in leveraged trading strategies because we believe such trades do not significantly benefit the industry. Instead, we prefer to engage in activities that provide greater support to the industry and\u2026<\/p>— H.E. Justin Sun \ud83d\udc68\u200d\ud83d\ude80 \ud83c\udf1e (@justinsuntron) August 5, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Liquidations: On the Rise<\/h2>\n\n\n\n

The crypto market is experiencing significant volatility\u00a0as the\u00a0Bitcoin price<\/use><\/svg><\/span><\/a>\u00a0fell to $50,000.<\/p>\n\n\n\n

However, it has recouped to $52,800 levels at press time.<\/p>\n\n\n\n

The daily trading volumes have increased by 161% to an astonishing $71.8 billion.<\/p>\n\n\n\n

Bitcoin critic Peter Schiff\u00a0believes\u00a0the situation might worsen once the US market trading starts Monday.<\/p>\n\n\n\n

Currently, the US futures are experiencing a significant decline.<\/p>\n\n\n\n

Schiff anticipates that the Bitcoin ETF market will undergo a significant liquidation, with a 30% decline anticipated.<\/p>\n\n\n\n

\n

As I warned #Bitcoin<\/use><\/svg><\/span><\/a> has taken out the March low. It's now trading $51K. That's a 20% decline from where it was trading when the #BitcoinETFs<\/use><\/svg><\/span><\/a> closed on Friday. So this is a #Crypto<\/use><\/svg><\/span><\/a> Black Monday. Look out below! https:\/\/t.co\/CK1rHutgly<\/use><\/svg><\/span><\/a><\/p>— Peter Schiff (@PeterSchiff) August 5, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

There is talk of a hard landing in the US economy amid fears of a recession and hard landing.<\/p>\n\n\n\n

However, there are reports that the Fed\u00a0may intervene before September to announce a 50 basis point rate cut.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tron founder Justin Sun stated that he and his team primarily engage in leverage trading positions and focus on blockchain development. The significant shockwaves emanating from the 18% drop in the broader crypto market over the past 24 hours have resulted in major liquidations in leveraged positions. Several rumors began circulating that Tron founder Justin Sun […]<\/p>\n","protected":false},"author":56,"featured_media":88655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-88652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/Tron-Founder-Justin-Sun-Debunks-Leverage-Trading-Liquidation-Rumors.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=88652"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/88655"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=88652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=88652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=88652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}