Justin Sun, CEO of TRON and king of announcements, is singlehandedly trying to kick off the next altcoin season. Sun tweeted information on an upcoming giveaway for a ‘global appreciation campaign,’ in which he claims to be airdropping $20 million (or more) in cash and giving away a free Tesla automobile.
In his tweet, Sun credits the giveaway is in response to the success of the BitTorrent Token (BTT) and the recent Tron (TRX)/Tether (USDT) partnership.
According to the tweet, users have to follow Sun on Twitter and retweet the giveaway announcement anytime before March 27, 18:00 GMT, for a chance to be eligible.
To celebrate #BTT & #USDT–#TRON success, I am planning a $20m free cash airdrop. Good news-it's coming, bad news-I may decide to give away more! First, I will randomly pick 1 winner for a #Tesla up until 3/27! To apply, follow me and RT this tweet! Simple! #Blockchain pic.twitter.com/wFyzwtB3ur
— Justin Sun🌞 (@justinsuntron) March 12, 2019
Subjective Success
It is true that the addition of the BitTorrent Token (BTT) and a high-volume stablecoin like Tether (USDT) should help to spread awareness and adoption of the TRON platform. BTT is trading on almost 30 unique exchanges after hitting the market at the beginning of February of this year through the Binance Launchpad. The token is largely speculative at this phase of its progression but is meant to be used as a native utility token on the already existing peer-to-peer BitTorrent network. The inclusion of a stablecoin on the TRON network should help users more fluidly move their funds between TRX, BTT, and other major cryptocurrencies. Tether (USDT) is the highest-volume and longest standing stablecoin in the cryptocurrency market. The value of USDT is pegged to the USD and is most often used on exchanges to move funds between different currencies without losing much value due to the high market volatility. It would seem a bit premature at this stage for Justin Sun to proclaim the integration of BTT and USDT to be a full-blown success. It is more likely that this giveaway is being used as advertisement and publicity for TRON and its recent updates.
Beware Of Copycats
While there are no current reports of any copycat announcements at the time of writing, one should always remain vigilant of scams in the crypto space. Twitter has been known to be rife with imposter accounts mimicking popular cryptocurrency personalities. You should under no circumstance ever send anyone your digital coins or private keys to any unknown users who promise to send back double or triple the amount. Do you think BitTorrent Token (BTT) and Tether (USDT) will be successful additions to the TRON platform? Will any copycat scam tweets emerge before the giveaway ends? Let us know your thoughts in the comments below!
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Kyle Baird
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
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