Tron [TRX], which was among the market’s top-10 coins, slipped from its position weeks ago. However, it managed to pump and regain its tenth position two days ago. Alas, the token could not hold on to that place for long as Stellar Lumens [XLM] and Cardano [ADA] overtook it. It has since been speculated that there were attempts to pump the coin.

Whale Alert, which tracks large cryptocurrencies transactions, alerted the community about four such TRX transactions among Bittrex and Upbit exchanges. The four transactions amounted to 340 million TRX being transferred from Bittrex to Upbit.

The wallet address identified for Bittrex was TAahLbGTZk6YuCycii72datPQEtyC5x231, and Upbit’s wallet address was identified to be TDU1uJNxDND9zhzYjnn7ZunHj18jw7oAca. The hash for each individual transfers was,

The TRX balance available in Upbit’s wallet was approximately 463 million, while Bittrex held a balance of 3.80 billion.

The crypt community responded to these alerts and one Twitter user, @cambrooks, said,

Price manipulation pic.twitter.com/swZt4JPUvX

— Cameron Brooks (@cambrooks) June 3, 2019

Other Twitter users too speculated this to be a dump. Tron was not the only token that was speculated to be manipulated in the market. Bitcoin [BTC] too has been seeing numerous large transactions through exchanges and a flood of unknown wallets participating in them.

At press time, Tron had overtaken Cardano [ADA] to settle at the eleventh position on CoinMarketCap list. It was valued at $0.0364 with a market cap of $2.42 billion. The 24-hour trading volume of the token was reported to be $1.26 billion as it fell by 8.77% over the day. Even though Tron registered 12.36% growth over the past week, it continued to fall by 1.33% within the hour.

The post Tron [TRX]: Altcoin’s fall follows massive TRX movement between exchanges appeared first on AMBCrypto.

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