Justin Sun Shares Motivation for Investors as Market Dumps in Billions

In the face of the recent market downtown that has seen billions of dollars wiped off crypto valuations, Tron founder Justin Sun has taken to X to encourage average investors.

Message to Investors 

In a tweet to his over 3.5 million followers on X, Sun urged investors to ignore the current price fluctuations seen in the market. He stated that instead of worrying about the market performance, investors should focus on building for the future.

Let’s stay focused on innovation and progress—ignore the price fluctuations and continue to build for the future! Remember, the price will ultimately reflect the value we create through our efforts. 💪

— H.E. Justin Sun 孙宇晨 (@justinsuntron) June 24, 2024

Sun emphasized the importance of focusing on innovation and long-term progress and expressed confidence that prices will eventually reflect the value created through collective efforts within the crypto space.

So many agreed with Sun’s statements, with one X user saying:

“the price will ultimately reflect the value we create through our efforts”

Bro in 2017 I used to make fun of Tron, here in 2024 you processed more value than VISA.

One of the biggest player in the space.

— Penquin (@ChapterDeFi) June 24, 2024

Market Cap Down 5%

Sun’s statement comes as the crypto market experiences significant corrections. According to data from CoinMarketcap, the crypto market cap currently stands at $2.24 trillion, representing a 5% decline over the past 24 hours.

Major cryptocurrencies like bitcoin (BTC), and ether (ETH) have seen their value plummet by 5% on the day. But what is the major cause of this recent decline?

According to analysts, the major catalyst behind this performance is economic pressures and the recent consistent outflows seen in spot Bitcoin exchange-traded funds (ETFs). Last week alone, spot Bitcoin ETFs saw over $1 billion in net outflows following a five-day streak of sell-off.

Meanwhile, Justin Sun is unfazed by market performance but continues to increase his position. On-chain data shows that the entrepreneur recently added $49 million ETH to his portfolio, which is already worth more than a billion dollars.