Justin Sun is the Reason Behind Binance to Delist Tron?

• Binance delisting TXR from its trading list.
• TRON price decreased around 5% in a day.

While the rumor about the founder of Tron, Justin Sun, circulated over social media, Binance US, the world’s largest cryptocurrency exchange, announced that the platform will delist the TRX token starting on April 18, which is connected to Justin Sun’s Tron crypto platform. That resulted in a decline in the value of the crypto token. Tron’s TRX sank as much as 13% from $0.06651 to $0.06262 and was about 5% lower.

On Wednesday, Binance US tweeted that TRX and another coin, Spell, would be taken off the exchange’s list to ensure that the available tokens “meet the standard of excellence we expect.” Also, TRX stakes will no longer be available on Binance US.  

This comes just a few weeks after Justin Sun was sued by the U.S. Securities and Exchange Commission (SEC) for allegedly selling and airdropping unregistered securities, engaging in fraud, and manipulating the TRX token market.

TRON Current Status

However, Justin Sun breaks his silence and states, “It’s FUD,” referring to the rumor spreading among the crypto market that he had been arrested. After that, TRON’s 24-hour trading volume surged by 82% to $412 million.  

At the time of writing, TRX traded at $0.06388 with a market cap of $5.8 billion, as per CoinMarketCap. Further, the Toncoin TON price decreased about 2.3% in the last 24 hours and 6% in a week. And its market cap is $3.1 billion, down by 2%.