• Justin Solar has denied rumors that he’s concerned within the ongoing SUN token sale.
• SUN fell 35% this week after an enormous surge final week.
• Solar's assertion despatched its shares up greater than 16% previously few hours.

Tron founder Justin Solar has denied rumors of his involvement within the ongoing SUN token sale. He made a strongly worded denial on Twitter, demanding that these spreading the rumors promote their SUN tokens to him.

Solar's preliminary publish was strongly worded, seemingly concentrating on the English-speaking X group. He then despatched a calmer message in Chinese language to make clear that neither he nor SUN DAO are promoting SUN tokens. He mentioned the circulated tackle shouldn’t be related to the official mission.

SUN has fallen 35% this week after recording its largest one-week rally ever. The Tron-based DeFi token surged round 350% within the week previous to the latest drop. The altcoin has fallen from $0.04479 to $0.02879 this week, in keeping with TradingView knowledge.

In the meantime, SUN seems to have regained upward momentum following the Solar sale denial. The DeFi token, which opened at this time's buying and selling session at $0.030259, has surged greater than 16% to $0.035179 on the time of writing, in keeping with TradingView knowledge. Thus, the Solar sale denial seems to counter the impression of the alleged FUD marketing campaign by these spreading the SUN sale rumor.

It’s price noting that SUN was launched over 4 years in the past and initially deliberate to imitate Bitcoin as a retailer of worth. Nonetheless, after the crypto market crash in 2021, the token shifted focus and repurposed itself as a DeFi token on the Tron community. Based on knowledge from CoinmarketCap, SUN has a market capitalization of over $364 million, with over 9.95 billion of its greater than 19.9 billion tokens in circulation.