TRX, HT could struggle if Justin Sun’s rumored sale goes through, here’s why

ambcrypto.com:

As per a new Bloomberg report, Tron [TRX] founder Justin Sun could be on the verge of selling his stake at Huobi Global, the Singapore-headquartered exchange. Sun, who only joined the Huobi team last year to help restore the global image of the platform, faced troubles ever since.

Realistic or not, here’s HT’s market cap in TRX’s terms

At one point, the exchange had to lay off staff. And several times, Huobi Token [HT] faced high sell pressure as the exchange outflow reached considerable highs.

However, Bloomberg noted that the deal was still in its early stages as Sun had only reached out to a potential investor over the last few weeks. Sun remains one of the largest shareholders in the company. But the crypto coverage section of the news platform noted that the valuation remained unclear.

Interestingly, the development has had little to no effect on the TRX and HT prices. According to CoinMarketCap, HT grew 0.15% while TRX’s value increased by 0.21% one hour after the public revelation. If, however, the deal goes through, both tokens may be glaringly affected. 

On gauging the social volume , Santiment showed that TRX spiked in this regard. Social volume is built on top activities from crypto-related channels, measuring merging trends, and evaluating crowd behavior. 

With the metric rise to 25, it implied that TRX formed a significant part of the discussion around market-based forums. However, HT was on the antagonistic part, signaling deprived attention toward the token.

Source: Santiment

But in a case where the speculation becomes accurate, HT could experience a sharp increase in social volume. And a possible drive might not be in holders’ favor, as negative sentiment could thrive as a result of the potential