Joanna Zeng, co-founder and CEO of cryptocurrency project SOON, made statements regarding the SOON price fluctuations in recent days.
Zeng stated that according to initial findings, the sudden price movements could be an organized market manipulation attempt targeting not only SOON but also many crypto assets. He argued that this manipulation was aimed at creating panic among investors and profiting from it.
Chart showing the rise in SOON price.
Joanna Zeng said the following against this attack:
“The SOON team did not sell any SOON tokens and did not gain any profit from this price fluctuation. This is not the end of SOON. We will continue to develop as always.”
Zeng claimed that the project has made significant strides to date and shared the following developments:
- InterSOON, which reached a transaction volume of 200 million dollars,
- SOON Stack, which is active on more than three mainnets,
- Simpforfun platform with a volume of $60 million.
Zeng also claimed that SOON Labs has made more contributions than larger budget projects in the industry, and said that they will not abandon the project for the sake of short-term gains and will not back down against manipulations.
*This is not investment advice.
