TRON (TRX) Is Still En Route To Success Regardless Of Market Status
Although TRON’s MainNet Launch was a huge success, for many it did not bring the desired results. Most HODLers in the TRON Community expected that the TRX tokens be mooning at the moment, instead, it seems to decline daily. As a result, there have been a lot of mixed feelings about the TRON (TRX).
Current Price and Market Performance of TRON (TRX)
TRON (TRX) since its MainNet launch has not been able to bring the results many desire to the market. The issue does not stem with TRX but the entire crypto market, over the last week, the crypto market has had a terrible run with over 98% of the entire crypto market trading in the red at a point.
The last week’s hack on the South Korean exchange platform Coinrail further worsened the state of the market as asset holders resulted in the selloff, at the detriment of the digital assets. As at the time of this writing, over 60% of the crypto market is still trading in the red.
The seemingly frustrating crypto market has ensured that value of TRON (TRX) dinks further with every passing day. TRON is valued at $0.046, recording a decline of 2.58% over the last 24 hours. TRON’s market cap is now pegged at $3.03 billion USD makes it the 10th largest cryptocurrency.
TRX is down by over 40% in the last 30 days, and consequently, TRON has lost almost $2 billion USD in market cap in the same period. TRON’s poor run in the market has not hindered TRON Foundation from making strategic and decisive progress which would ensure the future of the project.
Justin Sun Completes BitTorrent Purchase
In May, TorrentFreak reported that Justin Sun, Founder of TRON was in the process of acquiring BitTorrent (renamed Rainberry Inc. in 2017), developers of Torrent. When the news made headlines, there were a lot of controversies and misleading information surrounding the purchase.
Justin Sun sued BitTorrent early into 2018 for reportedly violating a No shop clause and requested a restraining order for BitTorrent to cease communication with other potential buyers. Last week we reported that Justin Sun had registered a holding company under the alias “Rainberry Acquisition”.
Sun had dropped the lawsuit against BitTorrent, and now it has been confirmed that the pioneers of file sharing, BitTorrent has been sold to the founder of TRON. In the near future, this purchase will serve a big deal in building TRON’s decentralized internet.
TRON is Just About Right with its Partnerships
Last week, TRON Foundation has announced a groundbreaking partnership with Shift Markets, a brokerage startup and builder platform to bring TRX tokens to different currency markets. With the confirmation of the Shift Markets partnership, TRX can be traded across nine different countries by brokers.
Update on TRON (TRX) Token Migration
TRON has successfully launched its MainNet, what follows now is the current migration of TRON’s current ERC20 tokens to the MainNet tokens. Which will run until June 21, 2018, as at the time of this writing, the following exchange platforms have listed their support for the token Migration.
Bibox, Binance, Bitfinex, Bitforex, BITKOP, Bithumb, Bitpie Wallet, BitPro, Bittrex, Bixin, Bit-Z, Coinegg, Coinnest, Coinrail, Cointiger, DragonEX, Gate.io, Huobi.pro, LBANK.io, Liqui, OEX.com, OKEx, OTCBTC, RightBTC, Upbit, WazirX, and Zebpay.
For all TRON HODLers and traders are advised to move their tokens to the above exchange platforms as all transactions with TRON’s ERC20 tokens will be frozen from June 22 – June 23, and all ERC20 tokens will be invalid from June 24.