Tron (TRX) Trading Opens On KuCoin After Justin Sun Announces New Listing
Tron (TRX) has begun trading on KuCoin against Bitcoin (BTC) and Ethereum (ETH).
The founder and CEO of TRON Justin Sun announced on August 26 that the TRX token will be listed on KuCoin, a Singapore based cryptocurrency exchange platform.
New listing for TRON (TRX)
The new listing for TRON (TRX) comes from KuCoin, an important listing for TRON as KuCoin is currently one of the most active cryptocurrency exchanges. The original tweet from Justin Sun reads:
“#TRX will be listed on @kucoincom, TRX/BTC, TRX/ETH will be available on August 28 (SGT).”
TRON (TRX) has started trading on the popular exchange today, and the listing has sparked a new hope for a price recovery. KuCoin offers more than 350 crypto pairs with the goal of providing users with seamless digital asset transactions and exchange processes.
After the MainNet launch and token swap of TRON, the TRX token has become easier to move around hence it’s recent listing. TRX was recently added as a payment option to Bitcoin Superstore, one of the biggest online stores.
Similarly, on August 23, Justin Sun announced the integration of the TRX token as a payment option on CoinPayments which is currently available to 2.2 million businesses and users worldwide.
Since the technical difficulties in listing TRON has been removed, the TRX token has been listed on a series of smaller exchanges, many are of the opinion that this also influenced the listing of TRX on KuCoin.
Reaction of TRON (TRX) to the KuCoin announcement
The TRX reacted positively to the news of the listing, rising by about 5.8% within 24 hours of the announcement.
TRON, the 12th largest cryptocurrency, has a market capitalization of $1.7 billion and is currently exchanging hands at $0.0259.
These announcements have proven the technical strength of TRON, as well as the growth of the project.
The daily transaction volume of TRON has been on the rise, recording almost half of Ethereum’s. Over the last 24 hours, a total of $130 million TRX tokens has been traded.
TRON Virtual Machine Launch (TVM)
The news of TRON’s listing on KuCoin comes just days before the launch of the much anticipated Tron Virtual Machine (TVM) as TRON continues to strive to become the biggest blockchain project.
Justin Sun has announced that the Tron Virtual Machine will launch with full compatibility with the Ethereum Virtual Machine.
What this means is that developers leveraging the Ethereum Virtual Machine will also be onboard with the TRON platform at a fee described as ‘almost free’.
According to Sun, the TVM is going to provide the developers with a secure, efficient, stable, scalable, and convenient blockchain system.
In addition, the theory of Bandwidth is going to be applied to the Tron Virtual Machine. There is no fee imposed on the transaction operations or smart contracts
Although the price of the TRX token has not taken phantom leaps yet, these announcements would play a fundamental role in the expected market recovery for TRON.