As the market was on a sad note till yesterday, it looks a lot brighter with the coins picking up pace and the highlight of course is Tron [TRX], the only double-digit gainer as seen at the time of writing. Standing strong in the 10th position, Tron has profited by more than 10% while the other top coins are struggling to stand up with minimal gains, the closest being Stellar Lumens [XLM] with 8% increase. The current trading value of TRX is worth $0.074 with a market cap of $4.9 billion and looks like the coin is set to shoot up further.
All the eyes are on Tron since the successful launch of their test net and the announcement of main net followed by a series of new projects and events like the SR elections, project Genesis, token migration, VM launch, and many other things. They have also witnessed numerous exchanges listing TRX on their platform prior to the main net launch as Tron [TRX] will then flaunt its own token and eliminate the use of ERC-20 tokens. What is not to be rejoiced here for the entire community?
As a heads up to their launch, strengthening their migration and upgrade are various exchanges offering support throughout the entire process. Around 8 well-known exchanges have announced that they will stand by and take care of a hassle-free token migration as all trading activities will be frozen during the transformation. The exchanges have ensured restoration once the instalment is done also promising automatic migration of the existing user’s assets. Once this is done, their platform will be scalable, will have higher throughput, higher abilities and developer friendly allowing easy creation of dAPPs.
The first of the exchanges to announce their support was Bit-Z in the mid of April. The exchange is worth a total market cap of $254 million and more with Tron TRX trading at the second spot accounting to 15.62% of their trade volume. This was followed by an announcement by Bittrex on the 27th of April which is based in the USA and has TRX as the 3rd most traded on their platform. Next up was a bigger platform with a cap of $702.2 million, Bitfinex that stepped up in the support list despite Tron not being on the top of their trading activities. Bibox might be a less popular amongst the crypto geeks but every kind of support weighs a lot for such a mega event. They declared their help earlier this month.
Though these were welcomed with lot of excitement and appreciation, what the community most anxiously waited was for the monster of the trading world to voice out their support statement. Well, Of Course it is Binance, the leading exchange platform which finally came forward on May 8th to befriend their migration launch. This took up the game to a whole new level for the entire community as this giant is worth a capitalization of $1.39 billion and Tron at the 4th place on their exchange. Coinrail and Coinnest were the latest ones to participate in this apart from Zebpay. Zebpay listed TRX very recently on their trading platform following which they announced the support for the launch on May 31st last week.
The team is expecting a lot more of such announcements and further support to bolster their journey towards their goal accomplishment.
Almerik, a Twitterati commented:
“If you own any TRON TRX congrats. You’re 1 of only 487k token holders. With a mainnet that that is said to support hundreds of million people, you got in first – regardless when you bought this last year, you’re still first.”