TRON (TRX) Trading Picks Up Ahead of Mainnet Snapshot
Cryptovest
Published May 14, 2018 04:40AM ET
Updated May 14, 2018 05:00AM ET
TRON (TRX) Trading Picks Up Ahead of Mainnet Snapshot
TRON (TRX) will rely on exchanges to take care of balances. There is no registration for the new tokens, as with the EOS project.
Therefore, TRX trading and transfers have increased in the past days, as TRX trading outstripped Ripple (XRP) deals. However, the TRON market price remains depressed, at around $0.07.
!TRON!
The asset has yet to regain the losses of the past week, as it slid by 10% net. TRX inched up slightly by 2% on Asian trading.
h2 The TRON Effect/h2TRON was one of the hottest ICOs in the past months, launching just as China had a crackdown on token sales. At that time, the Binance exchange was just picking up, and TRON was one of the projects that helped the exchange gain prominence.
https://twitter.com/justinsuntron/status/995893245728079875
Now, TRON will rely on Binance and Zebpay to help with the transition to the mainnet. Curiously, TRON thus forces users to store funds on exchanges, a move that has led to losses in the past.
Users must deposit their ERC-20 tokens to an exchange, unless they want to incur losses, the TRON team reminds. The token upgrade will happen between June 21 and June 25, just in time for the Super Delegates election.
It is unknown when the TRON mainnet wallet would be available. Hence, the new assets may exist for a while as balances on centralized exchanges.
The next source of hype for the TRX market price are the Super Delegate elections on June 26. To achieve speed, the TRON network will have a layer of entities to verify the correct version of the blockchain.
https://twitter.com/justinsuntron/status/995879020532191232
This gives TRX another month of hype, just like the periods leading up to the testnet launch and the mainnet launch. Yet despite the unending publicity, and the effect of the Consensus 2018 conference in New York, TRX prices remain relatively flat, locked between 7 and 8 cents for weeks at a time.
This article appeared first on Cryptovest
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Written By: Cryptovest
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