It is now official that Tron (TRX) has been listed on Indodax exchange and paired with Indonesian Rupiah. Just days after the MainNet launch, the token appears to make inroads into new markets as an independent entity after migrating for the Ethereum parent network.
The move comes days before the Tron super representative elections scheduled to take place on the 26th June. The token is now ripe for global adoption as it seeks to strengthen is investor confidence. Tron seems to follow the Binance steps by also announcing its plans to move to the crypto-friendly Malta.
Tron (TRX) Entry to the Asian Market
Tron adorers have been baffled by the speed the token hit the ground running. Spreading its wings to Asia through Indodax means a lot to the investor community. The listing makes Tron available through the largest Indonesian exchange and their pairing; TRX/Rp, will strengthen the token foothold beyond the Indonesian borders.
The much hyped announcement means that TRX/Rp will be available for depositing from 4th June going forward. However, the live trading is set to commence a day after. Community members and Tron die-hards took to twitter to show support of the listing:
“TRX#TRON is going to the world most adopted cryptocurrency as the number of fiat pairs will grow and people will be educated on the lack of value in fiat and how corrupted entities can just flip a switch to print/increase a number of fiat currencies they own.”
However, critics are arguing that the swift move is a distraction from the herculean task ahead of the token after gaining “independence” from Ethereum. TRX price dropped by 20% during the run up to the MainNet migration raising concerns; however, the coin is back on the green shutting the opponents up.
Indodax Tron (TRX) Listing
Tron (TRX) choice for Indodax as part of its route to the Asian market could not have come at a better time. The exchange has other major coins listed including BTC, XRP and ETH that are paired with the Indonesian Rp and more are expected in the near future.
Indodax joins the ranks of Upbit, Binance and Bithunb to trade TRX. However, the new exchange is set to boost the volumes other outfits are pushing to the market for additional adoption and traction. The listing of the token prompted the Tron founder, Justin Sun to add his voice through his twitter handle:
“#TRON has expanded into #Indonesia and you can now trade #TRX in our first Rupiah pairs $TRX/$Rp. More exchanges are coming! #TRONSR.”
Tron (TRX) Super Representative Elections
After Justin Sun announced the Tron Supper Representative Elections last month, a lot of activities have been going on in reediness for the June 26th elections. This is a critical move for a token that just gained independence a few days ago. This will see a total of 27 representatives elected to form the first ever self-governing body in the blockchain history.
A software development outfit; Hello World has already announced it will run for one of the slots. This is a huge boost given that the company is a market leader development of innovative software of the future. This is a major boost for Tron on its fishing missions for strategic partnerships.
How is Tron (TRX) Fairing in the Market?
By spreading its wings to the Indonesian market, Tron (TRX) intention is to increase its subscriber base and gain more global acceptance. The migrating from Ethereum, the new listing and the anticipated elections are some of the activities that will culminate in spiking the token price.
At the time of writing, the coin was trading at $0.062903 against the dollar after a 24 hour gain of 3.34% to the dollar, 2.51% to BTC and a drop of 1.34% against the mother coin, Ethereum. The current market recovery is set to continue and this could be the breakout that TRX has been anticipating which a good sign for the investors to stake on the token.