The flurry of activities in preparation for the TRON (TRX) token swap appears to take the center stage and crypto world is watching as the events unfold. At first, many though the TRON ecosystem has bitten more than it can chew but everything seems to be falling in place as per plans.
The purchase of BitTorrent impact is now showing with the spike on TRX and Taiwan dollar pairs. Justin Sun’s investment of $140million on the torrenting outfit could be the catalyst the network has been missing. However, after TRX got listed on Max exchange and paired with the Taiwan dollar, the coin popularity in emerging markets appears evident.
End of TRX ERC20 Token Era
The new TRON software is about to land and the team has already prepared a soft land place. Through Sun’s hands on initiative, TRX has set the record of being listed in many exchanges within the shortest period in the cryptocurrency history.
Justin Sun has already announced the TRX token swap wallet addresses and this is a confirmation that the supporting exchanges are ready for the migration:
“Here are the TRON ERC20 addresses for exchanges. Users please transfer TRX to EXCHANGES; DO NOT transfer to the following addresses.”
The list of 200 addresses will only be used by exchanges and not TRX holders. The announcement on twitter was receives with a lot of optimism with fans saying TRX is headed to the moon.
To end the ERC20 token era, TRON (TRX) is gotten overwhelming support from over 35 exchanges during the migration period. This will help the platform cast its nets wide and give more entrants to participate in the Supper Representative (SR) elections earmarked for June 26.
The TRON community is aware that delinking itself from the Ethereum outfit requires hard work and commitment. It is also an opportunity for the network to bring out its full potential. Riding on the parent ecosystem had its limitations but with an independent blockchain, participants have their say and the Supper representative agenda will give the right TRON direction.
TRON Asian Market Penetration
The purchase of BitTorrent serves two purposes; the Asian market penetration and a future utility asset for the network. BitTorrent is a file sharing outfit and is a major future player in an industry that has been dominated by players who have the power to sensor what goes to the public and what does not.
This is a very strategic move and is worth every penny of the $140million. Given that the tokens migration is the last step to enable the newly created blockchain to go live, the coin will require the BitTorrent as a plan B for support going forward. The file sharing function will be a big boost to TRON relevance in crypto market.
TRON (TRX) Price Check
TRON (TRX) has not been doing well in the market with only unsustainable spikes occasioned by listing hypes. At the time of reporting TRX price stood at $0.049217 after gaining only a 4.19% against the USD, 2.30% to BTC and 0.98 to ETH.
Many TRX holders had anticipated the hype to spur the token price towards the $1 mark. However, traders are being very cautious given that the entire market has been slow for the last three months. There is a lot of expectation that after the migration and getting back to business as usual, the coin price will surge past the $1.