TRON Token Lockdown is Hours Away

21 June, 2018

The TRON (TRX) token migration is scheduled to happen within hours, and exchanges will be instrumental to awarding the new balances. Within hours, exchanges will close their wallets, and the actual swap will happen on June 24. Two days later, voting for Super Representatives is starting.

Justin Sun, founder of TRON, reminded that the tokens will be exchanged on a 1:1 basis, taking into account exchange balances:

“As of now, there are already 30 exchanges that will be supporting the TRX token migration that will happen on June 24th at 0:00AM (GMT +8). Each exchange will offer their own timelines as to when they will no longer accept deposits for the June 24th token swap, so be sure to check with your appropriate exchange on the deadline for TRX token deposits.”

The TRX market price has reawakened, with so many milestones toward the end of the month. TRX inched up to $0.049, climbing to position 9 in the top 10 of coin by market capitalization. But taken as a long term trend, the current increase in prices is relatively minor, and volumes remain rather low.


The influence of Tether (USDT) has also increased for TRX, to more than 31%, fueled by the recently added Binance pair. This would allow TRX to chart a new trajectory, if speculative trading uncouples the price from Bitcoin.

But TRX is seen as potentially rising to a higher price level, as the markets shake off the bearish moods. The TRON project has announced promising partnerships, including the acquisition of BitTorrent, the early distributed computing service.

The TRX market price has worried traders for its stagnation, and now the project will have to show its possibilities for organic growth and real-world applications, without the unusual hype.

Source link   Crypto currency: TRON

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