Tron (TRX) futures contract by BitMEX to be listed soon 17105
Pinaz Kazi
Jun 26, 2018 at 10:22 AM

Tron (TRX) just added another feather to its cap, as BitMEX announced that they’ll be listing Tron futures contract. The announcement was made on their blog post.

BitMEX is a cryptocurrency exchange that’s known for short trading through futures for up to 100x Leverage. The official blog post announced writing: “Due to popular demand, we will be listing the BitMEX TRON / Bitcoin 28 September 2018 futures contract, TRXU18, on or before 26 June 2018 08:30 UTC.” BitMEX also recently added quarterly futures contracts for Cardano [ADA], Ripple’s XRP token, Bitcoin Cash [BCH], and Ethereum [ETH], and EOS [EOS] in addition to pre-existing BTC contracts.

Futures Contract

The futures contract will allow the users to leverage an amount of cryptocurrency to trade them for up to 100x leverage, set by the user. This will be helpful for “shorting” or “short” trading so that the traders can make profits off declining prices. However, in the crypto-community, this is generally looked down upon and is referred to as gambling or betting.

See also: Tron [TRX] launching one of its secret projects on 30 July

Tron migration just came to an end and celebrated its Independence Day. They had an event-filled day with a 12-hour-long live stream that started at 10 am on June 25. It was live on Youtube, Facebook, Periscope, and Yizhibo, giving all the Super Representative candidates a platform and a medium for the community and stakeholders to receive the recent information. During the live streaming, they also gave an introduction for some of the Super Representatives on the Tron blockchain.

To celebrate the occasion, the blockchain also started burning 1 billion TRX tokens. According to Tron Foundation, “Coin burn encourages a fair distribution of cryptocurrency, helps to control inflation and reward token holders.” Now, it’s time for their Tron Super Representative elections. After the successful completion of which 27 representatives will be elected out of the one million proponents. The elected Super Representatives will play a major role in the governance structure of the firm, in future. They’ll be the guardian of the Tron network and actively participate in validation of the network and calculation.

Image via Shutterstock

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