Can Binance help Tron reach $1 mark?

Can Binance help Tron reach $1 mark? 18167
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Priyanka Babu
Jul 11, 2018 at 4:13 PM

The token migration of TRON on Binance has finally ended. The crypto holders who were anxiously waiting for the process to end can now start trading TRON tokens again. The token migrated from ERC20 to TRX20 tokens. Binance wrote on their official website: “Binance has completed the TRX and ICX mainnet swaps. Deposits and withdrawals for TRX and ICX are now open.”

TRON has fallen from rank 9 to rank 11 on Coinmarketcap. The price has displayed a decline and is currently trading at $0.033 and is declining against USD by 4.82%. Many opine that Binance can raise the value of TRON once it resumes trading in the crypto exchange.

BitForex maintains the position of the largest TRX trader. It trades 33% of all the TRX across the world. Binance represents 20% of all the TRX traded globally. Trading on Binance can add to the liquidity of the coin. The extra liquidity will increase the demand for TRX in the crypto market. This implies that Binance will help TRON to regain its place on coin rankings, maybe even reach the top five cryptocurrencies.

See Also: Another Tron Super Representative has been elected, Justin Sun announces the name

Binance currently handles the second highest daily trade volume after OKEx. It deals with a total of $1.097 billion in trade volume. This correlates with the fact that TRX can expect an increase in trade volume. Also, the partnership between these two giants of the cryptoverse has made Binance promise a permanent TRX coin migration until the successful completion of the migration.

TRON has announced a new addition to their TRON super representatives [TRONSR]. Sesameseed is the new candidate that emerged in the TRONSR elections. It is a community built organization transparently distributing block rewards to its community. A YouTube video uploaded by Sesameseed.org says the company chose to run as an SR because their company deals with community involvement and excels at serving a community. DPOS software is also a platform which offers community involvement and therefore the company thinks they can be of much help to TRON.

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