Tron (TRX): Price rebounds 8% just before token migration
Tron (TRX) didn’t see much of a price surge after the MainNet launch. In fact, it went just the opposite. However, as the time of token migration comes close, price rebound is being noticed.
Though its MainNet launch was one of the biggest achievement of the blockchain to date, price did not have a positive effect as it was expected. Investors even held back to see how its MainNet would function in use before investing more into TRX. April was the bullish month for Tron, as the price increased by 260%. However, since then TRX price has only gone down. After almost a month, rebound in its price has been noticed. In this one month, it went down of total 33%. Currently, Tronix the token is ranked number 10 by the market cap and went up 8.52% over the past 24 hours. TRX has a market cap of $3.23B with a 24-hour volume of $360.98M, CryptoSlate reported.
Token migration scheduled to take place from June 21 to June 25. After this migration, it will be gaining full independence from the Ethereum network. According to Tron’s website, “TRON main net will officially become independent on June 25, 2018, Singapore time. In light of main net updates and TRX migration, ERC20 services for TRON Official Website will be discontinued…ERC20 withdrawal services for TRON Official Website will end on June 22, 2018, 12:00 Singapore time.”
Related Article: Tron (TRX) officially initiates $20k incentive plan
The exchange handling the TRX token swap include Bitbns, Bit-Z, Bibox, Binance, Bitfinex, BitoPro, BitForex, Bithumb, BitKop, Bittrex, Bixin, Bitpie, Coinegg, CoinFalcon, CoinEx, Coinnest, Coinrail, Cointiger, Coinoah, Cryptopia, DragonEx, Gate.io, Hitbtc, Huobi, LBank, Liqui, OKEx, OEX, OTCBTC, RightBTC, UpBit and ZebPay.
Tron’s incentive plan
Meanwhile, Tron initiates an incentive plan offering a $20,000 reward to projects similar to the blockchain’s browsers and current outstanding wallet. As soon as a project passes the evaluation of the blockchain’s product technology committee, the reward will be granted immediately. They hope that the rewards will encourage more projects similar to theirs to come up. It will be enhancing MainNet ecosystem, provide a better user experience for Tronics and will also be creating a powerful ecosystem for the developers.
Image via Shutterstock
Join our Telegram group