Tron (TRX): Token migration approaches, TRX continues to sink
Tron (TRX) is gearing up for the upcoming token migration that is scheduled to take place from June 21 to June 25. Justin Sun, the Tron founder has begun the countdown for the migration of tokens from ERC-20 to TRX.
If your TRX is held on in an exchange, you don’t need to do anything about it. However, if it is in the wallet, you should deposit it before June 24 to an exchange to avoid any losses. The withdrawals of TRX will be suspended from June 21 to June 25. On June 25, the deposits will also be suspended. Deposits and withdrawals both will be starting on June 26. During this time period, the TRX trading will not be affected.
More than 25 exchange platforms are supporting the TRX migration which include Bitbns, Bit-Z, Bibox, Binance, LBank, Bitfinex, BitoPro, BitForex, Bitthumb, Bitkop, Bittrex, Bixin, Bitpie, Coinegg, Liqui, Coinnest, Coinrain, Cointiger, Dragronex, gate.io, Huobi, OEX, Okex, OTCBTC, RightBTC, Upbit and Zebpay.
Post token migration
After the token migration completes, the Super Representative Elections is scheduled after that. It is to take place on June 26. The elected candidates will become the active participants of the validation network. According to Justin Sun, the Super Representatives will be having complete future governance of the firm. If you miss the deadline for the token migration (June 25), you can visit permanent token-exchange counter. They’ll exchange your tokens for Mainnet TRX.
Related article: Justin Sun shares the election manifesto of Super Representative
TRX Market Performance
Despite all its recent listings, partnerships and upcoming events, Tron (TRX) witnessed a 20.47% decline in price in the past 7 days. The cryptocurrency market has been trading sideways for the past couple of days and TRX is being affected by the bearish market. Currently, TRX is at the 10th position and is trading at $0.04 with a market capitalization of $2.77 billion. On June 13, TRX reached its monthly low of $0.03.
Meanwhile, Justin Sun recently shared a survey result showing why people invest in cryptocurrencies. The survey found that maximum people (42 %) voted for the option of “investing in a better world”. With much pride, Sun tweeted: “Our #hodlers are two times more likely to invest in #cryptocurrencies like $TRX because they want to create a better world. Join a truly visionary community. #TRON”.
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