Tron performs better than most of the altcoins today as $30 million worth of TRC20-USDT tokens entered the market. Let’s check on the price analysis in the TRX Tron news today.
The recent spike in price brings the total amount of Tether circulating on Tron’s network up to 450 million and this is called the ‘Tether Effect.’ It’s not a secret that the Tron founder Justin Sun aims to surpass Ethereum as the leading smart contract platform in the world but he is a little bit far off from doing so. The first step for the developers was to create their own standard which is the TRC-20.
Sun announced a partnership with Poloniex as well and urged the users to convert their ethereum based USDT tokens into Tron based ones. There has been a lot of activity for the cryptocurrency today and it appears that a number of exchanges are doing the same thing. The Tether printers have been fired up again and the fresh tokens are being sent to exchanges in order to provide support for the TRC-20 based USDT.
Poloniex is not the only exchange that has started using Tron’s standard. It appears that the Tether printers are sending some tokens as well into exchanges such as Huobi and Bitfinex according to the Whale Alert twitter account. In the last few hours, there were approximately $40 million in USDT sent to Bitfinex while $30 million was sent to Huobi.
It seems like Tron performs better since a few hours ago the Tron Foundation tweeted that there was now 450 million Tether issued TRC-20 tokens in circulation. The TRX prices have increased by 5.5 percent today though in the grand scheme of things they are still laying flat alongside most of the other altcoins. About a quarter of the volume at the moment is on two obscure exchanges: Biki and HCoin.
In terms of the dollar, TRON prices are down by more than 20 percent this year. Today, TRX is trading at $0.015 down more than 93 percent from the all-time high spike. Tether in the meantime flipped Bitcoin Cash in terms of market cap since now it is standing at .
buy cialis black generic buy cialis black online no prescription
1 billion according to Coinmarketcap.com. This year, the USDT supply has doubled as the printers worked overtime.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]