Tron Burns Over 98% of ERC20 TRX Tokens while Adding 2 More Exchanges

By Casper Brown
Published November 2, 2018 Updated November 2, 2018
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Tron Burn

Tron Burns Over 98% of ERC20 TRX Tokens while Adding 2 More Exchanges

By Casper Brown
Published November 2, 2018 Updated November 2, 2018

The world’s 11th largest cryptocurrency that is trading at $0.0225 with 0.26 percent gains recently burned $800 million worth of ERC20 Tokens that accounts for “98.01% of the total 100 billion TRX issued.” Meanwhile, Tron also adds more names to its growing list of exchanges while pledging $10,000 for

7th Batch of ERC20 TRX Tokens Burned

Tron founder and CEO updated the Tron community about conducting the 7th ERC20 coinburn on twitter with:

Today, Tron Foundation released a detailed report where it shared,

“Following TRON’s MainNet launch on June 25, 2018, TRON Foundation has been proactively updating its MainNet and conducting token migration in its global community. As of now, near 100 exchanges and wallets including OKEx, Huobipro, Binance, Cobo Wallet, Cryptopia etc. have completed their token migration and resumed withdrawal and deposit services. All the ERC20 Tokens retrieved will be processed by TRON Foundation.”

It also mentioned that the Tron Foundation has conducted 7 coinburns till now as it further adds,

“This time, TRON foundation burned 34776069388.7 TRX, which is part of the TRX locked by the Foundation. According to the official statistics, 98012196741.9 TRON ERC20 Tokens have been burnt so far, accounting for 98.01% of the total 100 billion TRX issued.”

Currently, “TRON MainNet is running stably,” writes the Foundation while it keeps on adding daily transactions, accounts, and exchanges.

BitexBook is one such crypto exchange that will now “provide TRON a powerful, in-demand service that will allow TRONICS to reduce effort spent on managing crypto assets and makes it transparent and reliable.” The exchange as per official announcement provides instant deposit, withdrawal in an hour, and commission from 0.1 percent.

Bixtranex is another exchange that will be adding a number of cryptos along with Tron on November 8 as per the Reddit announcement.

Moreover, Justin Sun also exceeds 500k followers on Twitter while pledging $10,000 for that will “help fund efforts to educate voters in key districts across the country to vote pro-net neutrality and support lawmakers to reverse the decision that ended net neutrality.”

At the time of writing, The world’s 11th largest cryptocurrency Tron has been trading at $0.0225 while being in the green by 0.26 percent.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Casper Brown
382 Articles
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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