Categories: Altcoin News

Tron [TRX] Raises 11% as Justin Releases a Series of Positive News

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Justin Sun would be the happiest man on the earth right now as all seems to be going right for him and the Tron Project. The founder of the 11 largest cryptocurrencies has released a series of positive news for the project in using his twitter handle. This news has excited the Tron community as the price of the coin has spiked over 11 percent.

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Here comes TronChat

Justin Sun using his Twitter handle shared the news that the project has launched the social media Dapp to compete with other social media apps such as Instagram Facebook and Youtube. As per the Tron team, this new platform will not only satisfy one’s social networking craze but also allow one to earn Tron’s native token, TRX, in doing so. The decision to create TronChat seems to have stemmed from the flaws associated with traditional social media platforms. Ever since Facebook was criticized for insufficient protection over users’ activities and privacy, consumers have been very careful. To eliminate this sense of worry and discomfort.

TronChat aims to “fix this paradigm, and allows users to make money from their everyday interactions with social media.”

Apart from the traditional features which everyone provides such as capability of sharing a wide range of content (i.e. pictures, stories, and videos), messaging one another, conversing in chat rooms, receiving direct updates and lastly, tipping, the app  gives users share their content, they can fix a rate in TRX as to how much the receiving end should pay in order to view to post. This is also referred to as “content premium”, which is not necessarily mandatory, but up to the content producer. Similarly, for messages, a user can use the same to share TRX’s.

Also, read: Tron Adoption Blast: Seedit Exceeds 10M TRX Tipped, TronChat Launch & Reaching Over 2M Merchants

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Tron lists on Kucoin while Tron foundation burns $670 million worth ERC 20 tokens

Sun again via his twitter hand also said that Tron [TRX] will now be listed on KuCoin.

KuCoin is currently the 53rd largest exchange in the world in terms of daily trading volume. Currently, $17 Million worth of tokens is traded on KuCoin. Tron will be traded in the following pair initially: TRX/BTC, TRX/ETH. The trading will go live from 28th August. The news comes just before the much awaited Tron Virtual Machine (TVM), which is said to release at the end of this month. The news of the listing has already taken the coin up and KuCoin listing should further increase the price, once deposits go live.

While Tron shared the news of its TVM and Kucoin listing, the Tron Foundation burns $670 Million Worth ERC 20 Tokens which is the fourth batch of tokens being burnt.

The medium post also said Currently, TRON mainnet runs smoothly, there are 909 nodes around the world, block height: 1818185(As of 16:16, August 27, SGT), token migration is still in process, meanwhile, TRON will keep tronics informed.

Tron definitely has given multiple reasons for its holders and community to cheer. The same cheerfulness is seen in the coins price. At this speed, Tron is slowly inching its wayward of the Crypto Market Cap Table and may soon be among the top altcoins.

Will TRX be able to break into top 5 cryptocurrencies soon? Do let us know your views on the same.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Nilesh Maurya

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.

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