TRX’s Value Further Boosted with Another Batch of Old TRX Being Burned
Hey TRON DAO Community,
Good news! We’ve recently burned another batch of Old TRX, this time adding up to 268,971,097. This action is part of our ongoing strategy to improve TRX’s value and enhance the TRON ecosystem’s efficiency.
Here’s the breakdown:
You can also track the conversion of Old TRX here, and see the burning in action here.
Since TRON’s MainNet launch on June 25, 2018, we’ve been working to transition our ERC20 token, the Old TRX, and burn the superseded tokens. So far, we’ve eliminated over 99% of the Old TRX tokens!
This burn process coincides neatly with TRON MainNet’s 5th birthday. Over these years, TRX and the TRON network have propelled each other towards growth, leading to a host of significant milestones.
Currently, TRX is listed on more than 130 cryptocurrency exchanges worldwide, with over 80 million accounts holding our cryptocurrency. TRX has also gained legal status as an authorized digital currency in Dominica. Additionally, TRX ETN made its debut on Deutsche Börse in September 2021 and spread across financial markets in 14 EU countries.
TRX is more than just a token; it’s a common currency for all TRC-based tokens and remains a driving force behind transactions and applications on the TRON network. Today, TRX can be used as a payment method on the Web3 shopping platform Uquid and the blockchain-based travel booking platform Travala.com. TRX transactions can even be executed within Telegram’s chat app.
According to recent data from CoinMarketCap, TRX’s market cap is $6.88 billion, positioning it as the 11th largest cryptocurrency worldwide. As TRON continues to gain traction in both emerging and global markets, we anticipate a steady growth in TRX users and an expansion of its influence.
