On September 13, Justin Sun, CEO and founder of the Tron Foundation, published a tweet about the fifth batch of token mastering TRX ERC20. According to Justin's post, about 4.9 billion tokens were burned this time.
Justin Sun's tweet said:
#Token TRX ERC20 were burned by #TRON Foundation. $TRX "
After the launch of the Mainnet that took place on June 25th, the Tron Foundation started the process of burning coins. According to the team, coin burning is considered the final step of Tron's migration from the Ethereum blockchain.
During the first batch of tokens, the Foundation burned 1 billion TRX ERC20 tokens worth approximately $ 50 million. The main objective of the burnt coins is to keep the number of coins in circulation under control, which in turn leads to higher prices. The Tron Foundation also said that the coins burned would encourage the fair distribution of the cryptocurrency.
However, advocates of cryptocurrency on various social media platforms seem to be unhappy with the ERC20 coin mechanism.
Juan, an enthusiastic crypt on Twitter says:
"Damn this is enough to tell us that you burned the ERC20 token it's not important that you did it." Burn the many Trx coins NOW! News Not this Thanks Justin "
Another Twitter user says:
" Meaningless news … Erc has been dead for months … unless these coins have been converted into trx coins, but they are Instead, it burns, so that would affect the offer.Otherwise useless "
A Tron enthusiast named mymouse says:
" I'm not sure whether it's a tweet or not … it has nothing to do with to do with nothing … simply burned old token erc20 … no impact on the current trx coin … .. "
After the launch of Mainnet, Tron received the support of many exchange platforms of cryptocurrencies. Among the recent announcements of the Tron Foundation, TRX is listed on platforms such as Bittrex, Satowallet and Cobinhood.
At the time of the press, Tron [TRX] traded at $ 0.20 with a market capitalization of $ 1.34 billion. TRX is currently in 13th place by market capitalization, with an increase of 9.58% in its price since yesterday. The TRX / USDT pair is traded more on OKEx with a volume of $ 18,607,769 in the last 24 hours.
A Blockchain analyst named Rakesh says:
"Good news soon
#TRX to Moon Heading around 10 $ in 2019 January"
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