TRON Update: New DEX, Accepted Proposal, and Justin Sun Helps Granny Buy TRX
TRON (TRX) saw little to no positive price movement leading into Monday morning, instead it gave up around 1.5% of its value as trade volumes fell 45% since the weekend.
More activity was to be found on the ever-active Twitter feed of TRON CEO and founder, Justin Sun, as he detailed plans for an upcoming improvement to the TRON blockchain, the imminent release of a new TRX-based decentralized exchange, and his own recent efforts to help a grandmother buy TRX.
TRON DEX Set to Launch
Sun took to Twitter this morning to announce the upcoming launch of a decentralized exchange built on and around TRX. The DEX is expected to go live in the next forty-eight hours, and will be the second TRON-based DEX in almost as many months. As per Sun’s announcement:
“TRX.market and Tronscan.org will jointly launch a new #TRX dex trading platform with powerful engine in 48 hours. New dex supports TRC 10 and 20 together! Looking forward to seeing it!”
TRC-10 is the native token standard on the TRON blockchain, while TRC-20 is the standard used for smart contracts on the TRON Virtual Machine, and is fully compatible with Ethereum’s own ERC-20.
Update Proposal & Justin Sun Gets Gran Into Crypto
Sun sent out the following tweet on Friday, detailing a new update proposal which he submitted personally:
“I have created Proposal 7 to increase our energy limit and support #TRON developers. This proposal allows them to have lower fee and cost with better experience! Plz vote for Proposal 7!”
By Monday morning, the TRON community had voted on the proposal, and decided that it would be implemented soon. According to Sun, Proposal 7 will help reduce fees, increase the network’s energy limit, and increase DApp use by over 500%.
Meanwhile, Sun also detailed his recent, hands-on efforts to spread cryptocurrency use among the elderly, stating:
“I just taught a grandma how to buy #BTC and #TRX. Took me forever. We definitely need a grandma friendly way to buy crypto! #TRON $TRX.”
It is unknown whether the grandma was Sun’s own, or merely a stray. More on that story as it develops.
Where’s TRON at?
TRON’s current position as the tenth largest coin by market cap may be ahead of founder Justin Sun’s 2019 prediction for the same ranking, however a quick glance at the coin in ninth place (Litecoin) shows a growing discrepancy between the two.
Litecoin’s valuation in the $1.4 billion range is not far from double that of TRON’s current $0.8 billion, and the gap between the majors and the minors appears to be growing larger by the day.
Is TRON a major altcoin? Well, its supremacy in Google Trend searches compared to Ethereum would suggest so, as would its dominance over competitors as far as website clicks go – as displayed in Justin Sun’s recent tweet which compared Tronscan.org with Stellar.org.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.