Tron Foundation Stable coin

TRON Foundation Justin Sun Working Hard for Nitron Summit in Seoul 2020 and TRX backed Stable Coin

January 17, 2020 Off By Julie J

TRON launched Mainnet and became independent from Ethereum. Ever since then, TRON achieved several major milestones irrespective of the ebbs and flows in the Blockchain industry.  And, TRON is forever working to bring surprises to its investors.

TRON Smart Contract Platform

TRON competes with Ethereum and EOS.  The platform is considered to be the most active after Bitcoin and Ethereum. And about 5% of all the TRON addresses are active.

Tron Scan previously tweeted:  “Congratulations on #TRON total accounts exceeded 4 million!   According to #TRONSCAN, TRON total accounts have reached 4,015,527.  TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.  Appreciation to all #TRONICS @Tronfoundation.”

The daily activity and value of TRON are very high.  Notable numbers of games got released on TRON; however, sustaining the audience seems to need some work.

TRON’s Justin Sun Working for Nitron Summit 2020 and TRX backed Stable Coin

Justin Sun is getting ready for the Nitron Summit 2020.  It is during the summit the blockchain industry brings together top-notch developers, exchanges, projects, mining pools, and investors to exchange their views about the future of blockchain.

Justin Sun tweeted:  “#TRON community will launch a new decentralized stable coin backed by $TRX & $BTT.  What is the best name for this stable coin.”

Sydney Ifergan, the Crypto Expert, tweeted: “Despite all the confusing yet mind-blowing announcements, TRON continues to survive progressively, and it is perhaps their way of doing things.”

The news of a new stable coin did not do anything to the price of TRON, and the price continued to remain stagnant. Price consolidation is expected.  The chart indicators, however, facilitate a probable bullish run after the price breakout above the descending channel.  The long-term target for TRON is set at 320 Satoshis.

However, one person familiar with the subject stated that the TRON community would be pleased about the stable coin when it gets launched.  He also stated, “To get your collateral back, you have to send the same amount of stable coins back to the smart contract interest.”

Investors are prospecting on whether TRX will break its resistance level at $0.022 USD when the stable coin launches. It is expected that the launch of the new stable coin will increase the demand for TRX when the users exchange the currency as collateral for SC.  Despite the surprises, the network is forever active, and this keeps the smart contracting platform going.

  • 2