TRON CEO confirms TRX listing on Poloniex

Ali Raza
  • November 13th 2019, 13:23
  • Last Updated: November 13th 2019, 13:24
  • TRON was recently listed on the Poloniex crypto exchange, which caused its price to grow by around 4%.
  • Poloniex, which recently became an international exchange, also listed the TRON-based version of Tether (USDT).
  • Meanwhile, TRON continues with its new DDOS token minting, which is still mostly unknown.

TRON CEO and founder, Justin Sun, has just confirmed that TRX will finally be listed on a well-known crypto exchange, Poloniex. Rumors of the listing have been circling the crypto space for days now, and many in TRON’s community were glad to see that they are true.

However, it should also be noted that the move likely came after Poloniex became an international cryptocurrency exchange. One consequence of this particular move is that the exchange will limit traders located in the US.

TRON-based USDT listed as well

While the news of TRX getting listed dominates the headlines, this is actually not the only coin that found its way to Poloniex. Another cryptocurrency that is also listed is the TRON-based version of Tether (USDT). This version of the world’s largest stablecoin will also bring special incentives to those who opt to hold it or trade it.

TRON-based Tether also currently contains over 850 million units, and it holds great potential to bring additional liquidity to TRX.

As for TRON itself, the news of the listing allowed the coin’s price to grow by nearly 4%, placing it at around $0.020 at the time of writing. Even so, TRX is still outside of the list of largest cryptocurrencies by market cap, while its price remains rather stagnant.

DDOS token minting continues

Meanwhile, TRON’s network remains busy as always, and it is also currently engaged in the minting of the DDOS token. The token attracted a lot of attention due to the fact that it uses a new model of simulated mining in combination with TRON Energy. As a result, it produced over 21 million new tokens, where each transaction mints around 41 new coins.

While the effects of the coin’s issuance remain to be seen, its minting is scheduled to continue for the following 15 months. In a way, the token is similar to another asset called EIDOS, which is based on the EOS’ network.

However, the crypto community did not react positively to these two coins, as they believe that TRON and/or EOS might be threatened by them.

However, since DDOS has yet to be listed on exchanges — apart from a small decentralized exchange, Newdex — there is still no hype regarding the project. As a result, TRON’s daily transaction load is still at around 1.5 million transactions each day.

About the author

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Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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