Tron (TRX) Moves to 9th position on CoinMarketCap as Mainnet Date Approaches
Justin Sun and the TRON Foundation recently tweeted about the growing success of TRX and the upcoming #TRONmainnet move.
With mainnet approaching and the announcement of the Ethereum-compatible TronVM Virtual Machine to be launched on May 25th, TRX has seen steady increases and today placed in 9th position globally with a cap of $5.59 billion – trading at $0.083. That’s a gain of over 18% in the past 24 hours and 60% over the past month. Bitcoin, by comparison, is down 5%.
The official Mainnet launch is set for May 31st when Tron will separate from its current ERC-20 standard on Ethereum to its own blockchain. The TronVM will facilitate the move to enable compatibility and ensure dApps built on Ethereum will seamlessly switch over.
TRX coin holders have until 25 June to deposit any remaining coins they have to mainnet supporting exchanges until the migration is complete.
Tron’s TPS (transactions per second) system is already better than that of Bitcoin and Ethereum, and they hope the move will accomplish even greater improvements. The TRX migration project has a large list of supporters including Binance, Bitfinex, Bittrex, Coinrail and Zebpay, to name a few.
Justin Sun believes that with the migration TRX has a good chance of becoming the world’s 6th largest cryptocurrency.
Backed by a young, professional, adaptable team, $TRX is officially in #crypto top 10, aiming for top 6. Stay tuned for 5/25 TronVM 2.0, 5/31 Mainnet, 6/26 SR Election, and more. 2018 is just the beginning. Watch us take the world by storm. #TRON https://t.co/1X0PNGKnEH pic.twitter.com/D1wqeMlmqy
— Justin Sun (@justinsuntron) May 9, 2018
Last month Tron announced the launch of their new development project, Genesis (Tron PG). The project enables the building and storage of applications and the execution of smart contracts on the blockchain.
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