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How Tron (TRX) future looks after locking 33.25 billion ERC20 tokens?



Tron TRX

The latest from Tron Foundation is the completion of its token migration and the official launch of the June 25th Odyssey 2.0 mainnet. The Odyssey v 2.0 launch was supervised by the Tron Independent Group (TIG) who made the process a success.

And in keeping with safety precautions, Tron foundation saw it best to lock all the virtual assets in tune with the changes Tron (TRX) was undergoing. Tron now stands on good ground with the launch of the genesis block complete. The Tron community is now waiting and anticipating the results of the expected election exercise of its Super Representatives.

During the token migration, one of the highlights of the event was the burning of 1 billion ERC20 TRX affiliated coins with an estimated valuation of more than 50 million US dollars. It stands to be the most substantial coin burn in cryptocurrency brief history.

As a sign of celebration on their part, Tron foundation had indicated days before the ‘Independence Day‘ migration that they would be destroying 1 billion digital assets as a sign of celebration and freedom from their frustrating master, the Ethereum blockchain. And true to their word they did precisely that on the very same day they went live as an independent blockchain.

A day after the first block on Tron TRX’s platform was produced, Tron Foundation published an article through their official Medium handle stating Tron’s blockchain browser had revealed that its addresses had 99 billion TRX. Confirming that indeed 1 billion digital assets were burned which means the current circulation supply of over 65 billion digital coins leaves about 33 billion digital assets to be held by Tron Foundation.

The Tron TRX team has already shared indications that the digital coins will remain locked up until January 2020.

Many on hearing about the coin burn view it as an inhuman act towards your former master and towards a valuable asset; a coin burn means the coin is removed from the total supply and done away. It’s like the end of the coin’s lifespan. In the Tron situation, the Foundation could have most likely sent the old TRX tokens to a restricted, protected, dead wallet that’s unreachable to the general public.

Due to the nature of the ‘dead wallet’ the digital assets are made irretrievable, and despite the prices of the digital assets destroyed, Tron (TRX) seemingly does not see it as having a profound effect on its price and market valuation as of now though.

What is next for Tron (TRX)?

At the moment, Justin Sun and team seem to be making all the right moves. But despite making long strides, the journey is still long for Tron just like any other virtual currency. The hard work still lies ahead.

The future of Tron and its currency, Tronix looks bright. A joy for investors and holders who will stay loyal and hold through the current dismal performance and low prices (yeah, the token is also picking up alongside other cryptos in last 48 hours or so already). All odds seem to be on the cryptocurrency’s side already, let’s wait and see how Tron shapes with the time.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?



2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata



Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub ( will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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