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Tronics untouched by Tron (TRX) burning another set of ERC20 tokens

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Yet again, during a tweet by the CEO of Tron, Justin Sun, the Tron foundation announced the burn of ERC-20 tokens. It is important to know that this will be the 5th set of ERC20 TRX tokens that have been burnt by Tron after the launch of its MainNet. According to Sun’s tweet, the ERC tokens burnt was roughly 4.9 billion – the coin burn occurred last week, on Thursday, Sept 13.

Tron’s Token Burn

Tron’s MainNet was launched on July 25th, and since then, Tron has continued to burn some of its old tokens.  According to Tron Foundation, the coin burn is regarded as the final phase of the Tron’s complete migration from Ethereum’s protocol.

As mentioned earlier, the 5th set of TRX tokens have been burned; the first set of tokens burned during Tron’s mainNet launch was approximately $50 million.

Due to the fact that about 4,917,487,036.059613 ERC20 TRX tokens have burned recently, Tron Foundation stated this in a blog post:

Currently, TRON mainnet runs smoothly, there are 1058 nodes around the world, block height: 2309162 (As of 18:45, September, 13, SGT), token migration is still in process, meanwhile TRON will keep Tronics informed, thank you for your support.”

Nevertheless, the Foundation didn’t fail to state the reason why another token was burned, which is to decrease and control the number of TRX tokens in circulation, to avoid mix-ups and increase the value of TRX in the crypto market.

Tron’s community on their part expressed their feelings and opinions, which weren’t positive enough as they weren’t excited with the recent token burn.

Moving forward, after the launch of Tron’s MainNet, the blockchain firm has increasingly been supported by different FinTech companies and Exchanges – as, it succeeded in getting featured on Wallets such as SatoWallet, Cobinhood, etc.

Tron Continues to Grow Riding on its Recent Developments

Not too long ago, Sun announced that Tron (TRX) had achieved greater heights as the number of accounts on its MainNet has exceeded those on EOS MaiNet, despite EOS MaiNNet being in the game for a while now.

Lots of crypto enthusiasts have noticed that the main reason why Tron has been able to surpass its predecessors and get lots of accounts on its MainNet was that it permitted Twitter and other social network users to send TRX within themselves.

Let’s not forget that Tron (TRX) got listed on ChangeHero and Instant crypto exchange platform, just recently. Nonetheless, Tron’s daily transaction has reached nearly one-third of Ethereum’s transaction. A tweet by TRX Colony reads,

TRX stared Aug. with only 30,100 transactions a day. By the end of the month, the average of daily transactions was nearly 1/3 that of Ethereum. Tron is the fastest growing coin; this rocket ain’t stopping for anyone.”

Subsequently, as it’s no secret to anyone, Tron has also acquired BitTorrent, which is often regarded as one of the greatest achievements in the crypto space. The blockchain firm has also optimized its feat with the launch of its Virtual Machine. The CEO of Tron, Justin Sun stated this during the launch of its Virtual Machine:

TRON is 80 times faster than Ethereum. With 14 years of experience, BitTorrent is providing world-class service to 100 million users in 138 countries. Add the two together, and you get the largest and most advanced peer-to-peer network in the world!”

Tron TRX Price Overview

There has been a slight improvement in the price of TRX after the coin burn. At the time of writing, TRX price has increased to $0.0195, after it saw a slight increase of 1.2% in its worth in the last 24-hours.

Check out the new Global Coin Report YouTube channel as we address all the highlights in crypto and the financial markets. With guests from all over the cryptosphere bringing you news, editorial, and of course, money making opportunities.

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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.

Photo by Thought Catalog on Unsplash

Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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