Tron partners with cryptocurrency exchange CoinTiger to launch the world’s first TRX market. The news was announced on 8th April on CoinTiger’s twitter. CoinTiger is a regional exchange with a majority of its traffic from South East Asia.
Currently, six TRX based markets would be launched on CoinTiger. They are – ETH/TRX, XRP/TRX, EOS/TRX, LTC/TRX, XLM/TRX, BTT/TRX. Trading began on 4 PM on 9th April SGT. In the meantime, TRX/ETH trading pair will be delisted on CoinTiger.
CoinTiger is a cryptocurrency exchange started from China, but currently operating out of Singapore. According to Coinmarketcap, the exchange currently has a trading volume of more than $300 million or more than 64,000 BTC. How much of this is inflated trading volume is not known.
To promote the new TRX markets CoinTiger would be giving 1,000,000 TRX and 3,000,000 BTT tokens. The rules of the competition are the same (as usual), the top 50 traders who trade between 9th April – 19th April will get the reward.
A value of cryptocurrency is determined by how many people want the cryptocurrency. With many cryptocurrencies having no use case at all, the only way to increase their market cap is by trading with the particular cryptocurrency. Ethereum used this strategy to come to the number 2 spot.
If Tron is able to build trading pairs across multiple exchanges, Tron valuation is slowly but surely going to rise. And if the trend continues it can surpass EOS.
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