Tron Decentralized Exchange Justin Sun
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.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
In the rapidly evolving landscape of web-native payments it has become clear that new infrastructures…
A New Era for Global Trade: Alibaba Taps JPMorgan's Blockchain Global commerce has long been…
The Promise of Web3 Meets a Centralized Reality Web3 was built on a revolutionary promise:…
Bitcoin's Sudden Plunge Shakes the Crypto Market The cryptocurrency market is awash in red after…
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…