TRON swapping tokens, let's see how it will go...
Coin of the day is TRON.
Returning to the TRX, which stays within positive boundaries during today’s BTC decline.
Recap for those, who didn't follow on TRX: Developed by famous “Jack MA protégé” Justin Sun, Tron is a blockchain-based decentralized platform, seeking to build a free, content entertainment ecosystem. The system being built will use distributed storage technology, which will allow cost-effective sharing of digital content. The project was founded by the Tron Foundation, a Singapore-based non-profit, back in 2017.
The token migration has started, within the next three days, TRX tokens will be migrated from ERC20 tokens to native, in TRON main net. It is a big milestone for this project, which has been hyped up quite a bit recently
About 40 exchanges agreed to support swap of tokens, so users of these exchanges won’t need to transfer their TRX tokens somewhere else. Users won’t be able to withdraw their tokens till 25 June, and on 26th the vote on block validators will be held. After 26th of June, the main net will be active, as TRON team promises.
If migration will pass without major issues, and TRON main net will be launched in time - that will give solid support and push for the TRX prices, otherwise TRX could face the same negativity as EOS with its MainNet problems.
Technicals
0.000007 level along with 100-days EMA, which have been broken a couple days ago stay strong and supports the price, which draws a flag correction pattern. Regarding the tokens transition process, the price will probably spend next three days in established boundaries between 0.000007 and 0.0000075 levels. All news about coin transition process and main net launch will be the major driver for the price in nearest days. Support boundary for the bullish scenario will be 0.000007 level and 100-days EMA, a breakthrough of the upper boundary of the channel (0.0000057) will confirm the further uptrend development.
Returning to the TRX, which stays within positive boundaries during today’s BTC decline.
Recap for those, who didn't follow on TRX: Developed by famous “Jack MA protégé” Justin Sun, Tron is a blockchain-based decentralized platform, seeking to build a free, content entertainment ecosystem. The system being built will use distributed storage technology, which will allow cost-effective sharing of digital content. The project was founded by the Tron Foundation, a Singapore-based non-profit, back in 2017.
The token migration has started, within the next three days, TRX tokens will be migrated from ERC20 tokens to native, in TRON main net. It is a big milestone for this project, which has been hyped up quite a bit recently
About 40 exchanges agreed to support swap of tokens, so users of these exchanges won’t need to transfer their TRX tokens somewhere else. Users won’t be able to withdraw their tokens till 25 June, and on 26th the vote on block validators will be held. After 26th of June, the main net will be active, as TRON team promises.
If migration will pass without major issues, and TRON main net will be launched in time - that will give solid support and push for the TRX prices, otherwise TRX could face the same negativity as EOS with its MainNet problems.
Technicals
0.000007 level along with 100-days EMA, which have been broken a couple days ago stay strong and supports the price, which draws a flag correction pattern. Regarding the tokens transition process, the price will probably spend next three days in established boundaries between 0.000007 and 0.0000075 levels. All news about coin transition process and main net launch will be the major driver for the price in nearest days. Support boundary for the bullish scenario will be 0.000007 level and 100-days EMA, a breakthrough of the upper boundary of the channel (0.0000057) will confirm the further uptrend development.
“TRON has completed token migration from ERC20 to mainnet. The community consensus initiated the TRON network and generated the Genesis block, which signifies TRON’s official independence. TRON is now one of the most competitive major public chains in the world.”