Tron is gaining attention among global investors and crypto traders alike. The 16th most valuable crypto is fast becoming a sort of magnet among crypto holders, as investors cash in on the Ethereum based crypto.
Data retrieved from Whales Alert, an advanced crypto tracker revealed that a large entity moved 306,935,072 TRX (7,808,068 USD) from Poloniex to an unknown wallet.
READ: Tron Whale moves 40,000,000 TRX from Okex
306,935,072 #TRX (7,808,068 USD) transferred from #Poloniex to unknown wallet
— Whale Alert (@whale_alert) October 6, 2020
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At the time this report was drafted, TRON traded at $0.02556661 with a daily trading volume of about $1 billion. TRX price is down by -3.3% in the last 24 hours.
It has a circulating supply of 72 billion coins and a max supply of 101 billion coins.
READ: 3 Tron investors transfer 719,000,000 cryptos
Quick fact on the Tron project
Justin Sun founded the Tron Foundation in Singapore in 2017, with the aim of creating a protocol that could “decentralize the internet,” and support decentralized applications.
READ: Hackers, expose crypto wallets worth $150 million at Kucoin
- Beginning on Ethereum, it migrated onto its own blockchain in the following year.
- According to the foundation, the July 2018 purchase of BitTorrent further cemented TRON’s leadership in pursuing a decentralized ecosystem.
- In 2019, Tron and Tether announced a partnership to launch Tether Tron Whale transfers 306 million TRX on the blockchain as a TRC-20 token, the protocol’s equivalent of an ERC-20 designed to improve liquidity on crypto exchanges.
- According to the project’s whitepaper, the network is based on a proof-of-stake system, in which 27 ‘super representatives’ or SRs, produce blocks for the network. A total of 336,384,000 TRX are awarded annually to the SRs.
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