Will Tron (TRX) price go up with the 9.9 million token burn?

H6sQ...XnDT
15 Feb 2024
28

Dear Readers,
Tron is a familiar name in the crypto world.
I knew many of my friends would be using only in terms of TRX (Native token of Tron) while transferring it to other accounts due to the zero/ cheaper transaction fee and its high speed rate of transaction over the other crypto blockchain networks.
As everyone know, TRON is a decentralized, blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix. This is developed by TRON Foundation based at Singapore in the year 2017.
As, Tron uses the features of the blockchain and peer-to-peer (P2P) network technology, this eliminates the middleman and allows the creators to sell their work directly to consumers.
The software/blockchain developers use the Solidity programming language ( which is a object oriented program language developed by the Ethereum team to construct & design the smart contracts on blockchain networks) to create apps that are hosted on the Tron platform.
We all know that in every crypto, certain amount of the coins would be burnt in regular intervals so as to keep the total supply. At every time of the burn the price of the crypto coins would be raised to the increased demands. The dates of the burn will also be announced by the respective cryptos. The traders and investors would also be watching these important dates for their trading and investment activities.

Cryptocoin burn ideally means that a deliberate action to send these coins to an unrecoverable wallet address. This would create the scarcity of the coin and obviously the price will get increased. 

In a move towards this, Tron burnt 9.9 million tokens on February 14, 2024. With this there was a reduction of 9.9 million tokens from its total circulating supply. This move would expect the rapid growth of Tron eco system and the improvement of its potential scalability. 
Currently Tron TRX is trading at 0.1309 USD, an increase of 1.5% from yesterday and registered an upward movement of 7.2% on a weekly basis. 
At the current trading price, TRX is trading 56.4% lower than to its All Time High Price of $ 0.3004 which was registered on January 15, 2018.
The major question among all the TRX lovers is that by these kind of efforts would TRX would go high as 0.5 USD?
Only time has all the answers along with interests of the developers & their projects on this network that will attract the investors towards TRX!

Get fast shipping, movies & more with Amazon Prime

Start free trial

Enjoy this blog? Subscribe to HiRaj

0 Comments