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- Justin Sun, the CEO and founder of TRON said in a tweet shared about the new stablecoin.
- Tron crypto to reach newer heights, there’s nothing backed to it to showcase that the trade of Tron will gain momentum.
- Tron might jump ahead as the demand for it might increase for exchange for the new StableCoin.
Justin Sun recently announced the launch of new decentralized stablecoin. Justin Sun, the CEO and founder of TRON said in a tweet shared about the new stablecoin, which is supposed to be upheld by Tron (TRX) and BitTorrent (BTT).
Justin Sun previously tweeted that there’s a big announcement to make, which had a ripple effect on the price of TRX, which spiraled upwards of 1% in a mere 24 hours just for the made announcement.
Later he asked his followers and community on Twitter what should the new decentralized stablecoin be named, which has added to the upward trend of Tron.
#TRON community will launch a new decentralized stablecoin backed by $TRX & $BTT. What's the best name for this stablecoin?
— H.E. Justin Sun 孙宇晨 (@justinsuntron) January 16, 2020
The announcement of decentralized stablecoin on Justin’s Twitter welcomed homogenous response by the community and followers. Primary responses included that the new coin is a waste of time and a total loss, many acclaimed that it is just a similar copy to the coin Digibyte.
https://twitter.com/TradePlaces/status/1217919833507016719
However, Justin’s response to it has remained optimistic and is hopeful of the new stablecoin’s success for the reason that Tron and BitTorrent back it.
I've been waiting for a decentralized stablecoin on #TRON for awhile. Basically you will put up #TRX or #BTT as collateral, and you get back a stablecoin. To get your collateral back you have to send the same amount of stablecoins back to the smart contract + interest https://t.co/EH6I5DEdMK
— Intuit Φ (@Intuit_Trading) January 17, 2020
Future of Tron
The announcement has given just a push above for the Tron USD pair. However, the much-awaited release is said to be the game-changer for the Tron crypto to reach newer heights, there’s nothing backed to it to showcase that the trade of Tron will gain momentum.
Since the announcement on Twitter, Tron has continued sailing at the same rate as it previously did. Tron might jump ahead as the demand for it might increase for exchange for the new StableCoin, it might also be opened in trading platforms but only in exchange for Tron crypto.
Tron is now trading at $0.0175 with a percentile increase of 756.8%, there is no cap on the maximum supply of the TRX coin, and it continues to reign the 10th rank in the Crypto World.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
