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Blog

Date:
14th Oct 2020
Author:
CryptoAltum Research Team

Over 3,000 BTC Now Circulate in the Tron Blockchain

Justin Sun, the co-founder of the Tron blockchain, has said over 3,000 BTC coins now circulate in the dPos and highly scalable smart contracting platform. Although the number pales in comparison to the number of BTC in Ethereum, this is the first step that could ultimately draw more DeFi users to Tron, helping steady TRX prices in the medium to long-term.


Details: 

That there are BTC now in circulation in Tron is a huge boost for Tron-based DeFi dApps. Most of them including JustSwap have been attracting decent trading volumes. However, with wrapped BTC and less the high transaction fees common in Ethereum, liquidity providers enabling trustless conversion of tokens, or dApps allowing lending of wBTC for above-rate yields will anchor their operations in Tron, boosting demand for TRX.


Impact on the TRX Price: 

Bullish. Justin Sun and Tron are keen to see DeFi succeed in their platform. The more BTC flows the more the demand for DeFi and TRX. Ultimately, this will be a net positive for TRX prices going forward.


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