Tron (TRX) Is On The List Of Crypto Foundations With Highest Token Holdings Value
Tron is living its best days so far with all the latest achievements and developments.
Project teams for the top five crypto foundations are flaunting about $2.6 billion in token holdings, says the latest report coming from Diar.
Tron accounts for 46% of the holdings
The great thing is that Tron accounts for almost 46% of the holdings and the list of foundations which use the holdings to finance roadmap developments includes Cardano, IOTA, NEO, Tron, and Tezos.
It’s also worth noting that Tron recently burned 1 billion TRX and it reportedly has 33 billion TRX in a locked account until 2020. NEO has released about 15 million from their holdings.
Despite the solvency of high-profile crypto foundations, many ICOs that have been launched this year are floundering.
The report says that “While Initial Coin Offerings (ICOs) have to date raised double in 2018 what they did last year, the controversial fund-raising vehicle is seeing its popularity diminish to select projects.”
The same report goes on and explains that “Diar number crunching shows that 70% of tokens are now valued at less than what was raised during their ICO. And with tokens having no equity representation, markets have shrugged off cash-on-hand as part of an enterprise valuation.”
Tron enjoys new listings
Binance just paired its Binance Coin (BNB) with TRX.
Bittrex announced that TRX has become available to trade with the US dollar and this is the very first time that TRX has been paired with the USD in the US.
— Binance (@binance) September 19, 2018
Justin Sun also announced that Tron would be listed on BitBay, the crypto exchange that currently boasts more than 800,00 users. BitBay has recently moved to Malta and has become Europe’s third-largest exchange.
As you can see, Tron’s Justin Sun cannot complain these days at all, as everything is going smoothly and TRX’s future looks flourishing.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.