Tron(TRX) Celebrates First Anniversary, Welcomes New Developments
The freshly-independent TRON (TRX) has been dropping hints of a “secret” announcement which is planned to happen at the end of July. The project also launched a Chrome extension, after releasing the TRON Virtual Machine, both developments being in testnet phase.
The project’s founder and CEO, Justin Sun commemorated the project’s 1-year anniversary with a tweet:
This “secret announcement” once again generated rumors that an Alibaba partnership is in the makes. Other speculations involved its collaboration with BitTorrent, and how will the project be integrated with the file sharing service further on. Eventually, the information was revealed to not be that important, as other milestones were posted on TRON in its latest round of updates.
TRON did not fail its community, as it went with another important development, a Chrome extension. TronLink, as the Chrome extension is called, can be used only by developers that want to deploy smart contracts to the testnet.
“This is a version which mainly targets developers, since it will only support testnet use until smart contracts launch on the mainnet,” posted the TRON Foundation recently in their blog.
At some point, TronLink will function in tandem with the mainnet TRON nodes, as well as coordinate with Tron’s Virtual Machine (TVM). The TVM will also be compatible with the Ethereum Virtual Machine (EVM) and will permit the running of dApps without requiring gas fees.
In spite of all of TRON’s updates, the token has depreciated in value. TRX is currently trading at $0.034687 USD.
Cryptocompare revealed that TRX profile has moved 54.56% of all trades with the Tether (USDT) token, most of it being relocated to the OKEx exchange. BitForex, a new exchange also held around 12% of TRX trades, thus destabilizing Binance’s dominant position. BitForex and OKEx have both been accused of generating fake volumes.
Formerly, TRX trading was happening on one exchange, which enabled for traders or bots to easily pump up the price. But, the recent activity on newer exchanges is seeming not producing the same hype for TRX.