Tron Whale transfers 306 million TRX

Tron is gaining attention from global investors and crypto traders alike. The 16th most valuable crypto is quickly becoming a kind of magnet among crypto owners as investors benefit from Ethereum-based crypto.

Data pulled from Whales Alert, an advanced crypto tracker, showed that a large company moved 306,935,072 TRX ($ 7,808,068) from Poloniex to an unknown wallet.

READ: Tron Whale moves 40,000,000 TRX from Okex

306,935,072 #TRX (USD 7,808,068) transferred from #Poloniex to unknown wallet


– Whale Alert (@whale_alert) October 6, 2020

Economic data can be found on the Nairametrics Research website

At the time of this writing, TRON was trading at $ 0.02556661 with a daily trading volume of approximately $ 1 billion. The TRX price has fallen -3.3% in the past 24 hours.

It has a circulating supply of 72 billion coins and a maximum supply of 101 billion coins.

READ: 3 Tron Investors Transfer 719,000,000 Cryptos

Quick fact about the Tron project

Justin Sun founded the Tron Foundation in Singapore in 2017 with the aim of creating a protocol that could “decentralize” the Internet and support decentralized applications.

READ: Hackers Disclose $ 150M worth of Crypto Wallets at Kucoin

  • Starting with Ethereum, it migrated to its own blockchain the following year.
  • According to the foundation, the July 2018 purchase of BitTorrent further cemented TRON’s leadership role in pursuing a decentralized ecosystem.
  • In 2019, Tron and Tether announced a partnership to launch Tether Tron Whale, which will transfer 306 million TRX to the blockchain as TRC-20 tokens. This corresponds to the protocol of an ERC-20 for improving liquidity on crypto exchanges.
  • According to the project’s whitepaper, the network is based on a proof-of-stake system in which 27 “Super Representatives” or SRs produce blocks for the network. A total of 336,384,000 TRX are awarded to the SRs annually.

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