Crypto

TRON Foundation Regains Control Over $400 Million in TRX

Several cryptocurrency projects have locked up part of their supply a while ago. TRON is no exception, as its lockup occurred in December of 2017.

It now appears that this funds is back under control of the TRON Foundation

Plenty of TRON to go Around

That in itself is not necessarily something to be concerned about.

Some may feel uneasy knowing that the Foundation controls roughly $400 million worth of TRX at this time.

This will undoubtedly spark serious speculation and potentially some FUD.

With one-third of the supply in circulation, anything can happen.

It is not in the best interest of the TRON Foundation to dump this on the market, however. 

All major crypto transactions are closely monitored on social media.

Related Post

Hiding tracks of doing so would be virtually impossible after the fact. 

Additionally, there has not been any official communication as to how the funds will be used.

A new lock-up is one of the opportunities to explore. 

Burning the supply would be another option to keep the community happen.

Then again, letting $400 million in TRX go up in smoke is not necessarily a viable outcome.

Some sources already claim how this will impact the TRON price in a negative manner.

That seems unlikely, albeit nothing is ever set in stone in this industry.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

BDAG $2.2M Miner Sales; LTC Positive Outlook, Uniswap Trials

BlockDAG's Mining Rigs Yield Impressive $2.2M; Litecoin Awaits Bullish Trend as Uniswap Struggles  With the…

9 hours ago

Ethereum Faces Resistance Amidst Market Gains: Justin Sun’s Activity And ETF Launch Awaited

Despite a 2.5% gain today, Ethereum is grappling with formidable resistance levels, particularly in the…

9 hours ago

Bitcoin Sees Upsurge To $67,000 Amidst Whales’ Accumulation

Bitcoin experienced a notable upsurge in the past 24 hours, reaching a high of $67,000,…

10 hours ago

Top Crypto Gainers in Q1 2024. These Three Tokens Are HOT!

As the market takes a breather, attention is turning to recent top crypto gainers in…

16 hours ago

The BEFE Coin Million-Dollar Dream: Turning $100 Into Wealth

BEFE Coin is a unique, meme-centric altcoin. However small, it is a booming contender in…

20 hours ago

Bitgert Coin Price Rally: Upward Momentum Expected This Month

The recent happenings in the cryptocurrency ecosystem has been favorable to the market. This is…

20 hours ago