TRON’s native cryptocurrency, TRX, has undergone a notable reduction in its circulating supply over the past year, dropping from 88.97 billion to 86.56 billion tokens.
This decrease, amounting to -2.93%, equates to approximately $381.2 million in value. The decline is attributed to ongoing token burns and strategic mechanisms aimed at bolstering long-term value and scarcity.
Over the past year, $TRX supply has decreased from 88.97B to 86.56B, a decrease of 2.41B $TRX($381.2M).$TRX is in deflation with a rate of -2.93% over the past year. pic.twitter.com/LNG0f35Nav
— Lookonchain (@lookonchain) October 11, 2024
Despite the reduction in supply, TRX has demonstrated a remarkable 84.46% increase in price over the last year, currently boasting a market capitalization of $13.81 billion.
This deflationary trend not only reflects TRON’s commitment to enhancing token value but also suggests a positive outlook for its ecosystem. Increased scarcity often leads to greater price stability and investor confidence, potentially positioning TRX favorably in the market.
TRON’S TRX SUPPLY DECLINES BY 2.41 BILLION TOKENS THIS YEAR
TRON’s native cryptocurrency, TRX, has seen its circulating supply drop from 88.97 billion to 86.56 billion tokens over the past year, marking a deflation rate of -2.93% and a decrease valued at around $381.2 million.… pic.twitter.com/9MKJ0Axdit
— Crypto Town Hall (@Crypto_TownHall) October 12, 2024
Recently, TRON executed a significant token burn of 10,136,282 TRX on October 11th, underscoring its dedication to deflationary practices and sustainable value growth. The net negative production ratio of -5,069,243 further reinforces TRON’s proactive approach in managing its token supply dynamics.
#TRON just burned 10,136,282 #TRX on October 11th 🔥 showcasing a commitment to deflation & value growth 🚀 With a net negative production ratio of -5,069,243 🤯 pic.twitter.com/s2wZBrIQ74
— TRON Community (@TronixTrx) October 12, 2024
Grayscale Looks To Add Some Of These Tokens, Eyes Tron
Meanwhile, Grayscale, a prominent digital asset manager, is contemplating the addition of new tokens to its investment products. A leaked screenshot reveals a list of potential additions, including TRX among others like TON, CELO, ATOM, and DOGE. This consideration by Grayscale reflects growing interest in expanding investment opportunities within the crypto space, potentially impacting market dynamics for listed tokens.
#Grayscale is currently considering adding new tokens to their investment products. You can see part of the list in the screenshot 👀, but here’s the full list:
TON, KAS, APT, ARB, TIA, CELO, CORE, ATOM, ICP, MNT, METIS, NEON, OP, POL, SEI, STRK, TRX, AERO, ENA, INJ, JUP, OM,… pic.twitter.com/AGNMsWVg0O
— Rektology (@rektlogy) October 12, 2024
As TRON continues to implement deflationary strategies and attract attention from institutional investors, its trajectory in the crypto market remains closely monitored for further developments in supply management and price performance.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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