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Tron (TRX) Announces $20 Mln Buy-Back Plan as TRX Returns to Top 10 CMC

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  • Yuri Molchan
    📰 News

    One of the things Justin Sun spoke about during the recent live stream was the upcoming TRX buy-back program by Tron, other important things were discussed as well

Tron (TRX) Announces $20 Mln Buy-Back Plan as TRX Returns to Top 10 CMC
Cover image via u.today

On June 24, the leader of the Tron Foundation, Justin Sun, conducted a live stream talk with the TRX community, discussing several important issues and answering questions.

Among the issues that were discussed, Sun talked about Tron’s plan to buy back part of TRX from circulation making an emphasis here on the secondary market.

The approaching TRX buy-back

Writing in the Medium blog, Tron says that the platform’s ecosystem keeps prospering and increasing. 

To promote market stability, the blockchain company intends to buy back part of TRX coins from circulation focusing mainly on the secondary market and intending to allocate around $20 for it.

The post also mentions that the TRX stock of the foundation is to be unlocked immediately as 2020 starts. However, the company does not have any plans on using those TRX coins yet.

Summary of Justin Sun’s live stream

The big Tron supporter Misha Lederman has summarized the takeaways from Sun’s stream on his Twitter page, naming the upcoming buyback plan, the beta-test launch of BitTorrent Speed to take place soon, the intended increase of Tron’s team by the end of 2019, the approaching lunch of Sun, Charlie Lee and other crypto leaders with Warren Buffett and a few other points.

TRX is back in top ten CMC

The other day, Tron has got its TRX back inside the top-ten coins’ list on CoinMarketCap. Now TRX again holds place #10, trading at $0.0390.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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