ABCC First to List TRX Tokens
The cryptocurrency exchange ABCC has become the first in the world to list ’s TRX10 tokens on its trading platform.
According to a tweet by ABCC which has been confirmed – and appreciated – by Tron’s founder and Chief Executive Officer Justin Sun, the two companies have entered into a partnership through which the exchange will list TRX tokens that are based on the crypto’s technical standard TRX10.
This announcement has come just days after ABCC first said that it was adding support for cryptos that were based on Tron’s TRX10 and TRX20 standards. Currently, however, the exchange has announced its listing of only the TRX10 standard.
Tron’s Technical Standards
Tron has two different technical standards for its tokens – the TRX10 and the TRX 20.
The TRX10 technical standard is designed for tokens that are supported by Tron’s Blockchain, but do not have the Tron Virtual Machine (TVM) deployed.
The TRX20 technical standard is designed for smart contracts that use TRX on the Blockchain and has the TVM deployed. TRX20 is also completely compatible with Ethereum’s ERC-20 tokens.
The Tron Foundation Growing
The Tron foundation has successfully created a favorable environment around its token TRX. Thanks to these efforts, the token and its underlying Blockchain are now attracting attention not just from investors but also other cryptocurrency exchanges.
Despite some negativity against it, the company has also continued to strengthen its position in the market through various partnerships.
In July of 2018, Tron bought out BitTorrent. However, the ex-chief strategy officer of the company stated that the foundation would not have the necessary transaction volume required to tokenize BitTorrent. Sun proved him wrong and used Tron’s native protocol to launched the crypto BTT early this year for the torrent client.
Then, on January 10 this year, the crypto exchange OKEx announced the launch of the TRX margin trading option on its platform. According to reports, users of the Hong Kong based exchange will be able to trade in TRX/USDT pairs with loans of up to 5000 USDT and in TRX/BTC pairs using loans of up to 100 BTC.
OKEx’s newest feature, the OK PiggyBank also reportedly now supports TRX. The PiggyBank allows users to gain interest from spare tokens that they can put into shared funds.
Tron currently has a market capitalization of $1.63 billion, though at the time of writing, the token’s price is down by 4.37% to trade at a price of $0.024478. However, despite being down now, the crypto is one of the best performers in the cryptocurrency market this year, marking double digit growth.