How TRON (TRX) Will Profit From Coin Burn

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How TRON (TRX) Will Profit From Coin Burn

Sat Jun 23, 2018 4:15 am

TRON (TRX)–To commemorate TRON’s Independence Day on June 25th (the official start of Main Net’s genesis block), the TRON Foundation is planning a coin burn of 1 billion TRX, worth nearly 50 million USD. As the press release states, the burn will constitute the largest destruction of money in human history. In addition, the 33 billion TRX combined fund of founder Justin Sun and the TRON Foundation will be placed in a locked account until the start of 2020, which further negates the rumor of Sun selling his primary holding in early January.

By burning 1 billion TRX (which amounts to 1% of the total circulating supply of the coin), Justin Sun and the TRON Foundation are signaling to investors that they are committed to raising the intrinsic value of the currency. The immediate aftermath of the coin burn is not to bring about a 1% increase in price, but to offer long-term leverage to the investment base, and to provide a touch of the aforementioned scarcity that has proven valuable to low-supply coins. In effect, the TRON Foundation is burning 50 million USD they have control over now to further the interest of the currency as a whole in the future. This move comes in addition to Project Genesis, a 2 billion USD resource fund to grow the development of Main Net and TRX-based applications. The TRON team has proven they are willing to forgo immediate profit in an effort to raise long-term value, which is a sentiment investors can easily recognize.


https://ethereumworldnews.com/tron-trx-coin-burn-2018/

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