TRX coin burn rate is now at a new milestone this year as a deflationary coin.
Tron is a popular Proof-of-stake model-based blockchain network, which is known to provide high-scale crypto funds transactions. Trx is a Native coin of the Tron blockchain and this coin is standing at 7th rank, in terms of 24 hours global trade volume.
The current price of the TRX coin is $0.0627 and this is 36% down over the one-year time frame.
On 17 October, The official Twitter account or Tron network explorer announced that TRX deflation stated reached 9.6 billion #TRX, in a total of 50 weeks.
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$TRX has been in a state of #deflation with the total amount of deflation reaching 9.6 billion #TRX, for 50 weeks (2021.10.28-2022.10.12)!! pic.twitter.com/zc2xiGNc2W
— TRONSCAN (@TRONSCAN_ORG) October 17, 2022
It means, the birth new token over the burn of the old TRX coin supply plunged. It is happening under a TRX coin-burning mechanism, which was introduced after a community vote proposal in Feb 2021.
Tron (TRX) as a legal tender in Dominica
On 12 October, Justin Sun, founder of Tron blockchain, announced on Twitter that TRX and other TRX-minted coins are now can be used as a medium of exchange in the commonwealth of Dominica.
It is official! All #TRON cryptos including #TRX #BTT #JST #NFT #USDD #USDT #TUSD are granted statutory status as authorized digital currency and medium of exchange in the commonwealth of Dominica effective on October 7th 2022
https://t.co/p97zJkzhUe pic.twitter.com/kbejwXrkXt
— H.E. Justin Sun
(@justinsuntron) October 12, 2022
Also, the Tron team established a partnership with the government of Dominica to design a blockchain to launch the national digital currency DMC coin.
Last week Tron founder joined Huobi Global crypto exchange as a member of the global advisory board. A few reports claimed that Justin may be the core buyer of the Huobi crypto exchange but Justin denied those reports.
I am very honored to be appointed as a member of the Global Advisory Board of @HuobiGlobal and work with industry, academic, and policy leaders to help guide and grow this innovative, vibrant, and resilient organization in its latest chapter of global expansion. Full sail ahead. https://t.co/txZspJaV4Q
— H.E. Justin Sun
Read also: American Banks are promoting cryptocurrencies, Says Charles Hoskinson
1,106,056,407 Tron (TRX) tokens have been burned so far
https://bitcoinik.com/1106056407-tron-trx-tokens-have-been-burned-so-far/feed/
https://bitcoinik.com/1106056407-tron-trx-tokens-have-been-burned-so-far/feed/
