The cryptocurrency market is still revolving in a rollercoaster ride. The regular shifting of price from upsurge to cutback worrying the investors and traders from a long time. The price recoveries and corrections will continue to take place but it doesn’t mean the cryptocurrency businesses would stay silent and stop thinking about the lucrative collaborations which might help the establishments to grow and upturn the market in the approaching months.
The Tron (TRX) network which has recently become one of the largest platforms for building and deploying decentralized applications (dApps) after launching its own blockchain TRC-20, is reportedly collaborated with the 4th largest bitcoin exchange OKEx to list its USDT-TRON stablecoin on the platform.
Recently, Tron announced on its website about the latest move while proceeding towards the next level in a hope of increasing its liquidity:
“In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders.”
Following this step, OKEx would reportedly support three protocols of USDT, i.e. USDT-Omni, USDT-ERC20, and USDT-TRON.
Tron-based USDT token proposes its users: “TRX holders would get a new means of value storage, dApp users would get a new way to play [or access] dApps, it also increases the legitimacy with institutional investors.”
Security In Tether: USDT-TRON: Leap For Tron (TRX) Tokens
As per the market sentiments, it has been noticed that various investors and traders would like to reserve funds in stablecoins to safeguard themselves from unstable scenarios in spite of having a low margin game. Also, the market capitalization of Tether indicates trust and good stability that follows the current market position in the digital currency purview.
There are several other stablecoins like Tether (USDT), MakerDAO (DAI), TureUSD (TUSD), Carbon, Kowala, Cryptopeg, Boreal, Basecoin, BitUSD, Nubits- which traders are seeing the worth of investing. All these stablescoins are using Ethereum blockchain. However, USDT-TRON has built on its TRC-20 blockchain and is crossing the blockchain barriers which others are not. This could be quite advantageous for Tron Network which has the possibility of replacing Ethereum and earns its place in near- term.
Reportedly, by mid of 2019, Tron blockchain platform is coming up with four major developments. These are:
BitTorrent Speed: $BTT, Secure account management & institutional-friendly multi-signature, the launch of USDT-TRON stablecoin on TRX blockchain, and Implementation of privacy option for transactions.
With these unstoppable innovations, Tron is growing profitably in its steadfast approach.
Recently, Tron founder Justin Sun remarked about the data privacy and importance of decentralization:
Facebook or Google can easily manipulate the data for pushing ads through multiple ways and people are not willing to share their privacy stored by them. People don’t want to share those data with them. That’s why I think the decentralized way becomes a good way to do that and limit how much data you are required to share.”
TRON, with its objective to revolutionize the entertainment industry while decentralizing the web is taking a significant step while creating a Tether stablecoin on TRX. Probably, it can be essential for users to believe in the network. It is also true that the crypto market is still facing a downturn, general traders and investors are getting impulsive for the bull market to happen once again. However, this is the best time for institutional investors to invest and reserve the coins for the long run to get the whopping profit ahead.
It would interesting to know our readers comments on USDT-TRON and its surging market sentiments…