TRON (TRX) Price Reaches $0.23 on Top Exchanges

TRON (TRX) traded 0.4% lower against the US dollar during the 1 day period ending at 10:00 AM E.T. on March 22nd. In the last seven days, TRON has traded 4.9% higher against the US dollar. One TRON coin can now be purchased for $0.23 or 0.00000279 BTC on major exchanges. TRON has a market capitalization of $22.31 billion and $442.81 million worth of TRON was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• Tezos (XTZ) traded up 1.8% against the dollar and now trades at $0.70 or 0.00000833 BTC.
• Terra Classic (LUNC) traded up 1% against the dollar and now trades at $0.0001 or 0.00000000 BTC.
• aelf (ELF) traded up 0.8% against the dollar and now trades at $0.25 or 0.00000293 BTC.
• Terra (LUNA) traded up 2.7% against the dollar and now trades at $0.21 or 0.00000245 BTC.
• Adshares (ADS) traded 0.6% higher against the dollar and now trades at $0.54 or 0.00000640 BTC.
• GXChain (GXC) traded down 0.1% against the dollar and now trades at $0.26 or 0.00000309 BTC.
• BitShares (BTS) traded 1.7% lower against the dollar and now trades at $0.0010 or 0.00000001 BTC.

TRON Coin Profile

TRON uses the hashing algorithm. It was first traded on September 26th, 2017. TRON’s total supply is 95,010,238,403 coins and its circulating supply is 95,010,212,095 coins. TRON’s official website is trondao.org. The Reddit community for TRON is https://reddit.com/r/tronix and the currency’s Github account can be viewed here. The official message board for TRON is medium.com/@tronfoundation. TRON’s official Twitter account is @trondao and its Facebook page is accessible here.

According to CryptoCompare, “What is Tron (TRX)?Tron is a decentralized blockchain-based platform based on the TRON protocol, which is a blockchain operating system that offers high throughput, high scalability, and high availability for all decentralized applications (DApps) within the TRON ecosystem.The blockchain-based platform’s native cryptocurrency, TRX, was originally an ERC-20 token , meaning it was built on the Ethereum blockchain and followed the ERC-20 standard, before Tron launched its own blockchain.Initially, the project was aimed at providing full ownership rights while offering their content directly to consumers. It has since grown into an ecosystem aiming to establish a “truly decentralized internet and its infrastructure,” according to its whitepaper.Tron supports smart contracts and has a number of decentralized applications built on top of its network. Its decentralized finance (DeFi) ecosystem has billions in total value locked. The project gained mainstream attention after, in 2018, the non-profit organization heading Tron’s development, the Tron Foundation, acquired BitTorrent.Tron uses an account-based model similar to that of Ethereum (ETH) and achieves consensus through a delegated Proof-of-Stake (dPoS) algorithm that sees TRX token holders delegate transaction validation to 27 “super representatives” that are chosen every six hours.Who Created Tron?Tron was created by popular entrepreneur  H.E. Justin Sun, a two-time recipient of the Forbes “30-Under-30” award in Asia. The project was launched in early 2017 on top of the Ethereum blockchain, and migrated to its own blockchain in 2018.Before creating Tron, Sun founded audio application Peiwo, and served as a representative for Ripple, a for-profit fintech firm that has been one of the largest players in the XRP ecosystem. Sun’s previous successes attracted high-profile investors, who in turn attracted retail investors to Tron’s initial coin offering (ICO).H.E. Justin Sun is still actively involved in the project and has since integrated Poloniex into the Tron ecosystem. He also actively supports BitTorrent and is a permanent representative of Grenada to the WTO.What is TRX Used For?The TRX token has a number of use cases, with the main one being to pay for transaction fees on the Tron blockchain. TRX holders can boost their earnings by staking tokens with a Super Representative on the network in a move that involves freezing their tokens.The Tron network achieved its decentralization in December 2021 and has since then become a community-governed project through its decentralized autonomous organization (DAO). TRX holders vote on-chain for a selection of Super Representatives and can actively participate in the community to help the project advance.Tron is estimated to be able to handle 2,000 transactions per second and has low transaction fees, with blocks being generated every three seconds. These features have seen its adoption of stablecoins grow, with TRC-20 USDT and USDC supplies being significant.Moreover, Tron’s DeFi ecosystem allows TRX token holders to access a number of financial services on the blockchain.”

TRON Coin Trading

It is usually not possible to purchase alternative cryptocurrencies such as TRON directly using US dollars. Investors seeking to trade TRON should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase TRON using one of the exchanges listed above.

TRX/USD price chart by TradingView