TRON (TRX) Live on Bithumb Global: New Promo Events

The TRX asset will go through a week of promotional events, to mark the new listing.

TRON (TRX) will start trading on Bithumb Global this Tuesday, and go through a week of promotional events. Bithumb finally added one of the more influential digital assets:

https://twitter.com/BithumbGlobal/status/1168430049554337792

Along with TRX, the global branch of the leading Korean exchange will also list BitTorrent Token (BTT), and WINk (WIN), two of the flagship tokens on the TRON network.

The listing comes at a time when TRX prices remain depressed, sinking to $0.015. TRX is also down 90% in Bitcoin (BTC) terms, from the 1,600 Satoshi range to a gradual slide under 160 Satoshi. Despite the promising performance of the TRON network, the market price has continued to deflate in 2019, along with other altcoins.

The TRON project faced a mix of enthusiasm and skepticism. On the one hand, the platform quickly gained distributed apps (dApps), while adding more than 3.5 million accounts. TRON is also among the leading networks in terms of daily transactions, and further scaling will be possible with the Sun Network and the DappChain solution.

However, since the ICO, TRON has been seen as potentially fraudulent. At this point, the TRX market price shows no signs of outright manipulation, as it has not been protected artificially by the ravages of the bear market. Even at rock-bottom prices, TRX does not seem attractive enough for a rally, and it remains to be seen what the Bithumb listing effect will be.

Following the news, BTT appreciated slightly to $0.0005. WIN grew to $0.000316, though still at its rock-bottom price of 3 Satoshi, without much volatility. The WINk project is seen as the most dubious of all TRON-related tokens, as its activity is tied to gambling.

The TRON network also quietly expands its supply of Tether (USDT) as a TRC-20 token. The supply has grown from around 87 million to more than 112 million tokens. The TRON project also goes for a regular distribution of USDT rewards for holding onto the tokens. Still, TRX receives only around $30 million per day in direct USDT inflows.

The recent increased trading on Bithumb has grown daily volumes to above $1.9 billion’s equivalent. TRX volumes are currently just under $500 million’s equivalent, despite multiple and regular listings to niche exchanges. Right now, TRX relies on a series of newly-launched exchanges, with less activity on older, more established markets.

The advantage of Bithumb would be the potential to add a Korean won pairing, to inject additional liquidity and possibly create a new price discovery mechanism for TRX.