TRON (TRX) Offered as Base Pair Coin on Binance
The TRX digital asset will form new markets and generate liquidity for BitTorrent Token (BTT) and WINk (WIN).
TRON (TRX) will be offered as a base pair currency to create new markets for two of its most prominent tokens, BitTorrent Token (BTT) and WINk (WIN). On Binance, the TRX asset will be used to generate liquidity for the tokens, expanding their previous pairings.
WIN and BTT were offered in high-profile IEOs on Binance Launchpad. The assets were rather volatile, and in the case of WIN, skeptics prevailed. Still, the TRON project is dedicated to propping up those two tokens.
BTT is still the flagship token for TRON, with its chief utility to pay for faster downloads on the BitTorrent protocol. BTT will also be regularly awarded to TRX holders in the coming years, based on a monthly schedule.
TRX slid in the past months, down to $0.015, losing about 50% of its value in a few weeks. BTT trades at $0.0005, down from a peak at $0.0017. BTT peaked at 35 Satoshi, and is now down to 5 Satoshi. WIN is also showing weakness, with barely making a rally after the IEO. WIN trades at 3 Satoshi, up three times since its rock-bottom price of 1 Satoshi during the token sale.
TRX itself trades in more than 250 pairs, but its price is discovered in pairings with either Tether (USDT), or more traditional base coins such as Bitcoin (BTC) and Ethereum (ETH). Binance issued the new trading pairs as part of its ALTS market, coming with a risk warning. TRX itself, despite offering a network to compete with Ethereum, has not achieved the same influence in trading, compared to ETH, which forms multiple highly liquid trading pairs.
TRX only forms pairs as a base currency on a handful of niche exchanges. The latest addition is IDAX, which is expected to build TRX-based markets in the future.