The Tron (TRX) Community is excited about the new decentralized exchange that caters for all Tron based tokens. The DEX can be found on the Tronscan.org and links directly to the user’s TRX wallet. The DEX went live less than a week ago and has been breaking records as noted by Justin Sun in the following tweet.
— Justin Sun (@justinsuntron) November 16, 2018
Trading Pairs and TRX Trade Volume in the last 24 Hours
Further analyzing the trading activity on the Tron Decentralized exchange, we get the following data.
Could TRX Break Free from the Influence of Bitcoin (BTC)
Given that TRX has an entire decentralized exchange dedicated to tokens on the Tron platform, it is safe to predict that it is only a matter of time before the digital asset becomes less and less affected by the price action of Bitcoin.
The decoupling from BTC will not be instant because many TRX holders are yet to embrace the decentralized exchange. Majority are still trading TRX on the major exchanges such as Binance, Huobi and OKEX. There is also a vast majority still hodling their TRX in their wallets as long term investments.
However, if they too start trading on the Tron DEX, we could see the Tron trading ecosystem thrive outside of the standard crypto market.
TRX Market Performance
Further checking coinmarketcap.com, we find that TRX is currently valued at $0.0186 and up 0.17% in the last 24 hours. The digital asset was trading at values of $0.022 before the Bitcoin Cash hard-fork indicating that it has experienced a 15.45% drop since then.
Its drop in value is similar to what many digital assets have experienced since the eve of the Bitcoin Cash hard-fork that spawned the currently ongoing hash-war between the Bitcoin Cash ABC side, and that of Bitcoin Cash SV.
What are your thoughts on the Tron Decentralized exchange? Have you been trading on the platform? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Crimson or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.