For the last one week, TRON (TRX) has been in the forefront of spreading its presence across the globe through various crypto exchanges. After getting listed on Indodax, Max and CoinEx, a fresh partnership has emerged. This time round, the platform has partnered with Shift Market whose CEO is non-other than John McAfee.
The deal means that TRON is entering into the currency markets. At the moment, TRX is available over 70 exchanges and Shift Market, which is a regulated in the UK will boost TRON presence in the UK and beyond. The boost will see the token gain traction during and after the current transition period from an ERC20 token to an independent coin.
TRON (TRX) Listed on BitForex
Barley hours after the TRON Shift Market partnership, another listing on BitForex has been announced. According to the announcement, BitForex will support TRX depositing and withdrawals effective 8 June. This is a unique professional digital currency exchange that has been operating since 2017 but only lists select digital coins.
BitForex has its headquarters in Singapore, a country that is turning to be a safe haven and digital coin hub. They have positioned teams in Germany, Hong Kong, Estonia and the Philippines and supports 86 countries across the globe. The exchange is however registered in the Seychelles.
TRON (TRX) Enters the FX Market through Shift Markets
The FX market is the largest globally and TRX entry is a surefire way for growth and value addition. This is good news for the TRON community and a gift for their patience during the token migration window. TRX will have additional trading pairs backed by a global presence.
Although the coin has not been performing well in the market for the last one month, things are looking better. The partnership with such a respected FX outfit has increased the platforms popularity and confidence is building from investors and other partners.
On his part, the TRON Founder, Justin Sun tweeted and said:
“#TRON partnered with @shiftmarkets to bring $TRX into more currency markets around the world. Stay tuned.
Sun added that:
“TRON’s partnership with Shift Markets marks a major expansion in the availability of TRX and fiat trading. We are proud to play a prominent role in joining cryptocurrency and FX markets across the globe.”
On his part, the Shift Market CEO, John McAfee added:
“We are excited to bridge the gap between the FX and crypto markets with a popular and exciting project like TRON. The demand from FX has been enormous, and we anticipate more and more crossover between the two markets.”
To position itself in the global market, a partnership with the largest Indian Broker, JM Financial is in the offing and this could come as early as next week. Once the two deals are inked, they will give TRON an upper hand in the FX market.
The Entry of TRX in to the FX market appears to strategically give it an edge over its competition, at least for now. However, the investors and the community will have to wait a little longer to start seeing the fruits of the ongoing listings and partnerships.
Oscillating TRON (TRX) Price
The TRX price has been quite unpredictable for the last on one month. This however is not an isolated case; the entire market is undergoing a lot of price shifts. TRX hit the green early todays and has been hanging there for the last 24 hours. This appears to be a shirt-term spike that can shift south or stay north towards the run-up to the token migration.
Contrary to holder expectations, a breakout appears to take longer than anticipated. TRX is trading at $0.059221 to the dollar with a marginal gain of 0.35% but losing to BTC and ETH by 1.87% and 1.76% respectively. After trading at $0.076 towards the end of May, the drop means traders and investors are waiting for the completion of token migration to swing in to action.