TRON (TRX) has been on many investors’ and admirers list for quite some time. Every crypto enthusiast is watching the direction the coin goes to decide whether they are selling off their tokens or buying into the anticipated new outfit. The TestNet success was a plus for the network but a lot of anxiety hangs in the air as we wait for the actual token migration in less than two weeks.
The crypto-market has been on a nose diving mission for the last few months and many investors and digital coin adorers are more concerned about the current prices and the future of cryptocurrencies. One worried lot is the TRON community and the TRX token holders. The token is in the process of gaining an autonomous status.
TRON (TRX) Events Coinrail Hack Market Equation
TRON (TRX) has been trading on the red and so is the entire market. The Coinrail hack seems to have added the market woes and prices continue to dip. This has not spared TRX and any hopes of the token gaining traction have been dashed. The uncertainty is the market has seen traders keep off with some cashing out their funds from exchanges.
The general market panic continues and a total of over 20billlion in market cap has been shed as the TRON migration continues. The breakaway from Ethereum will usher in the Odyssey v2.0 MainNet. However, the community has been put on high alert to lookout for any bugs that may affect the process with a $10million bounty.
TRON (TRX) Countdown: What you need to do
During the countdown, you need to visit the TRON new look website and market the date of the TRX token migration. You need to ensure your mobile app is in sync so that you can monitor the proceedings and check your wallet status.
Testing of the TRON MainNet is ongoing; this started in June 1 and it will be completed on June 24 at 23.59 (UTC+8). The ongoing bug bounty will end at around the same time. This will ensure there are no vulnerabilities and the system is stable. Reward for those who discover and isolate any bugs is set at $10million.
Another critical date to mark is June 25th immediately after the testing window is concluded. This will see the launch of the most anticipated launch of TRON Genesis Bock exactly at 00.00 (UTC+8). It is important to note that the Genesis Block is the first block for every new blockchain.
The token migration process has been automated and commence immediately on all exchanges supporting the TRON migration process. This will take4 days and will start from June 21st to the 24th. If you need to make deposits prior to the migration, you are required to do so before or on June 21st.
TRX Token Migration Support
Several exchanges are behind TRON (TRX) and Binance exchange earlier announced its support for token migration permanently after 24th June. This is very important to note on your calendar just in case you miss the set deadline. This allays fears that if you miss the deadline, your tokens will disappear without trace.
During the transition period, the TRX price is expected to dip or surge but this will be a short term effect that will be ignited by the media fear of missing out or pump and dump. With the birth on a new decentralized platform, it is good to look at the future of TROM rather than the current price dips and gains; this will come once the system is stable enough.
The future of TRON will be clearly cut after the Genesis Block is successfully launched and the token migration completed without a hitch. As of now the TRX price will remain in the red but once investor confidence is restored, a lot of traction is anticipated and the future of TRON (TRX) is poised to be very bright.