TRON Foundation Burns 50 Billion TRX ERC20 Tokens 🚨 This article is 7 years old...
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TRON Foundation Burns 50 Billion TRX ERC20 Tokens
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Updated: Nov. 7, 2019 at 2:31 am UTC
Photo by Jamie Street on Unsplash
With the TRON mainnet swap underway, the Tron Foundation started the process of destroying, also known as “burning,” its old ERC20 tokens.
On June 25, Tron began migrating its tokens from the Ethereum network to its native blockchain. The transition left two versions of Tron tokens, including billions of old testnet Tron ERC20 tokens under the Tron Foundation control. These tokens will soon be worthless as the new chain stabilizes.
The Tron Foundation posted a screenshot of Etherscan, showing 49,491,130,776.584279 TRX being sent to the Ethereum address 0x0000000000000000000000000000000000000000.
Right on Time
The Tron roadmap has been precisely accurate so far, with the past several events all occurring on the planned date.
In the past few weeks, Tron announced that it acquired BitTorrent for $140 million and along with ZenCash would become a payment option on Pornhub.
So far, the Tron mainnet swap has been viewed successful, with over 493 nodes currently operating.
TRON Market Data
At the time of press 2:31 am UTC on Nov. 7, 2019, TRON is ranked #12 by market cap and the price is down 2.65% over the past 24 hours. TRON has a market capitalization of $2.56 billion with a 24-hour trading volume of $151.45 million. Learn more about TRON ›
Crypto Market Summary
At the time of press 2:31 am UTC on Nov. 7, 2019, the total crypto market is valued at at $266.83 billion with a 24-hour volume of $14.41 billion. Bitcoin dominance is currently at 41.92%. Learn more about the crypto market ›
Posted In: TRON, Price Watch
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TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger.