Tron TRX Token Swap Nears – TRX Down -37% Since Main Net Launch

Tron TRX

Tron TRX – The TRON main net was released just nearly three weeks ago, but TRX’s price has yet to reflect the monumental event.

It remains unknown if investors are just waiting to see if the main net had any crucial bugs or flaws before cashing in, but two and a half weeks later and the coin is still dropping. Tron’s vision is years from completion, but it is surprising that investors hadn’t gained any confidence from the fact that the Tron team finally released the Tron blockchain.

TRX Token Swap

TRX’s token migration is set to start this Thursday and will conclude on June 25th.

At this time, all exchanges that have TRX on their platform will perform the migration for its investors. From June 21st-25th, TRX withdrawals on these exchanges will be suspended, and on the 25th, both withdrawals and deposits will be suspended.

TRX holders must transfer their TRX to the exchange they traded their TRX for before June 21st. If you forget to do so, there will be a permanent token exchange counter that will be able to swap your ERC20 TRX tokens for main net TRX tokens. All TRX tokens traded will be at a 1:1 ratio.

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TRX Price Movement

Tron’s digital token saw a spike in price around the middle of May but has since dropped and continues to drop.

At press time, TRX is trading at $0.0420 a coin, down -2.07%, in 24 hours. For the week, TRX is down –9.87% and for the month, TRX is down –37.77%.

It remains unknown if TRX will rebound after the token migration is completed, but many senior analysts predicted TRX would spike just after the main net launch and were wrong.

Featured Image: Politico

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