min to read

2019-09-30 21:01:36




News

Binance froze 12 billion TRX tokens and became the largest block producer on the Tron network

TRON and Binance

min to read

2019-09-30 21:01:36

The cryptocurrency exchange Binance froze more than 12 billion TRX tokens and, having voted by them, came out on top in the list of 27 superrepresentatives (block manufacturers) of the Tron network.

The cryptocurrency exchange Binance froze more than 12 billion TRX tokens and, having voted by them, came out on top in the list of 27 superrepresentatives (block manufacturers) of the Tron network. It is reported by UToday.

 

Binance’s voices are believed to have provided user funds that are stored on its staking platform.

 

The head of the BeatzCoin project (now in third place on the list) Misha Lederman noted that the exchange froze ? of the total volume of TRX in circulation. In his opinion, such a reduction in the supply of coins on the market will strengthen their price.

 

At the same time, Lederman noted that this Binance move violated the established system of voting on the network. The exchange received 59.2% of the votes, the next block producer in the list, Sesameseed, only 2.57%, BeatzCoin – 2.27%.

 


 

“Binance's sudden entry in some way violates the superrepresentative voting system that has existed since July 25, 2018. By buying 12 billion votes, freezing them and voting for themselves, they can set a precedent for other large exchanges,” Lederman said.

 

At the time of writing, the price of TRX increased by 8.8% per day (according to CoinMarketCap) – the highest rate among the leading digital assets.

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