Tron (TRX) Liquidity Continues to Increase with 36 Exchanges Resuming Deposits and Withdrawals
The Tron (TRX) token migration is still ongoing a month after it started on the 21st of June. Ethereum World News had reported on the 52 exchanges that were pleased to support the migration that would facilitate the switching from the ERC20 TRX token to the new TRX coin on the new Tron Blockchain.
By July 3rd, only 6 exchanges had completed the token migration and this was causing liquidity issues for the newly minted TRX coin that was also going to be used for the Tron Super Representative elections. Liquidity is described as the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset’s price. In the case of TRX, the digital asset was not accessible to many HODLers for it was locked up in exchanges that were yet to complete the token migration.
By July 14th, a total of 19 exchanges had completed the token migration. Now, this number has increased to 36 exchanges. The Tron Foundation had this to say about the new development:
With TRON Independence Day just past. As an outstanding independent mainnet blockchain project, TRON is cooperating more closely with the major exchanges and wallets. A considerable number of exchanges have stated their support for TRON migration and some of them has opened the deposit & withdrawal service.
The 36 exchanges are as follows.
This now means that the TRX coin is now accessible to more crypto community members for trading and HODLing. This will then facilitate the additional and welcome use of TRX in the purchase of goods and services as highlighted by Ethereum World News only a few days ago.