Just a few days ago I wrote about the fact that TRON is 33 billion TRX in the value of 500 million dollars. At that time, the purpose was still unclear. In a live stream TRON CEO, Justin Sun has returned, now known as the framework in which the TRX can be used.
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TRON reserves 33 billion, TRX, and plans big buyback
Now it is official: the 33 billion TRX will not be sold, and therefore remain in the possession of the Foundation. The fear that the 33 billion could lead to an Oversupply, and the TRX share price continued to drift downwards, are a thing of the past. The opposite is the case:
In the live stream Justin Sun announced that the TRON Foundation is planning a buy-back of TRX. Because, in his opinion, the current price was too low and the currency is significantly undervalued. Therefore, the Foundation TRX wants to buy back the equivalent of $ 20 million.
No plan on selling the 33 trillion coins and want to have a buy back program in place really soon because it is underrated and undervalued. $TRX #TRX #TRON #BTT #BitTorrent pic.twitter.com/MURVOPnIhE
— Sam The Carpet Man® (@SamTheCarpetMan) January 3, 2020
According to his own statements, the Buyback program aims to ‘to promote the activity of the Community and the market to maintain stability’. At this point it is very clear how truly decentralised crypto-currencies such as Bitcoin of Coins, such as TRX will differ.
In contrast to the TRON Foundation, it would be in the case of Bitcoin, absolutely no one, can easily start a buy-back program. A buyback could be used as a ‘monetary Instrument,’ and is an active intervention in the pricing/determination of TRX. Similar mechanisms, one sees otherwise only on the traditional financial and stock market, when it comes to a large-scale share buyback.
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TRX course is driven by current measures?
I have already mentioned: The biggest fear, namely the Flooding of the market by 33 billion, TRX, is off the table. Instead, it even comes to a buy-back. These two messages should be like the TRON of investors already.
Add to this the further statements, the Justin Sun made in the Livestream. So he was ‘confi dent’ that TRX soon on the US Version of Binance, namely Binance.US, will be listed. Furthermore, the Foundation is working hard to lists of TRX on Coinbase.
Parallel to this, the TRON network is gaining more and more importance. This can be, for example, on the Emission and use of Tether as a TRC20 Token make. So considerable are now (!) 22 per cent of the Tether (USDT) on the TRON network.
In view of these many events, it is quite possible that the rate of TRX in the coming weeks to travel and increases. By preventing the flood of Supply, the artificial reduction (=Buyback), as well as the potential Listings (Binance.US + Coinbase) tries to Justin Sun to set every lever in motion to the TRX course to cheer.
Justin Sun and the TRON Foundation is planning a repurchase program for TRX – Is fueling the action on the course?
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