Tron (TRX) CEO unveils epic Buy Back program on network’s Independence Day
Today is an essential day for TRON (TRX), and its entire ecosystem. On this day, one year ago, TRON managed to successfully separate itself from Ethereum (ETH) blockchain, on which it was initially developed. On this day, the coin became independent, and one of the most significant forces in the crypto space around the world.
To honor this day, reflect on what happened in the past year, and announce a few plans for the future — TRON CEO, Justin Sun, held a live stream in which he addressed the TRON community, and revealed what is in store for the future.
Justin Sun announces the Buy Back program
In the year following the launch of TRON's MainNet and token migration, the project made countless achievements, big or small. Those who have been following the news regarding the crypto market are likely to remember how often the project made headlines in the past 12 months. This is seemingly not going to change anytime soon.
One of Justin Sun's most significant announcements during the recent live stream was the TRON Buy Back program, which will see the recovery of TRX. The program is set to last for a year, and it has already started.
Sun called it the 'industry's largest' Buy Back program, which will 'drive the community activities and market stability.' It will include buying back TRX from the secondary markets in batches. Sun also stated that the TRON Foundation would increase TRX holding to express its confidence in the coin.
We will conduct by far the largest #TRX buy-back plan with the widest coverage in the secondary market, which will last for a year and will be conducted in several batches with no more than $20 million. #TRON $TRX https://t.co/AIZLM68feX
— Justin Sun (@justinsuntron) June 25, 2019
The move certainly shows confidence in the coin and its future, and as such, it might even further drive the coin's price. TRON has already seen significant advances in the past few days after it made a successful comeback to the list of top 10 largest cryptocurrencies by market cap.
The coin was pushed out of the top 10 list for the more significant part of the year, and earlier this year, Justin Sun stated that TRX would be within the top 10 and BTT within the top 30. Many have taken this announcement with a grain of salt, as the market conditions did not promise such development at the time.
However, the coins performed exactly as Sun predicted, with BTT even making its advance earlier than the prediction stated. At the time of writing, BTT sits at 35th place on the list of largest cryptos, while TRX holds the 10th spot again.
While significant, this is far from being the coin's only, or even its most prominent achievement in the past year.TRON achievements in 2018/2019
The TRON ecosystem started its evolution on June 25th, 2018. Since then, it made accountable moves that impacted not only the coin but the entire crypto space. The first most significant move was the acquisition of BitTorrent — a mysterious move at the time, as nobody knew what Justin Sun was planning to do with it. In months that followed, TRON announced its Project Atlas, and the reasons for acquiring BitTorrent became clearer. This also led to the launch of BTT in early 2019.
Another significant achievement is that TRON's network exceeded 3 million individual accounts. This is a massive growth in a single year, and it certainly shows the amount of interest in the cryptocurrency and its ecosystem. TRON also hit numerous milestones, and even set up new records, breaking the old ones, most of which were held by Ethereum. Its dApp development surged, and the number of smart contracts on the TRON network is growing steadily.
In 1 year TRON has:— Misha Lederman (@mishalederman) June 24, 2019
- Implemented SR voting & governance
- Acquired @BitTorrent
- Launched $BTT
- Partnered w/ @Opera, @Binance & more
- 2 stablecoins live
- Hit 3M accounts
- Given $9M to charity
- 490 DApps, $100M 24H vol & 300,000+ weekly users
Happy #TRON Independence Day! https://t.co/NBwPaIOf2P
TRON is also responsible for significant charitable donations. Its CEO, Justin Sun, donated large amounts to charities himself. It is estimated that Sun and TRON donated more than $9 million, in total. TRON also entered some significant partnerships, including the ones with Opera, Binance, numerous exchanges, and more.
All of this is still only a handful of the project's most substantial achievements, and there are countless others, all of which took place in only 12 months. This is truly an essential day for TRON, and in extent — for the future of the internet.
In his live stream, Justin Sun ended his official statement by saying that he is excited to see where TRON will be when its next Independence Day comes around. Considering TRON's rapid advancement, he is certainly not the only one who wonders.
In the end, there is no doubt that apart from the strides Tron made itself, some projects and teams played a vital role in the success of Sun-led blockchain so far. Some of them include Ante, Dice, ACE, TronEurope and of course, TWJ.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your 'very own' market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.