A $20 million buyback plan announcement was recently revealed by TRON. It appears that the buyback plan is centered around bolstering the overall activity in the TRON community. Market stability also seems to be an issue that needs improvement.
The buyback plan is the largest TRX token buyback so far. According to the official announcement, this buyback plan has the widest coverage in the secondary market up to date.
In the beginning of 2020, the TRON Foundation will publicly reveal its TRX holding. It’s strongly implied however, that currently there are no plans set in stone for the unlocked TRX amount.
TRON needs more than just the buyback plan
The TRON Foundation’s initial goal was to provide and oversee the development and maintenance of the distributed network. First iterations of the TRX coin were developed by the ERC-20 protocol on the Ethereum network. Later, the TRON protocol was created and TRON went on to become its own independent cryptocurrency.
Earlier this month, TRON announced its MainNet Upgrade Odyssey v3.6. The new update will also be focused on improving stability and security.
The strong bull run is sees TRON make a run to enter the big 10. At press time, TRX is the 11th largest cryptocurrency according to data from CoinMarketCap. TRX’s market capitalization is currently $2.485.991.751 with the current TRX token price being $0.037281.
The bull run however, doesn’t seem to be stopping any time soon. In fact, many analysts seem certain that the good times for cryptocurrencies are only just beginning.
Despite TRON’s rumored decentralization problems, it appears entering the top 10 cryptocurrencies is well within the project’s reach. After the Lucian Chen scandal, his accusations towards Justin Sun and TRON in general caught a lot of public attention.
Hopefully, as the bull market keeps on going, TRON finds its way back into the top 10 and all previous issues are resolved peacefully.
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