DragonEx Exchange Will Support TRON’s TRX Token Migration on June 21st $TRX

The decentralized entertainment content sharing platform led by Justin Sun will be migrating TRX ERC-20 tokens to TRON’s mainnet on June 21st, 2018. On Wednesday, Justin Sun announced that DragonEx will be supporting the token migration, alongside Binance, Bittrex, and Bitfinex.

Those who wish to migrate their tokens with DragonEx must deposit their ERC-20 TRX tokens to the DragonEx exchange before June 20, 2018, 23:59 (UTC+8). On June 26th, DragonEx will issue the equivalent amount of TRON mainnet tokens to those who deposited their TRX ERC-20 tokens before the June 21st deadline.

DragonEx Cryptocurrency Exchange

DragonEx is a Singapore-based cryptocurrency exchange – on May 15th they launched an English version of their site to expand their user base.

TRON’s price has continued to rise in anticipation of the mainnet launch and even with the recent market downturn, it is still up 1.21% over the past week.

In January 2018, TRX increased significantly seemingly out of nowhere, trading from $0.03 to $0.29 in just over one week – afterward, the market quickly corrected itself and TRX plummetted back down to $0.03. This time around, however, TRX has steadily worked its way back up to its current value of $0.07.

TRON is trading on $615 million in volume over the past 24 hours.

The mainnet launch may possibly have an effect on short-term price movement. Long-term price action will be dependent on the project’s overall progress moving forward. Despite the bear market, TRX seems to be doing well.

Named Odyssey 2.0, the mainnet will be officially launched on May 31st. The announcement highlighted numerous advancements that will improve the network, giving TRON the edge it needs to compete with Ethereum.

According to the announcement, Odyssey 2.0 will:

  • Provide highly available and asynchronous snapshot and reply functionalities
  • Optimize dozens of core parameters through binary exponential backoff algorithms
  • Distribute resources throughout the blockchain

TRON is preparing for the genesis block of the mainnet launch on June 25 – for more information regarding TRON and the future of the project, check out our TRON guide.

Cover Photo by Lily Banse on Unsplash

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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Jacob Tuwiner Author

Jacob Tuwiner

Jacob is an avid computer enthusiast interested in the crypto space and PC gaming hardware. When he’s not working on his site or writing articles you can usually find him in the outdoors with his buddies biking, hiking, and hopefully staying out of trouble. He aspires to help the average Joe learn more about computers.

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