October 29, 2020

Binance froze 12 billion TRX tokens and becomes the largest block producer in the Tron network

Binance cryptocurrency exchange froze over 12 billion TRX tokens and, having voted for them, came out on top in List of 27 Tron Super Representatives (Block Manufacturers) It is reported by UToday.

Binance froze 12 billion TRX tokens and becomes the largest block producer in the Tron network

Tron Block Manufacturers Portal Data

Binance’s voices are believed to have provided user funds that are stored on its staking platform.

BeatzCoin Project Head (now in thirdpositions on the list) Misha Lederman noted that the exchange froze ⅙ of the total volume of TRX in circulation. In his opinion, such a reduction in the supply of coins in the market will strengthen their price.

At the same time, Lederman noted that thisBinance move violates the established system of voting in the network. The exchange received 59.2% of the vote, the next one in the list of block producers, Sesameseed, only 2.57%, BeatzCoin - 2.27%.

“Binance's sudden entry is somewhat disruptivesuper-representatives voting system, which has existed since July 25, 2018. By buying 12 billion votes, freezing them and voting for themselves, they can set a precedent for other major exchanges. ”- Lederman believes.

At the time of writing, the price of TRX increased by 8.8% per day (according to CoinMarketCap) - the largest indicator among leading digital assets.

Recall, Binance launched a staking platform last week. Previously, Tron CEO Justin Sun introduced the new TRX staking revenue sharing system.