February 26, 2024

Justin Sun: Tron Will Not Use Unlocked 33 Billion TRX

Justin Sun: Tron Will Not Use Unlocked 33 Billion TRX

On January 3, Justin Sun held a live broadcast on the DLive platform, during which he discussed the futureblockchain industry. On the stream, the head of Tron said the company was not going to sell the recently released 33 billion TRX.

Sun said the Tron Foundation will notgive up ownership of 33 billion TRX. However, the company does not plan to sell them to the market in the near future. In his opinion, selling such an amount of TRX is an extremely reckless idea that can significantly reduce the price of an asset.

In addition, Justin confirmed that the company plans to launch the TRX buyback project.

According to a company statement publishedpreviously, the main goal of the program is to reduce the number of TRX in the market. According to the management of the fund, reducing the number of coins in circulation will help increase demand, and this in turn will cause a price increase.

During the broadcast, Justin Sun also talked about the fact that at the momentthat there is too much TRX in circulation, and that this is the main reason for the undervalued asset.According to him, the buyback program will eventually helpreduce the supply, thereby increasing the demand for the coin and its price. 

Based on materialsu.today