Altcoins

TRON Expands to Indonesia, Pairing TRX with Rupiah

Undoubtedly, one of the most anticipated MainNet launches in the cryptocurrency space revolves around Tron. The launch took place on the 31st of May and the beginning of 1st June and did not disappoint critics as the entire space got to see the presentation live. While the Tron community is still celebrating the moment Tron gained its independence, the team at Tron was working relentlessly to promote their currency and blockchain protocol to the rest of the world. As at this moment, Tron has made public its expansion into Indonesia along with Indodax to trade with Rupiah.

Sun hinted at the possibility of expanding to Indonesia back in March. This comment was after the news about Binance’s expanding its platforms operations to Malta, positively affected the value of Tron. Sun went on to tweet on a previous tweet from Joseph Mescat, the Prime Minister and Leader of the Indonesian Labour Party, mentioning how much the country was interested in blockchain technology.

The positive market reaction to the news on Binance can be attributed to the fact that Binance is one of the top exchange platforms in the crypto-market for TRON. The exchange oversees a total of approximately $129 million worth of TRON traded daily. Binance, which is currently the world’s largest cryptocurrency exchange platform by trade volume, expanded to the Mediterranean Sea, to take advantage of the growing interest in blockchain technology in the region.

After a successful expansion into Eastern Europe, Tron is moving to Indonesia, to expand their reach in Asia. The digital asset exchange based in Indonesia, Indodax, entered into a partnership with Tron in a bid that will see Tron expand its reach within the country. TRX will be available for trade with the Rupiah through Indodax. This new pairing makes TRX one of the few cryptocurrencies paired with the Rupiah.

The trading pair, TRX/Rp will begin trading live from June 5th at 15:00 WIB after Indodax users start making their deposits from June 4th at 8:00 WIB. Indodax had made the announcement officially through their official Twitter account, welcoming Tron to their platform, ‘with open arms.’

Indodax has listed a few cryptocurrencies in their exchange platform. Some of these Cryptos includes Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH). Indodax is worth $23.4 billion by market cap, with Storiqa, Tokenomy, and Bitcoin occupying the top 3 positions

Tron is currently valued at $0.063, with a market cap of approximately $4 billion, earning Tron the 10th place position in the rank of cryptocurrencies by market cap. There has been a constant juggle between IOTA (MIOTA) and Tron (TRX), as the two compete between each other for the 9th position in the rank. However, Tron has dropped its momentum as it fell short of catching up with IOTA even after a successful MainNet launch, while IOTA has gone up a notch to secure its 9th position with a margin difference of more than a billion in market cap.

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Nicholas Holden

A chemical engineer who got obsessed with cryptocurrecnies. Holds small fortune in BTC, PVX and MIOTA. Nick's regular trading in the crypto space makes him come across exclusive news around the industry. Email: nick@blockpublisher.com or email the editor at editor.news@blockpublisher.com

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