Almost 2 billion TRX transferred by crypto whales after Sun announced Tron will focus on DeFi in 2020
According to the Whale Alert Twitter account, there have been four consecutive TRX transactions going on in the market. One of them is worth more than 1 billion TRX, or $ 23,039,179. Up until this point, the reason why these four TRX transactions have emerged remains a big question mark. And the only viable reason might be some giants are using TRX for DeFi applications running on the Tron Blockchain.
? ? 1,146,147,385 #TRX (23,039,179 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) August 6, 2020
Crypto whales trade nearly 2 billion Tron (TRX)
Over the past four hours, someone has been transferring four giant amounts of TRX back and forth between anonymous wallets on the Tron Blockchain. The total value above and below is about $ 40 million, respectively.
Tron’s TRX has been on Whale Alert’s list of closely watched cryptocurrencies for quite some time. However, it was not so often that a large amount of TRX appeared on the market in the past.
As mentioned above, one of the reasons for such large TRX transactions may only be because Tron focuses on decentralized financial (DeFi) applications – which were initially attributed to CEO Justin. Sun announced recently.
Specifically, in a recent AMA video with Nischal Setty, executive director of India’s leading cryptocurrency exchange WazirX, Sun called DeFi as Tron’s most important keyword in 2020.
Justin Sun says:
“Tron is going to focus on decentralized finance apps this year.”
At the same time, this marketing mogul also mentioned the JUST lending platform provided by Tron capital using stablecoin USDJ. With this platform, users can lock their TRX and receive USDJ in return.
Besides, Sun also calls TRX a “major world currency” these days, thanks to supporting from the Turkish, Russian, and Indian communities.
Sun says:
“The Indian community is significant to Tron because they make up 30% of the BitTorrent project.”
At the same time, Sun also announced that the DLive livestream dApp would be fully available to Indian users by the end of 2020.
Read more:
- Justin Sun Rushes To Create More TikTok Content To Pump TRX But It’s A Desperate Attempt
- Hedge Fund In The British Virgin Islands Has Increased Its TRX Holdings By $20 Million