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Justin Sun Launches the World’s Third Cryptocurrency ETN

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Justin Sun, founder of TRON, published an open letter to the community on September 20, 2021, regarding the upcoming listing of TRX ETN in 14 EU countries including Germany, France, the Netherlands and Switzerland.

According to the letter, VanEck TRX ETN (VTRX) has been officially approved by Deutsche Börse Group and is available for trading on Xetra from September 21, 2021.

The approval from Germany will exempt VTRX from the approval of other EU regulatory authorities, and VTRX will be listed as compliant security in 14 countries including Germany, France, the Netherlands and Switzerland.

This marks TRX (VTRX) as the third mainstream cryptocurrency – after Bitcoin and Ether – that has been listed on the traditional financial market of Europe.

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Justin Sun introduced blockchain as a ‘value network’ to China in 2012, which established him as an early evangelist and practitioner of blockchain. Later in 2017, he founded TRON.

Today, TRON has built a comprehensive ecosystem spanning from underlying protocols and smart contracts, to NFT and metadata storage, boasting over 54 million users and $50 billion worth of crypto assets across the globe.

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Moreover, the TRON-based USDT (TRC20-USDT), with a circulating supply as high as $36 billion, is now the world’s largest stablecoin in circulation, accounting for more than 50% of the global market.

Not long ago, TRON also inked a strategic partnership with Valkyrie Investments to launch Valkyrie TRON Trust. As the first institutional fund targeting TRON’s crypto ecosystem in the US, the initial size of this trust is over $50 million, and it plans to file to go public in 2022.

Justin Sun also announced in his latest open letter to the community that BTTC, a layer 2 scaling and cross-chain solution, is scheduled for launch on October 30, 2021.

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By then, a closed loop of both layer 1 and 2 networks with sound cross-chain connectivity will take shape, delivering both a robust underlying network of global settlement layer and a heterogeneous, scalable cross-chain network – BitTorrent Chain – that features high throughput and full compatibility with EVM. This solution will usher in a new era of connecting all chains.

According to available resources, the listing of VTRX has been stringently reviewed and approved by Deutsche Börse Xetra, fully complying with the financial regulatory requirements in Europe.

Further, with the support of Clearstream under Deutsche Börse Group, TRX ETN is expected to be available for trading in the pan-European market on major European exchanges in London, Paris, Amsterdam and more.

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This marks another milestone of TRON – the forerunner in the global public chain sphere – in pursuing globalization and compliance under Justin Sun’s leadership.

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Tron Price Analysis: The TRX Coin Preparing For The Recovery Phase With Eyes On The $0.123 Mark

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The second half of November month eliminated all the gains the TRX coin gathered during October. With this recent price fall, the coin lost around 33% and plunged to the previous higher low of $0.081. However, the coin price is trying to bounce back from this support, aiming at the overhead resistance of $0.123

Key technical points:

  • The TRX price obtains dynamic resistance from the 20-EMA line
  • The intraday trading volume in the TRX coin is $1.68 Billion, indicating a 6.44% loss
TradingView Chart

Source- TRX/USD chart by Tradingview

The last time when we covered the TRX/USD, the coin price was trying to retest the previous swing high resistance of $0.123. However, the price couldn’t give a proper breakout from the overhead resistance and instead faced intense pressure and initiated another retracement phase. 

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With this bearish reversal, the coin price started dropping lower and ended up losing 33% in almost one month. Anyway, the price was plunged to the $0.082 mark and is currently trying to obtain proper support from this level.

The crucial EMA levels(20, 50, 100, and 200) states a bearish sentiment of this TRX since its price is trading below the trend defining 100 and 200 EMA. Moreover, the 20 EMA provides dynamic resistance to this coin and provides a bearish crossover with the 200 EMA.

The Relative Strength Index(45) indicates a slight neutral or bearish sentiment as its line moves below the neutral zone.

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TRX/USD 4-hour Time Frame Chart

TradingView Chart

Source- TRX/USD chart by Tradingview

The TRX coin initiates a bullish reversal from its $0.08 support and is currently trying to reclaim the nearest horizontal resistance level of $0.09 and the 200 EMA. However, As mentioned, the coin has another barrier of dynamic resistance of 20 EMA, and the price has to knockout this level as well to better confirm a rally.

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Justin Sun of TRON (TRX) bought 100 Coins at An Average USD price of 47,627.03 Bitcoin

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Justin Sun is optimistic that active and new accounts hit new ATH today. TRON network is very stable in the extreme market condition and attracting more users every day.

Also stated, To match the CEO of El Salvador Nayib Bukelee’s offer, I just bought the dip – 100 coins at an average USD price of 47,627.03 Bitcoin.

Tron community member was like:  What about your own coin tron trx? How about buying that? That’s down too. Try to do something about that, that hasn’t done anything for a long time. All the hype but never any movement in it.

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Otherwise activities in the TRON foundation are progressing.

Tron Foundation expressed:  Dear TRONICS, Our API function update has been completed. Our data on Coin Market Cap and other platforms have been updated and synchronised in real-time.

The circulating supply seems to increase suddenly on Coin Market Cap due to the update delay rather than caused by sudden transactions.

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Coin Market Cap is one of the top crypto tracker websites globally, and we will cooperate more closely to ensure to provide all TRONICS with more timely and accurate data information.

Community Response:  Still a TRONIC, but very disappointed. I can’t believe more people are not. This has cut the gains possibilities to a fraction. TRON usually makes things right so I’m looking forward to that, but one foots out the door.

It looks correct Chris I never relied on CMC always monitored Tron Scan data supply circulation and it is correct. CMC had old data.

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So now max supply is unknown? We have an additional 30 billion circulating no warning nothing.

How do you say this? And what is the interpretation of 40% + market for TRX?

Otherwise, The TRX and NFT Holders Airdrop event has been extended to 6th Dec.  Thus, it is never too late to join.

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Right after the TRX and NFT Holders Airdrop event was launched, more and more attention were drawn. But many users were too late to join or felt hard to figure out our rules. So, we decide to extend the end of the event to 6th Dec, 2021.

Community was like, what is the fun of having NFT if it’s value is near to zero?

TRON SCAN stated, the average daily transfer volume of stable coins on TRON network reached $9,677,999,233 (11.26-12.02) this week.  Relying on the strong alliance of 4 TRON -based stable coins USDT, USDJ, TUSD and USDC.  TRON’s ecosystem is continuously increasing.

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Tron Builds First-Ever Ecological Complex in Cryptovoxels Metaverse

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An ecosystem of three buildings and a temple has been built in Cryptovoxels metaverse.

In collaboration with MetaEstate, a leading digital real estate platform, Tron Foundation develops an ecological complex that includes the foundation’s headquarters, digital art museum and convention club.

Tron raises bets on metaverses, builds ecological complex in Cryptovoxels

According to the official announcement shared by the Tron Foundation, it released the first-ever ecological complex in the digital metaverse of Cryptovoxels.

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As such, TRON becomes the third company after SuperRare and SpaceX to announce the creation of its complex in the metaverse. The TRON complex refers to three adjacent buildings that are located on the east coast of Miami. It includes Tron Headquarters, the BT Convention Club and APENFT Digital Art Museum.

Also, the complex includes the SUN temple situated on the opposite side of the coastal landscape. TRON headquarters acts as both a conceptual art museum and displays hard capabilities together with a soft artistic comprehensive output.

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Tron Headquarters (TRON ECO HQ) has three floors, including an atrium with an eco-brand display of the Tron Network, a public office area with meeting rooms, and independent offices with large outdoor terraces.

APENFT art museum is a pioneering digital art exhibition in the metaverse

BT Convention club has two levels. The first one has a reception area and large conference hall. On the second floor is a large open office and theatre-like display space for meetings and conferences.

APENFT art museum is the first-ever cultural institution that exists in the metaverse only. It is dedicated to digital art and non-fungible tokens as its technical basis.

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APENFT demonstrates the artwork of prominent digital artists alongside the paintings of winners of the “Second Life” public contest.

The museum also has two floors: the first floor is a reception area accompanied by an open concert hall and artwork display area. The displays on the first floor are adjustable: they can be customized according to different needs.

Also, the second floor has a painting atrium as a symbol of Tron’s ability to onboard new-gen digital artists and their paintings. The second floor also has indoor and outdoor exhibition halls for early-stage artists.

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APENFT is among the largest and most influential players on the NFTs market. Associated with Tron Foundation, it performed an unmatched token burn event in July.

Its investing strategy is curated by digital art veteran Barrett Wissman, who joined APENFT as Chief Investment Advisor.

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