Despite the Hype, TRON Lingers at the 10th Rank on CoinMarketCap
Even though Binance and Coinrail have announced that they would be supporting TRON migration, TRX still ranks 10th when it comes to the total market cap of the cryptocurrency. On 9th May 2018, Binance announced on its official Twitter ID that it would support the migration by saying:
#Binance Will Support #Tron $TRX MainNet Token Swap.
When the swap occurs, we will handle all technical requirements involved for all users holding #TRX.
On CoinMarketCap, you can see that the total market cap of TRON is a mere 5,181,385,135 USD which is 936,110,860 USD short of the total market cap of IOTA which stands strong at 6,117,495,995 USD. Despite all of the hype surrounding TRX, the cryptocurrency had a hard time maintaining its position when it ranked 9th for a brief period of time.
The cryptocurrency, however, can now be said to permanently be in the big league competing against big players in the cryptocurrency industry. While there is much speculation about the future of the cryptocurrency once it shifts to its own platform—the TRON Mainnet—it is highly unlikely that TRX would lose its position in the big league.
On April 30, Bitfinex announced that it would be supporting the TRON migration saying:
Bitfinex will provide full support for all TRX token holders and any tasks associated with the TRX migration will be handled automatically by the Bitfinex team to ensure a smooth migration. All users will receive TRX tokens in equal proportion to their ERC20 TRX holdings.
Given the promising results thus far, it can be expected that the cryptocurrency is here to stay. Moreover, Justin Sun, the Founder of TRON, as well as his team, have been proactively working towards ensuring TRX’s success—regardless of the cryptocurrency’s market cap right now.