Before trading any crypto asset, it is important to understand the risks. This overview summarizes certain risks associated with this asset. No securities regulatory authority has issued an opinion regarding this asset, including an opinion that it is not itself a security and/or derivative.
Investors in Canada are reminded that no securities regulatory authority or regulator in Canada has assessed or endorsed any Crypto Contract or Crypto Asset made available through the Uphold Platform. Read our risk summary for qualifying crypto assets.
About TRX
Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users.
The TRON network has gained incredible traction in recent years. As of October 2022, it has over 116 million total user accounts on the blockchain, more than 4 billion total transactions, and over $13.2 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021.
The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. In May 2022, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry - TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time a major public blockchain partnering with a sovereign nation to develop its national blockchain infrastructure.
On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.
What is the price of TRX?
TRX was one of the most popular coins traded during the 2017/2018 cryptocurrency bull market, going from $0.002 (USD) at the start of December 2017 to $0.182 on January 8th, 2018.
Aside from a significant rise at the end of April 2018, it has mostly been trading between $0.01 and $0.04 since June 2018.
The TRX price changes continuously, as it is traded 24/7 on major exchanges (including Uphold.com).
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