As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself both intrigued and unsurprised by Binance’s announcement for TRX traders. The scheduled maintenance on the Tron Network is yet another reminder of the rollercoaster ride that this space can be.
TL;DR
- Binance will pause deposits and withdrawals on the Tron Network on October 10 for scheduled maintenance.
TRX is up 60% this year, with most holders in profit.
Announcement for TRX Traders
On October 10, the world’s biggest cryptocurrency exchange, Binance, will carry out maintenance on Tron Network wallets. This operation is estimated to last around an hour, during which deposits and withdrawals of TRX will not be possible. However, Binance has assured users that services will be restored once the maintenance process is completed.
Trading of the specified tokens within the mentioned platform will remain unaffected. Deposits and withdrawals for these tokens on the same platform will resume when the network is considered stable again.
It was additionally stated that no more updates will be given regarding this topic. Therefore, users are advised to approach any information they find online with skepticism.
This year, the company undertook several similar projects. In September, they carried out maintenance on BNB Smart Chain (BEP20), which resulted in a temporary pause of deposits and withdrawals on the network. Before that, they temporarily stopped some services with TON to implement an upgrade on The Open Network.
TRX’s Impressive Performance This Year
In recent months, the value of Tron’s native token has seen a significant surge and is currently 60% higher compared to the start of this year. Additionally, it reached a three-year peak of nearly $0.17 at the end of August, although it has since dipped slightly to its current price of around $0.16, according to CoinGecko’s data.
TRON (TRX) ranks among the highly profitable cryptocurrencies for its holders. As per IntoTheBlock’s analysis, approximately 99% of TRX investors currently have some form of paper profits. A mere 1% are at break-even point, while no investor is in a loss position.
Moreover, the Tron network experienced a revival, as evidenced by numerous meme coins being introduced on SunPump – a platform linked to Justin Sun that facilitates the swift creation of memes. The most prominent among these new tokens, in terms of market capitalization, are Sundog (SUNDOG) and Tron Bull (BULL).
Previously this summer, there was a significant surge in their performance. Lately, though, SUNDOG and BULL have been losing steam, and at present, they’re trading significantly lower than their highest points.
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2024-10-09 22:24