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Blog

Date:
02nd Apr 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Over $118.7 Million (60k) Ethereum (ETH) Now in Tron

Over $118.7 million worth of ETH is in Tron, Justin Sun, the co-founder. In atweeton Mar 31, Sun said the tokenized version of ETH (TRC-20) adds value to Tron. Many ETH coins are being tokenized, Justin explains, because of Tron's efficiency and reliability.


Details:

Ethereum, despite Gas fees troubles and scalability concerns, is the most adopted. Accordingly, competing platforms are often compatible with the pioneer network's virtual machine (EVM). Being part ofEthereum'swell-developed infrastructure and dApp density ensures faster traction and client on-boarding, helping steady prices. Additionally—and strategically amid the current craze, Ethereum's DeFi ecosystem is vibrant and liquid. Therefore, with over 60k ETH in Tron as TRC-20 tokens, ETH holders can enjoy faster transactions and negligibly low fees in Tron while still accessing faster conversion back to Ethereum. This is possible because of ETH-TRX bridges that are secure.


Impact on ETH and Tron Prices:

Bullish. The age of cross-chain DeFi is neigh. Projects that are interoperable will, therefore, draw maximum benefits. Tron is already active, and its DeFi scene is growing, tapping more USDT and stablecoins, BTC, and now ETH.


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