Binance Important Notice to Tron (TRX) Holders: Details

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 profiting. Announcement for TRX Traders

The world’s largest crypto exchange will perform wallet maintenance for the Tron network on October 10. The effort is supposed to last about an hour, during which TRX deposits and withdrawals will be unavailable. Binance assured that services will resume once the process is complete:

“Token trading on the aforementioned network will not be affected. Token deposits and withdrawals on the aforementioned network will be reopened once the network is deemed stable.”

He also said that there will be no more advertising about it, meaning users should take any information they find on the Internet with a grain of salt.

The company carried out several similar initiatives this year. In September, it performed BNB Smart Chain (BEP20) wallet maintenance, temporarily stopping deposits and withdrawals on the network. Prior to this, it briefly dropped some services with TON due to an upgrade to The Open Network.

TRX’s impressive performance this year

Tron’s native token has seen a rapid rise in price in recent months and is up 60% year-to-date (YTD). It also hit a three-year high of nearly $0.17 in late August before retreating slightly to the current $0.16 (according to CoinGecko data).

TRX Price, Source: CoinGecko

TRX is among the most profitable cryptocurrencies for holders. According to IntoTheBlock, almost 99% of their total investors are currently sitting on some paper profit. A little more than 1% are in equilibrium, while no one is underwater.

Additionally, the Tron ecosystem witnessed a general resurgence, with thousands of meme coins being released on SunPump (a platform associated with Justin Sun that allows users to create memes in minutes). The largest tokens in terms of market cap are Sundog (SUNDOG) and Tron Bull (BULL).

Earlier this summer, they experienced a substantial rally. However, SUNDOG and BULL have lost momentum in recent weeks and are currently trading well below their peaks.

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