TRON Foundation’s TRX has officially undergone its first deflation in history from March 30th, 2021 to April 5th, 2021, and a total of 5.76 Million TRX in token circulation was reduced.
This milestone from TRON makes them the world’s first cryptocurrency that moves from inflation to deflation.
What can we expect from TRX Circulation Supply Cut Era?
TRON Foundation TRX’s leap into the era of deflation makes them the world’s first deflationary digital currency and the total supply of TRX has been cut from 101,678,790,175 to 101,673,029,723 TRX.
📢#TRON has completed its first deflation in history from March 30th, 2021 to April 5th, 2021🎊
— Justin Sun🌞 (@justinsuntron) April 6, 2021
The reduction of 5.76 Million TRX with a value of $780,000 would help increase TRX’s value. Earlier this year the TRON community has adopted the TRON Proposal 51 and which was initiated by TRON Super Representative CryptoChain effective last Feb 11, 2021.
The TRON Proposal 51 includes the changes for setting 1 Bandwith at the price of 0.00014 TRX and 1 ENERGY at the price of 0.00014 TRX. It also provides a 5000 TRX limit for a single smart contract.
This Proposal 51 would still provide the TRON community a competitive and low network price compared to its main competitor Ethereum.
With the deflationary era takes place, this creates opportunities within the TRON blockchain as it continues to show its growth from time to time. TRON has been one of the most popular public chains for DeFi and recently with NFT developers.
TRON’s daily DeFi transactions have increased as much as five times and this makes them one of the busiest blockchain networks in the cryptocurrency industry.
What is TRON?
TRON is a blockchain-based decentralized platform that was founded by Justin Sun. TRON aims to create a free, global digital content entertainment system with distributed storage technology and allows easy and cost-effective sharing of digital content. TRON is dedicated to building the infrastructure for a truly decentralized Internet.
With TRX going into the deflationary era, asides from consolidating its value, this would also benefit all of the TRX holders worldwide and gives everyone a long-term assurance to the TRON community.
For more news and updates, see Tron Spark.