After the successful launch of new token Tron mainnet, the Tron Foundation has burnt its previous tokens to increase the supply of mainnet in Ethereum Network. About 5 $ billion tokens were burnt by the foundation on the 13th of September. This burn was made to increase facilitating the movement of the new Tron token.
After June 25, this was the fifth time in the row that ERC20 tokens are burnt by the foundation. Tron officials have commented that this process of burning is still on and the foundation will burn more token in future so that all Tronics will move to mainnet.
After the burning, the price of Tron token has shown the increasing trend with the 8.73% rise, which triggered the market capitalization to increase up to $1.3 billion by making it the third largest digital currency. Furthermore, the foundation has tried to increase the usage of its token by adding more customers to its mainnet network. Most of them are from uTorrent. This step taken by the foundation will lead them to new heights.
Another important step taken by Tron foundation is their partnership contract with Crypto $ Proud, a crypto lifestyle store. This will serve as the outlet for Tron apparel, accessories, its basic collection like T-shirts, phone cases etc. The foundation will provide new products to the store soon.
