TRX coin burn rate is now at a new milestone this year as a deflationary coin.
Tron is a popular Proof-of-stake model-based blockchain network, which is known to provide high-scale crypto funds transactions. Trx is a Native coin of the Tron blockchain and this coin is standing at 7th rank, in terms of 24 hours global trade volume.
The current price of the TRX coin is $0.0627 and this is 36% down over the one-year time frame.
On 17 October, The official Twitter account or Tron network explorer announced that TRX deflation stated reached 9.6 billion #TRX, in a total of 50 weeks.
It means, the birth new token over the burn of the old TRX coin supply plunged. It is happening under a TRX coin-burning mechanism, which was introduced after a community vote proposal in Feb 2021.
Tron (TRX) as a legal tender in Dominica
On 12 October, Justin Sun, founder of Tron blockchain, announced on Twitter that TRX and other TRX-minted coins are now can be used as a medium of exchange in the commonwealth of Dominica.
Also, the Tron team established a partnership with the government of Dominica to design a blockchain to launch the national digital currency DMC coin.
Last week Tron founder joined Huobi Global crypto exchange as a member of the global advisory board. A few reports claimed that Justin may be the core buyer of the Huobi crypto exchange but Justin denied those reports.