of Tron founder Justin Sun in his statement, of Binance.US He said that his plan to delist Tron next week will not affect the TRX price.
Justin Sun Says TRX Delisting on Binance.US Will Not Impact Its Market
“I would like to point out that this has a relatively minor impact on the TRX market as the Binance.US trading volume is less than $2 million per day,” Sun said. “The current total trading volume of TRX is approximately $400 million per day.”
Binance.US has announced that it will delist TRX on April 18 after a review to ensure that existing tokens “meet the standard of excellence we expect.”
The exchange did not provide a specific reason for the delisting, but said several factors led to such decisions, including trading volume, liquidity and the regulatory situation in the United States.
Last month, the US Securities and Exchange Commission sued Tron and Sun for offering and selling two unregistered crypto tokens, TRX and BitTorrent’s BTT.
The regulator also claimed that they manipulated TRX prices between April 2018 and February 2019. Sun tweeted at the time that the case was “lack of merit”.
Sun said that while TRX’s delisting on Binance.US may not affect the coin’s market, Tron is still “actively in contact” with the exchange “to understand the reason for the delisting and see how we can relist.”
TRX, the sixteenth largest coin by market cap, is trading at $0.06408 at the time of this writing.
*Not investment advice.
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