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Tron price analysis: TRX/USD bulls are struggling with critical price area at $0.0400 on its independence day

FX Street
Published date:
  • Tron price on Tuesday is trading in negative  territory, nursing losses of some 1.5% in the second part of the session.
  • The Tron foundation will be completing a large scale TRX token buy-back plan over the coming year to 2020.

 

The Tron CEO and founder Justin Sun was recently tweeting to the community, noting that today marks Tron’s (TRX) independence day. It was this time last year when Tron migrated off Ethereum blockchain as an ERC20 token, to the launch its own Tron mainnet.

Tron foundation in an official blog post named ‘Announcement on $20 Million TRX Buy-back Plan and 2020 TRX Holding Plan by TRON Foundation’.

The detailed program is going to have the widest coverage in the secondary market. It will last for a year and will include buying back TRX from the secondary markets in batches with no less than $20 million.

 

TRX/USD daily chart  

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