Tron (TRX) is now Home to 3,000 Wrapped Bitcoin (BTC)
2 min read
Quick take:
- There are now 3,000 Bitcoin (BTC) on the Tron blockchain
- BTCTRON is a type of wrapped Bitcoin on the TRON blockchain
- Bitcoin on the Tron blockchain is beneficial to yield farmers or those who want the value of BTC plus the efficiencies of Tron
Tron founder and CEO, Justin Sun, recently shared a new milestone on the TRON blockchain in the form of the Tron network now hosting 3,000 BTC in the form of BTCTRON: a wrapped version of Bitcoin. Mr. Sun notified the crypto community of this milestone via twitter and also added that BTCTRON now has 838 holders who have performed 8,128 transactions using the digital asset of BTCTRON.
At the time of writing, the holders of BTCTRON have increased to 876 and they have carried out a total of 8,831 transactions using BTCTRON.
Below is the tweet by Justin Sun which includes a screenshot of the TRC20 version of Bitcoin (BTC) on the Tron blockchain.
3000 #Bitcoin on #TRON! 838 hodlers and 8128 Txns! Get #Bitcoin on #TRON at @Poloniex! If you are interested in supporting #BTC contact our team asap! pic.twitter.com/7kbnqp6Nl7
— Justin Sun
(@justinsuntron) October 10, 2020
(@justinsuntron) More on BTCTRON
In early September, Justin Sun hinted at launching a wrapped version of Bitocin on the Tron blockchain for use in the Tron DeFi ecosystem. His hint became a reality a month later when Poloniex announced on the 1st of October, that it was the first exchange to support Bitcoin on Tron – BTCTRON.
Users of Poloniex can opt to exchange their Bitcoin (BTC) for BTCTRON using a new swap feature on the exchange and directly from their Poloniex wallet. There are no fees charged when swapping Bitcoin to BTCTRON or BTCTRON to Bitcoin. Additionally, BTCTRON’s value is pegged to that of Bitcoin (BTC) in a 1:1 ratio.
A wrapped version of Bitcoin on the Tron blockchain allows users to transfer the value of Bitcoin (BTC) on the efficient network of Tron. This also means that the TRC20 version of Bitcoin can now be used for yield farming on the growing DeFi platforms in the Tron ecosystem.
