TRON (TRX) reaches 4 billion network transactions


The cryptocurrency market may seem to be mired in a rut, with its market capitalization firmly below the $1 trillion level, but some of its assets, such as TRON (TRX), are experiencing price increases and reaching new heights in other areas.

According to TRONSCAN statistics acquired by Finbold on October 10, the total number of transactions on the TRON blockchain just reached 4 billion, adding 4,812,800 transactions in the preceding 24 hours alone.

It is also noteworthy that TRON’s total value locked (TVL) has surpassed $12.5 billion and the number of accounts generated on the network has hit 115 million, about two months after TRON became the second-largest public chain by stablecoin market capitalization.

Justin Sun, the creator of TRON, is said to be the true buyer of the cryptocurrency exchange Huobi, maybe with the assistance of Sam Bankman-FTX.

In particular, Huobi claimed on October 8 that its controlling shareholder business had transferred all of HuobiGlobal’s shares owned by About Capital Management’s fund, but many sources informed WuBlockchain that Justin Sun was the primary investor in this fund.

Despite Sun’s denial, he declared on his official Twitter account that he had been appointed to Huobi’s Global Advisory Board, as verified by the cryptocurrency exchange. As he said:

According to WuBlockchain, FTX and Justin Sun have initiated a discussion with Huobi founder Li Lin, who was seeking a $3 billion value for his controlling ownership in the exchange. According to speculations, FTX has made investments to aid Justin Sun with this acquisition.

Also Read: Brazil corporations disclose record crypto holdings

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