The TRON Foundation will buy back more than $ 20 million TRX tokens. With this it wants to improve the “activities in the community and market stability”. The organization writes this in an announcement on Medium which was published on 25 June.
TRON is a blockchain platform that strives for the decentralization of the entertainment industry. The cryptocurrency saw a significant rise in recent days, but fell again along with the rest of the cryptomarket.
In the Medium post, the TRON Foundation, the organization behind the platform, announces a buy-back plan. With this it wants to stabilize the TRX course , but also to show that it believes in the future of the platform.
The plan is said to last for a year and has already begun. A total of $ 20 million worth of TRX will be bought back from the market.
Another announcement that the organization announced in the message is the release of a new TRX. These are currently stuck with the TRX Foundation, but will be released on January 1, 2020. The TRX Foundation emphasizes that it wants to increase the amount of TRX it has “to show that we have confidence in the development of the TRON ecosystem.”