As the launch of Justin Sun-led Tron’s Mainnet is approaching, the cryptocurrency exchange Gate.io has announced the suspension of withdrawal and deposit of Tron's native token - TRX - from June 25.
The exchange further detailed that the asset swap will be done at a ratio of 1:1 for all TRX token holders.
The anticipation of Tron’s mainnet activation among the community has significantly affected the market as TRX tokens are maintaining a bullish momentum in a downward inclined market. The coin appreciated 1.5 percent in the last 24 hours, while in the same period, the entire market capitalization went down by more than 10 percent, as per coinmarketcap.com. On the weekly chart, Tron's value appreciated by 12.4 percent, a massive figure compared to Bitcoin ’s 1.8 percent.
Expanding support
Gate.io has also migrated the ERC20 EOS token to the mainnet assets amid the launch of its mainnet a week ago. After EOS' withdrawal and deposit freeze on June 12, the exchange resumed services today. It also participated in EOS’s mainnet activation voting process as it holds two to three percent of all circulating EOS tokens.
Moreover, EOS is one of the leading assets of the exchange as it registers around 15 percent of its trading volume from EOS trades - more than 12.5 percent in last 24 hours. TRX also holds a substantial amount with more than three percent in the last 24 hours.
Gate.io is Cayman Island-registered exchange and provides more than 300 trading pair options to its customers. Most of the coins are listed against USDT. However, it also provides options against BTC and ETH and a hand-full against QTUM.
