Although a significant rise in cryptocurrency prices has yet to materialize, the recent stabilization of decline is somewhat encouraging. Just a few days ago, Justin Sun, the founder of Tron, teased the community with an announcement about a “great, big, massive thing.” Despite skepticism from some investors who thought he was joking, Sun officially declared their migration to the Solana $132 network.
Tron and Solana
TRX is now available for trading on the Solana network under the contract address GbbesPbaYh5uiAZSYNXTc7w9jty1rpg3P9L4JeN4LkKc. Despite having a circulating supply of $11.6 million, TRX could attract interest due to the robust DeFi infrastructure of the Solana network.
Is this announcement truly significant? That remains debatable; however, Justin Sun stated:
“TRX on SOL is live now! All liquidity is ready! LFG
Contract Address (CA): GbbesPbaYh5uiAZSYNXTc7w9jty1rpg3P9L4JeN4LkKc
No account hacks, this is a real collaboration with SOL, haha! TRX can now be purchased through the SOL chain!”
The TRX price, however, did not seem to react significantly to the announcement.
Current State of Cryptocurrencies
Bitcoin (BTC) $84,368 is hovering around $85,000, with Trump releasing a video message regarding cryptocurrencies today. He reiterated previous statements, emphasizing the need for Congressional support for stablecoin regulation.
TON announced it has secured $400 million in investments. Strong data regarding the U.S. housing market was reported. Considering Powell’s recent implication that the effects of Donald Trump’s tariffs are exaggerated, the supportive data is quite favorable. Although positive for stocks, BTC was still seeking support as this article was being prepared.
In the EU, Sefcovic from the European Commission indicated plans to postpone the first tariff package against the U.S. until mid-April. Normally, additional taxes would have been imposed on certain key products at the beginning of the month, with a subsequent tax expected to exceed $20 billion in impact by mid-month. As it stands, negotiations appear ongoing, and a softer U.S. tariff for the EU could be seen on April 2.