Justin Sun Proclaims Tron (TRX) As The Best Digital Currency For Bakkt - Today's Gazette - Cryptocurrency, Bitcoin News
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Justin Sun Proclaims Tron (TRX) As The Best Digital Currency For Bakkt

Justin Sun Proclaims Tron (TRX) As The Best Digital Currency For Bakkt


Justin Sun Proclaims Tron (TRX) As The Best Digital Currency For Bakkt

Founder Justin Sun has again flaunted the sophistication of Tron (TRX) blockchain technology by telling Bakkt, a federally regulated market for digital currencies that the cryptographic project is sure an ultimate choice for it to list.

In a tweet which began as question, Bakkt was asked if they would be adding other Cryptocurrencies soon.

In response, the platform designed to empower consumers and institutions with frictionless buying, selling and storing digital assets, Bakkt, noted that they would surely consider additional contract based on feedbacks from customers.

Afterwards, CEO Justin Sun took up the message with a retweet where he stated that TRX token would be the best choice for Bakkt.

While the present market situation remains a psyching issue for investors, observers have proclaimed that the launch of the platform, Bakkt, would likely be a redeemer of the situation. They claimed Bakkt would help increase the liquidity of Bitcoin and apparently its capital.

Bakkt is Expected To Increase Bitcoin (BTC) Value

Bakkt is a firm owned by the New York Stock Exchange. The platform announced it is postponing the launch of the much expected Bitcoin Futures trading till late January 2019.

In a Twitter update, Bakkt stated that Bitcoin is their major focus due to its high liquidity, customer demand, and classification as a commodity by the US Commodities and Futures Trading Commission (CFTC).

Although, the price of Bitcoin has been falling for some time now, it still remains the most widely used and known cryptocurrency. This is the reason Bakkt decided to first go for the digital currency before any other.

Bakkt, however, postponed the launch to January 24, 2019. This, as contained in a Medium post by the CEO at Bakkt Kelly Loeffler, is caused by the delay in regulatory approval from the CFTC.

Experts in the cryptocurrency space have been praising Bakkt for the fact that the idea will heighten the use and demand of cryptocurrencies.

Bart Smith, the head of digital asset at Susquehanna, stated that a lack of liquidity in BTC markets created a room for Bitcoin’s reduction in price which is caused by Bitcoin Cash hard fork and seemingly unending hash power war.

However, according to Smith, the advent of Bakkt, ICE, and Fidelity into the digital currency market could reduce BTC price fluctuation by increasing the liquidity, which would lead to a rise in capital.

Also READ  Tron (TRX) and BitTorrent (BTT)’s Justin Sun Donates $250K To VoiceYourLove Campaign On ALS, As Binance Pledges $150K

Freddie is a professional journalist and feature writer. He participates on various movements that enable communities to initiate more in-depth understanding on essential topics. Now, he's part of the crypto writers pushing for mass adoption in Luxembourg with their writing and expertise. He is now a full-time contributor to TODAY'S GAZETTE.Email: freddie.miller@todaysgazette.com

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