Tron (TRX) Added to Binance-Owned Trust Wallet

The Trust Wallet, a mobile cryptocurrency wallet that supports Ethereum’s ether along with various types of tokens and crypto collectibles, has recently added support for TRON’s TRX token.

The move, according to a Medium post, means the cryptocurrency wallet and decentralized application (DApp) browser now supports Ethereum (ETH),  GoChain (GO), TRON (TRX), VeChain (VET), Wanchain (WAN), Ethereum Classic (ETC), and the POA Network (POA).

By the end of the year, Trust Wallet is also set to add support for cryptocurrencies like bitcoin, bitcoin cash, and litecoin. The development comes shortly after Binance, the TRON Foundation, and several other cryptoasset projects launched a portal for charitable donations, the Blockchain Charity Foundation (BCF).

The Trust Wallet has earlier this year added VeChain staking support to its platform, which means VET holders are able to earn VTHO directly from their wallets. The VTHO token is also distributed to VET holders on Binance once per month.

As CryptoGlobe covered, Binance acquired the Trust Wallet back in July, in its first-ever acquisition. The wallet supports over 20,000 Ethereum-based tokens, and its features include locally storing users’ private keys, functioning as a Web 3.0 browser, and having its source code audited by experts.

At the time Binance’s CEO Changpeng Zhao noted users control 100% of their funds. He added:

Now we have both a decentralized and centralized solution for custody.

According to the cryptocurrency exchange the Trust Wallet built a “reputation for security and has held itself to the guiding principles that it will never access user wallets., hold private keys, and ask for personal information.” The acquisition saw the Trust Wallet’s team “retain the autonomy and freedom to develop the core product while benefiting from the increased synergy from Binance, include the broad user base and the upcoming DEX.”

Binance has been working on a decentralized cryptocurrency exchange (DEX) that’s set to enter a public beta phase by the first quarter of next year. Binance’s native BNB token is set to be used as the game behind the trading platform.

Notably, cryptocurrency acquisitions surged over 200% this year, despite the ongoing bear market. This, according to a report compiled by JMP Securities, that used data from analytics service PitchBook.

Derivatives Trading Platform Synthetix (SNX) Is up Over 5,000% Since 2019

Michael LaVere
  • Derivatives trading platform Synthetix is the best performing DeFi product since April 2019.
  • Synthetix's native token SNX has appreciated more than 5000 percent over the last two years. 

The little-known crypto-asset Synthetix (SNX) is the best performing decentralized finance (DeFi) project of the past two years. 

According to a tweet published by popular crypto analyst Alex Saunders, SNX has been the best performing DeFi asset since April 2019. Saunders claims that Synthetix has appreciated 5000% over the past two years and was one of the top two ETH-based projects he has been following since Edcon Sydney 2019. 

SNX’s price took off in June, from $0.79 at the start of the month to its current trading price of $2.73, representing a 245% increase. 

Synthetix is a derivatives trading platform built on the ethereum blockchain that allows users to trade on stocks, crypto and other commodities. Users are required to exchange bitcoin or ethereum for SNX tokens in order to participate in trading. 

The exchange’s native token can be locked as collateral to produce “synths” such as a synthetic U.S. dollar (sUSD), which in turn can be used to place bets on rising and falling asset prices. 

Synthetix also operates a reward program, where users of the exchange can stake their SNX tokens as collateral in order to receive additional benefits.

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