The cryptocurrency exchange of OKEx began margin trading for the Tron (TRX) cryptocurreny just yesterday, January 10th, at 4am (UTC). The announcement went on to state that the available leverage was as follows.
1. Launch of spot margin trading for the pairs TRX/USDT and TRX/BTC (3x Leverage)
2. Support of TRX for OK PiggyBank
About OKEx’s PiggyBank Service
To note, is that the announcement by OKEx also included TRX being available on the PiggyBank service of the exchange. Back in late November, OKEx announced that it was launching this new service that allows its users to earn interest on spare digital assets that they are not actively trading. Known as OKPiggyBank, users earn daily interest on the said assets The service can be found in the ‘Account’ tab on the user interface.
There is no minimum limit for using the service and interest starts accruing on the second day. Rewards will start being credited on the third day. There is also an ‘Auto Balance Transfer’ function that automates the process of transferring funds from the user’s wallet to the PiggyBank.
Tron’s Recent Run in the Markets
The cryptocurrency of TRX has had an impressive run in the market since it was announced that BitTorrent was launching the BTT token on the network. Many crypto enthusiasts then started trading the digital asset for their was additional news that there was going to be a BTT airdrop for holders of TRX.
Since then, TRX has risen in value from $0.019 on the day of the BitTorrent announcement (January 3rd) to a 2019 high of $0.035 on the 10th of this month. In the process of exhibiting such gains, TRX managed to edge out Bitcoin SV from the number 9 spot.
Tron would later temporarily take the number 8 spot from Tether (USDT). However, Tron dropped back to 9th position after its valued declined to current levels of $0.025 after the entire crypto markets plunged by 11% in a single day.
Perhaps it was this impressive run by TRX, that OKEx decided it was a good idea to open margin trading for the digital asset for traders to capitalize on the action.
What are your thoughts on OKEx adding margin trading for TRX piared with BTC and USDT? Please let us know in the comment section below.
Disclaimer:This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.