Summary
- Tron said via its official X account that it additionally purchased 175,507 TRX at an average price of $0.28.
- Tron said the purchase expanded its TRX holdings to more than 679.90 million, and that it plans to increase its holdings to enhance long-term shareholder value.
- Founder Justin Sun voiced support for the additional TRX purchase plan on X, saying “Keep going.”
Tron (TRX) has made an additional purchase of more than 170,000 of its own tokens. Justin Sun, the founder of Tron, says he intends to continue buying back the token.
Tron said on the 5th (local time) via its official X account, “We additionally purchased 175,507 TRX at an average price of $0.28.” Tron added, “(With this purchase) our TRX holdings have expanded to more than 679.90 million,” and said it plans to increase its TRX holdings “to enhance long-term shareholder value.”
Sun also backed the plan for additional TRX purchases. Posting on X the same day, he wrote, “Keep going,” referring to the buying.
Meanwhile, TRX is trading at $0.28 on CoinMarketCap, down about 2.2% from the previous day. That is a drop of about 4.8% compared with a week earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
