TRON Foundation Continues to Buy Its Own Coins
TRON Foundation continues its buyback plan, which it announced back in May this year.
TRON founder Justin Sun said:
"In July 2019, TRON announced the $20 Million Buy-Back Plan. The 1st phase of 2019 as set out in the plan. Thank you for your support of #TRON. Next phase of the #TRX buy-back plan will be announced in due time based on development of TRON ecosystem.”
TRON Foundation developers explained that coins are needed to accelerate network development, launch new products and support the TRX exchange rate. The company will continue to buy TRX coins. However, the buyback deadlines were not disclosed.
Note that the buyback did not prevent the asset from falling in price; the coin rate continues to decline.
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