St. Maarten Adopts TRON as Legal Tender, TRX Price Rises 2%

• St. Maarten announced its plans to adopt TRON as a legal tender, causing the cryptocurrency’s price to increase.
• TRON founder Justin Sun shared the news, noting that the step was taken to increase blockchain adoption globally.
• TRX was quick to react and registered gains on its daily chart, with its one-day price volatility and social volume both increasing.

St. Maarten, a Caribbean island nation, recently announced its plans to adopt TRON as a legal tender, causing the cryptocurrency’s price to react positively. The news was shared by Justin Sun, the founder of TRON, who noted that the move was made to increase blockchain adoption globally.

TRX, the native cryptocurrency of the TRON network, was quick to react accordingly to the news. According to CoinMarketCap, the price of TRX increased by 2% in the last 24 hours, bringing its market capitalization to over $5.7 billion. The network’s one-day price volatility also registered an uptick, likely due to the recent price gains. Additionally, the network’s social volume also went up, reflecting its increased popularity.

The decision to adopt TRON as a legal tender was made by the Leader of the United People’s Party, MP Rolando Brison. Brison noted that working with the TRON Protocol would give St. Maarten access to its rapidly expanding and inclusive global ecosystem, which would help boost the island’s appeal to foreign travelers and ultimately, the local economy. He added that “allowing cryptocurrency to continue totally unregulated in St. Maarten is extremely risky, and we have to be proactive”.

TRON is a decentralized blockchain protocol that was founded by Justin Sun and has a mission to “decentralize the web”. The network is home to a variety of blockchain applications and decentralized finance (DeFi) protocols, and is one of the most popular networks in the world.

The news of St. Maarten’s adoption of TRON as a legal tender is yet another milestone for the blockchain network. It is a testament to the growing popularity of cryptocurrency and blockchain technology, as well as TRON’s commitment to increasing its global adoption.