Tron Blockchain Launches CryptoPunk Lookalike, Tpunks

7 May 2021 | Updated: 7 May 2021

Just as Ethereum had CryptoPunks as its first digital collectible NFTs, Tron (TRX) blockchain has announced Tpunks. For just 1000 TRX, users can now mint one of the first MFTs on Tron.

The release of Tpunks came with the usual fanfare. Just as with the release of Binance Punks on the Binance Smart Chain, Tpunks is using assets from the original CryptoPunks collection. While some claim that the release of Tpunks is riddled with plagiarism, others argue that this project adds value and legitimacy to the original punks on the Ethereum blockchain.

Tpunks are developed as TRC-721 tokens, the newly implemented token standard for NFTs on the Tron blockchain. Reports show that Tron has released 10,000 Tpunk tokens, just like the original CryptoPunks. The new tokens comprise nine aliens, twenty-four apes, eighty-eight zombies, eleven Justins, and other characters.

In December last year, Tron announced its first non-fungible tokens standard, TRC-721, noting that all tokens will be unique. Creating a standard interface allows applications to monitor and transfer NFTs on the Tron network.

NFTs, on any blockchain, typically contain owner ID, rich metadata, safe file links, and other identification information. All this information is recorded in the tokens smart contract, making each NFT unique.

Key TRX Levels to Watch — May 7
Following its prolonged consolidation between $0.1350 and $0.1175, the TRX has broken into a bullish surge towards its recent all-time high at $0.1808. The seventh-largest cryptocurrency is trading along an ascending channel but is currently battling to stay above the $0.16 psychological support.

TRXUSD – Hourly Chart

That said, we expect to see a bounce off the $0.16 support to the $0.17 level over the coming hours. That said, a dip from the current price should get additional support from the $0.1560 support.

Meanwhile, our resistance levels are $0.1650, $0.1700, and $0.1750, and our support levels are $0.1550, $0.1500, and $0.1450.

Total Market Capitalization: $2.37 trillion

TRON Market Capitalization: $11.7 billion

TRON Dominance: 0.49%

Market Rank: #17

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.