The other day I made a post about Binance promoting TROY with a giveaway of a Tesla Cybertruck. I was curious to understand what could a trading volume for TROY be and what this whole product is about. Here's what I found out.
For starters, it appears that Binance's promotion did the trick to increase TROY's trading volume. On December 25th the volume was over $29 million USD -- a spike, comparing to the last week and a similar volume when the coin was originally introduced. The price, however, remains flat.
The whitepaper and the website (troytrade.com) associated with the product describe Troy Trade as a "a global prime broker specialized in crypto trading and asset management." The team appears to have discovered a gap in the cryptocurrency market structure which it aims to fill by the of the next year:
Namely, Troy Trade is aiming to become take a place of Cryptocurrency Prime Broker. An visual from the whitepaper:
Is that a trojan-horse in the bottom right corner that the upcoming platform is using for its symbol/logo?... Nevermind. So, the "Primer Broker", the way I read it, will be all-in-one crypto financial institution. And, I suppose, TROY coin would be for Troy Trade what BNB is for Binance.
Another beautiful visual from the whitepaper demonstrates this clearly - TROY's ambition is to surpass Binance and Huobi.
Whitepaper conveniently illustrates the current trading volume of Binance, Huboi and the rest of the top ranging exchange platforms.
Mind boggling numbers... Is TROY planning to outperform all?