TRON Price Analysis: Can TRX Be Back Among Top 10 Cryptocurrencies?
Tron (TRX), which is a $14 billion ICO, has surged phenomenally 3,650% in one month. This was driven by some great marketing by Tron founder Justin Sun. He was also mentioned in Forbes’ 30 under 30 in China and one of the 2017 Forbes “30 under 30” in Asia.
The other reason for this crypto to move up is due to John McAfee, who had praised the crypto on Twitter. He has his 500,000 followers and after that tweet, the price of TRX surged from $0.04 to nearly $0.29, and the TRX made it to the list of top 10 cryptocurrencies.
However, TRX after getting peaked at the $.27 on January 5th, had slowly started falling back at the $0.3 level. This is due to the plagiarism scandal related with its whitepaper. TRX’s volume at the Korean exchange also got excluded from CoinMarketCap.com suddenly.
Moreover, there was mini scandal. There was announcement by Justin Sun on twitter, that TRON had a deal with the “Chinese Netflix,” Baofeng, which have more than 200 million users as a video portal giant and has got 8 billion CNY listing in Shenzhen stock exchange. This announcement of the deal was misleading and the investors got annoyed.
TRON - Justin Sun Tweet
TRON (TRX) Price Chart
Coinranking.com
Therefore, TRX, who was the best performer in the first quarter of 2018, plunged and experienced all the returns eroded. Other cryptos have also fallen due to lot of bad news, which includes hacking attacks on the exchanges, the US regulation policy and Google’s announcement of banning cryptocurrencies related ads.
Further, cryptocurrency investors are also anxious about the upcoming G20 Summit during which world leaders could discuss their take on digital assets. The cryptocurrencies are falling further lower due to the expectation for stricter regulation.
Use of TRON
TRON creates distributed data storage, and in this system the content producers can directly access to TRX, which is the TRON coin paid by the users for the premium content. Further, through TRON high-quality contents can be created, thus the users can directly gain TRX rewards given by the system.
Lot of New Features added to enhance stability
Exodus is expected to go live on March 31st, 2018 and TRON’s Main Net launch update, titled Exodus will have lot of new features. Exodus Main Net will make TRON a top contender for the best-performing currencies in the crypto market.
The transaction fee will be reduced to almost negligible. The TRX-based transactions on Exodus will require the transaction fee of only 0.0001 TRX in the process, which mean TRX is the least expensive cryptocurrency to use in terms of fees.
TRON has planned to increase its scalability and bring it at par with the other scalable cryptocurrencies, by delivering 1000+ tx/s on the Exodus network. If TRON still continues to foray into the entertainment industry-disrupting technology, the number can reach up to 1000+ tx/s
TRON had exited from the Ethereum network onto its own platform for Exodus and has created a fresh space for the currency to exist
Overall TRON has made a platform for the success by the launch of Exodus, but large number of projects coming up to give stiff competition. TRON is trying to differentiate itself from other major of copycat currencies and weak projects that are weakening the industry. So the investors want that TRX goes back to $0.20 from $0.03 and come back among the top 10 cryptocurrencies list.