Is TRON (TRX) A Good Investment?
TRX has continued to perform poorly in the market, eroding the gains made after its testnet launch at the end of March. The bare truth is that Tron’s community expected a different trajectory in the coin’s price movements.
The project is about to enter a new phase in its development after it launched its Mainnet at the end of May.
With all that is going on, the one question a would-be investor will ask is whether Tron is still a good investment.
The answer lies in what TRON can possibly achieve going forward. Here’s why I believe, this emerging project could turn out to be a great investment.
For every project worth investing in, the team and what they set out to achieve constitute an important starting point. Tron has one of the strongest teams in cryptosphere.
Perhaps we should just say that of all projects out of China, TRX’s team is the pick of the best.
They have an extraordinary team sourced from the biggest tech companies and the whos-who in the country.
At the helm of the team is yet another bright mind in the shape of its founder and CEO Justin Sun. The team has been able to achieve a faster growth for the platform is less than a year.
The TRON team and Foundation are playing a very big role in the race to gain adoption and ultimately revolutionize the entertainment industry as well as the internet.
Every objective set out by the team has so far been delivered as expected.
The team is also securing several high profile partnerships that will be very critical in helping the crypto penetrate the highly lucrative entertainment industry.
Tron successfully launched their mainnet on May 31 and is in the process of migrating from the Ethereum network to its own blockchain. The project has one of the largest communities and boasts 100 million users.
After the launch of the Genesis block on June 25, “TRON will officially become a free, autonomous, and self-governed decentralized protocol with robust community consensus.”
It will be one of the top blockchains for developers.
Tron Foundation’s robust marketing and the ease of deploying dApps on the network will attract even more, growing the network and moving it towards global adoption.
Tron has garnered a lot of support over the last few months and is poised to see increased interest.
The coin is listed on more than 100 trading exchanges and is likely to end up as one of the biggest in the shape of Coinbase.
The TRX price
We’ve already established that TRON is a great project that is most likely going to achieve global adoption.
And we also know that TRX is attractively priced at the moment. At just $0.0437, the coin is a great bargain.
With expected growth, before long it will have risen to $1, maybe $2. And what if it hits $5 in a few years?
So, if TRX gains anywhere near what it did at the beginning of the year, it will have been a good return.
However, we know that it is capable of much more. Definitely, TRON is a good investment on the basis that its value is set to grow in the near future.
I should have linked this to the low price, but I feel it deserves to be mentioned separately.
Several platforms have engaged coin burns in the past, and some do it on a regular basis. The desired effect is always one: reduce the overall supply and ultimately impact prices.
TRON will burn 1 billion TRX worth $50 million to mark its official migration from the Ethereum network.
According to TRON Foundation, “the amount of TRX at the beginning of mainnet launch will be reduced to 99,000,000,000TRX, and the remaining 33,251,807,524 TRX held by TRON foundation will stay locked until January 1th, 2020.”
Although this isn’t huge enough, the decision to put over 33 billion coins under lock will definitely bolster confidence and improve uptake.
More demand over the next 2 years will see prices go higher. It may not seem so at the moment, but TRON (TRX) could be a very good investment.
The team, alongside the huge potential of the technology, will likely earn HODLers great returns.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your own research and/or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.