TRON (TRX): There Are Exciting Times Ahead
The tweets keep flying in: the TRON (TRX) main net launch has been accelerated and it’s now scheduled for May 31, 2018. The test net comes at the end of this month, 31st March.
If you are a TRON holder, these are surely exciting times. Or so, it seems. The price of TRX has continued to slide, trading at $0.02, and miles away from its all-time high of $0.30 two months ago.
While it shouldn’t be said of any cryptocurrency; that this is the best, what we can say about TRX is that it badly needs the main net. If it launches successfully and moves from the Ethereum blockchain, well, couldn’t that be a better reason to be even more optimistic?
Justin Sun and the TRON team have a lot to do, before the testnet and more importantly, before the main net launch. Tweets like this one are all good for PR, but TRX needs to be doing better than the $0.03 it is trading at today.
First up, the test net slated for the end of March 31, 2018. TRON has been variously referred to as a pump-and-dump coin. It shouldn’t carry the same tags to the test net, because it could be bad for its market value. Here is why- the TRON Foundation has been forced to come out and alert the public about fake accounts circulating falsehoods about the crypto.
The main point in that tweet was the “thank you for your cooperation and strong support” comment. TRON (TRX) needs its community to continue believing in it. And judging by the daily trading volumes, and discounting claims of frequent pumps, then it’s easy to tell that TRON has support. I stand to be corrected here, but I would like to believe that TRON’s great blockchain product is what attracts the investors.
What does getting on Upbit and Bittrex mean for TRON?
Well, it’s simply that TRON is now listed on most of the major exchanges.
The addition of TRON to the trading pairs at Upbit and Bittrex means that TRON will be available to many of the investors who would wish to invest in it. One of the main concerns from the TRON community for quite a while now has been the apparent lack of drive towards adoption for the TRX coin.
But the two exchanges provide a timely advantage for TRON as they are in the top 7 cryptocurrency exchanges by volume. It should translate into increased TRX trading, improve investor confidence, and generally make it available to new adopters. The development also has the potential to endear TRON to the wider crypto community. It is also well placed to be many an investor’s outside chance addition to their portfolios.
For the sheer volume of TRX (it’s about 320 million TRX daily), TRON should be able to capitalize and ensure the developer team has the test net up to speed. We know about TRON Dogs and how popular is becoming. However, the TRON Foundation and Justin Sun, or whoever is overseeing the upcoming test net should take note of two things: transaction times and a fee charged on the network.
Emphasis is on the test net to be successful as a selling point for the Main net launch later on in the year. A cryptocurrencies utility value has a direct implication to the overall valuation of the platform. It is the usability of the TRX coin that will make TRON a viable product for investment partners.
And therefore, it is paramount that the test net should deliver.
According to sentiments from Lucien Chen, TRON’s test net will accommodate the running of a full node, enable deployment of decentralized and customized digital assets, enable its users to send and receive transactions, and be able to vote. Lucien, who is the director of technology at TRON, fell short of saying that this is as good as it gets.
These products need to work for TRON to make the Main net appealing to investors.
Beware the whale
While the launch of both the test net and the main net, and the listing on two of the biggest exchanges is all good news, TRON still has much to offer. Investors out to make a buck or two out of TRX don’t have that luxury at the moment. It means many will continue to hold on to those bags.
Even more worrying is the notion that TRON (TRX)’s huge circulating supply of over 65 billion TRX is fodder for whale games. If the TRON Foundation knows what’s going on, then this is the time to put its house in order. For the average investor, make TRX your long-term hold if you can.