Tron (TRX): Why Believe Everything Would Be OK Next Month?
TRON (TRX) hasn’t lived up to expectation and its performance isn’t anywhere near what was anticipated when it launched its main network. In fact, the crypto has lost value consistently since the then.
One thing then springs to the minds of the investor- will TRON live up to the expectation and rally to the top? It’s difficult to concisely say what happens to a crypto in the future. However, for TRX, there are reasons to believe everything will be OK in the coming months.
Why should you believe that Tron will be flying in July?
The overall market sentiment
Q2 hasn’t just been tough for TRX; it hasn’t been great for most cryptocurrencies too. The mini-recovery in early May has been anything but false hope. The top cryptos have struggled, the bearish signals lingering longer than expected. And since coins like TRX are greatly influenced by market trends, prices have swayed sideways and downwards.
For example, Bitcoin is down by 7% over 24 hours; ETH is down by 7.5%, while IOTA is 9.59% in the red. The expectation is that the market, in general, will improve and once the bears are pushed aside, TRX should gain value as expected.
Experts and market analysts have also indicated that the market should see an upturn in the next one or two months. As one of the most promising coins and with the most passionate communities, TRX should see a surge in interest as soon as sentiment begins to head north. TRON’s decline, therefore, shouldn’t be taken in isolation.
Projects on TRON to drive interest
The TRX token migration will be undertaken towards the end of June. Thereafter, the Super Representative elections will be carried out to usher in TRON’s “independence”. While these two events will significantly buoy the platform, imminent projects and partnerships carry the greatest weight.
At the moment, TRON is already in partnership with a number of projects in the gaming industry that is going to use its platform. Game.com promises to be huge for this coin given the number of projects that could launch on it.
Already several games in the pipeline and one game out on the blockchain is Cryptobytes. This game focuses on the virtual farming niche. It allows players to compete in growing crops and rearing farm animals. They also own farm machinery.
One thing is that the game could go viral anytime, driving interest to the roof. The interesting part of Cryptobytes is that winners earn rewards in the form of actual TRX coins.
The implication is that a huge number of players will be motivated to participate in the game. An influx of such games will form a part of the channel towards increased use of the token. In the end, the value of the coin gets positively impacted leading to gains.
TRX’s increased presence and demand
It is perhaps one of the reasons the coin will gain its momentum quicker than it is expected in the current circumstances. TRX is already one of the most traded coins in the market with daily trading average volumes of more than $190 million.
In the aftermath of the Mainnet launch, an increasing number of exchanges and platforms are listing the token. In the first week of June only, TRON has been added to over six trading and exchange platforms. These sites include exchanges like CoinEgg, CoinEx, BitForex, Indodax, BitPro, Max Exchange, and Tokenomy.
In addition, the crypto recently partnered with Shift Markets- which will also provide added exposure for the coin. They add to the over 70 different markets that list the token.
More exposure means increased visibility and accessibility and eventually increased demand and usage for the token.
TRX prices today
Tron is the 10th largest cryptocurrency by market capitalization. It has rallied into the top 10 riding overwhelming support and aggressive marketing by the team. Although some element of hype has driven its value before, upcoming developments mean it could gain value based on platform strength and not mere speculation.
TRX is trading at $0.048 and is under great selling pressure. It has dropped by 11% and 21% over the last 24 hours and 7 days respectively. Its total market capitalization is $3.1 billion and has seen about $336 million worth of its coins traded in the last 24 hours.
TRON’s prices may be on the downtrend, but it has the potential to bounce and reach values around $1 in 2018. TRON (TRX) has a great blockchain idea behind it; a great team of developers and very ambitious CEO. These factors will also continue to play a role in its future.