TRON (TRX) started surging in April, reaching a $0.9 trading price. Since then, it has been on the decline. However, It is very possible that once this trend bottoms up, we could see another rally to a higher position.
Tron is a decentralized entertainment content protocol based on blockchain technology that strives to construct a global way of providing free content. Tron lays out the foundation for distribution and subscription of content without the means of a third party source like Youtube. Like many other projects, it uses the decentralized distributed public ledger system to let users publish, store and own data and more specifically distribute autonomous content.This service empowers content creators. Tron has some promising partnerships with applications like Giro, Obike, and Peiwo. The team at the Tron foundation strives to create a decentralized internet, something that Justin Sun calls the web 4.0. This new web 4.0 will allow everyone to freely create content, websites, and applications, without relying on centralized services.
With Mainnet set to launch May 31st, and with the announcement about the virtual machine release on the 27th of May, Torn has several events and launches coming up that will play a significant role in upgrading their blockchain platform. Despite what some people think, these aren’t just little announcements set to stir up enthusiasm in the community. These partnerships are linking the crypto world with the normal financial environment, as some of their products are becoming very popular and appealing for the financial industry
Tron has several exchanges supporting its main net launch including:
- Coin nest
If you hold your TRX on any of these exchanges, you aren’t required to do anything but to have all your TRX on the exchange when the switch to main net occurs.
All this time throughout the big dip of Q1, TRON (TRX) has remained in the top 20 market capitalization which is very impressive considering it is one of the cheapest. The coin’s overall performance is high. TRON (TRX) has created influential partnerships with large brands and companies that are willing to invest and support its token.
When main net is launched, TRON (TRX) will leave Ethereum’s blockchain technology (ERC20) and become entirely independent.
Troy’s CEO Justin Sun, endorsed by renowned Jack Ma, the Alibaba Executive Chairman, is the man who has seen this coin through from its beginning, gaining momentum in marketing by starting a countdown regarding the event. Sun is one of the more well-known and trustworthy figures in the industry, as he does promotion like this and in return gets an enthusiastic community. Sun announced that TronVM v.0.1 (Virtual Machine) is going to be released May 25th. This virtual machine is capable of creating its own smart contracts and will allow the old TRON dapps built on the Ethereum platform to work on the main net without any problem. Developers who move from Ethereum’s to the Tron network will be apart of a rewards program. Exchanges have made it clear that Tron will face no inconvenience at all during the migration. While the TRON (TRX) project is still in its early stages, the future looks very bright as we could see exponential growth in the coming years.
The amount of token holders/wallet addresses for this coin quickly shot up past 1 million. While adoption is what we want, supply is only getting smaller and as this happens the price can, indeed, skyrocket.
TRON (TRX) is currently trading at $0.07 with no significant increase in the past 24 hours. Further upside movement is limited by the sloping trendline visible on the hourly chart. Tron enthusiasts will get a chance to snatch the driving wheel from bears and push TRX/USD to $0.08000 handle once this is broken.
Earlier in May, TRON (TRX) successfully airdropped 30 million tokens for the Ethereal Community. 30 million TRX tokens, worth about $1.7 million USD, were sent to a total of 602,881 addresses active Ethereum accounts.
“Our main goal at Q3 is to fully support third-party apps and provide third parties with stable and reliable system-level support, including high-performance pluggable smart contract virtual machines and optimized P2P network systems. In Q4, we will focus on cross-chain communication and privacy protection,” Sun has stated.
The crypto market is definetly experiencing some consolidation after the gains of April. Some experts have publicly stated they believe May will be the last time we ever see Bitcoin at $10,000 as adoption becomes widespread. TRON (TRX) is a contender to be one of the best performing coins of 2018. TRON’s roadmap for the rest of the year looks pretty spot on. The team has already proven to be one of the more transparent groups in the industry. The token itself has been performing very well since its ICO and the price of TRX is set to exponentially increase in the near future.