Tron (TRX) Price and Company Overlook After 1 Year
Justin Sun, one of the bright minds behind the cryptocurrency, Tron, had a few reasons to celebrate using his Twitter. The first was to celebrate his birthday, the second was to celebrate the 1 year birthday of Tron, which he launched on the same day.
The third was to celebrate how the year turned out to be more than just a crowded hour for the two:
1 year ago today, I gave myself the best birthday present–launching #TRON. It's been exactly 1 year. Looking back, it's amazing how one simple idea took root & grew. We are now top 10 crypto, a community of 2M, bringing 100M BT users a better UX. 2018, GO #TRX! $TRX pic.twitter.com/EzoqQwmOoS
— Justin Sun (@justinsuntron) July 30, 2018
Turned out to be a good day for many of the investors involved in the project too, as it managed to cover a lot of ground:
- 100 Billion tokens were minted for the ICO
- The total amount raised was $70 Million
- Accepted cryptocurrencies were Bitcoin (BTC) and Ethereum (ETH)
- Initial token price of 1 TRX was $0.0019
So, when we think about the investors behind Tron, a few questions do crop up: like how much of a return on investment did those that bought into Tron at its very early stages get?
Comparing the value that TRX had during the time of its ICO, which was 0.0019, and how much it is as of August 2018, which is 0.035, the overall return on investment of nearly 1,800%.
Even going back as far as the span of time when cryptocurrencies were undergoing a major bearish reversal, TRX had managed to hit a peak of 0.25. Effectively, if you were an investor who bought in at the ICO value of Tron, and decided to sell here, you'd have walked away with over 18,000% worth of a return on your initial investment.
Overall, I think it's safe to assume that there are a number of reasons that Justin Sun can celebrate exuberantly, considering that he's created a cryptocurrency which has guaranteed one of the highest levels of return over such a small window of time.
What's more is that Tron is only expected to get bigger and better, with three factors playing into increased levels of use and volume of users.
The first being the introduction and rollout of the Tron Mainnet that took place earlier this year. The second being the later acquisition of BitTorrent and the final one being the admission of TRX as a means of payment through the multi-billion dollar pornography company, Pornhub.