TRON’s Promising Future or Failure Prone Outlook: TRX Coin Price Spikes 11%
The Promising Future of Tron (TRX)
Lately, Tron (TRX) has been lighting up the crypto space, not only with its impressive market performance but also with the implementation of innovative development ideas. In March, the firm deployed its Testnet and recently followed up with the inauguration of the eagerly-awaited MainNet.
Despite the expectation that the MainNet launch would spur a rise in the value of TRX, the performance has been dismal. The price of the token has plummeted, with its owners deliberating on the economic cost of holding onto the cryptocurrency. However, the misery facing TRX could be short-lived, as the coin is prepping itself for a remarkable comeback.
The Role of Justin Sun
An integral contributor to the impending resurgence of Tron is the project's CEO, Justin Sun. Primarily, Justin is forging partnerships with prominent crypto exchanges and other similar enterprises. Additionally, Justin also updates the public on the developments of his efforts through his Twitter timeline. By doing this, Justin is grabbing the attention of crypto enthusiasts, a factor that is likely to influence the renaissance attempts by TRX positively. Most of TRX users believe in the token because it focuses on its longevity rather than its current market value.
Current Market Trends
At the beginning of April, TRX’s market value reached a record high ($0.101). Back then, many predicted that TRX was on the path to greatness. Contrariwise, the value has been on a downward spiral in recent times, with the prices ranging at sub $0.04. This, however, is understandable since the overall price of cryptos has been plummeting. Although the last few hours have been promising, heinous acts such as the Coinrail hacking incident are likely to affect the market adversely.
Notwithstanding the challenges mentioned above, the value of TRX is steadily rising, having reached $0.045 over the last 24 hours. While the improvement might be short-lived, the resilience displayed by TRX at a time when the market is undergoing incessant dips is indeed promising. It is expected that the coin will perform impressively once the crypto sector regains stability.
Moreover, the TRX team is regularly updating the technical infrastructure that supports the virtual currency. Regarding this, the TRX team offered a $10 million reward to any individual who reports a bug in the recently launched MainNet. Therefore, users are guaranteed that TRX will restore its respectable status once the technological transition period is completed.
As of now, the TRX team is testing the BETA version of the Odyssey blockchain platform. Upon the completion of the development phase, all TRX tokens will be transferred from the Ethereum-based ERC20 standard to the new blockchain. The transition is expected to take four days, starting from 21st June 2018. Furthermore, the coin will be listed on several exchanges, including the world's leader, Binance. Also, the BitTorrent user is likely to support TRX, primarily because Justin Sun recently acquired the file-sharing website.
Though the market is facing constant dips, TRX is still launching incentives that have significant promise. Considering the stiff competition in the crypto space, it is evident that Tron is likely to oust most of its peers and become on the leading digital asset investments.