TRON (TRX) – Test Net Launch Still Bullish
TRON, the foundation that wants to decentralize the web and protect user privacy and data with their cryptocurrency coin TRX – currently ranked at #14 on the charts of cryptocurrency market capitliizations – has left investors with high expectations. However, this is simply because of the high performance of their coin. While many wish for TRX to go up in value from its current trading point of $0.03 cents, experts will remind you that the coin is still fairly new to the market and that it has come a long way from its initial ICO price only a few months ago. Soon, the masses will learn how revolutionary this technology is that sets out to give us, the users, ownership of our own content and data.
With many people wondering whether or not Bitcoin has hit its final bottom of the 2018 crash, others believe it may continue to go even lower. If now isn’t the time to start taking major positions in the market, though, when is? Tron specifically suffered hard from the most recent dip. With a bloody first quarter of 2018, it is possible that we can start seeing price surges leading into May.
The Test Net Launch
Many people believed that Tron (trx) was going to see a massive increase on March 31st because of news of the test net launch and coin burn; but as March came to an end, the crypto coin seemed to be consolidating after a nice price surge the week before, leading up to the launch. This is something that can happen when big news is announced early. When enthusiastic investors here news of a beneficial rumor, they will buy in anticipation of the event. Technically, news of the test net launch did lead to a small surge, although it didn’t happen on the day of the test net launch as some investors anticipated. Tron hit a cool $0.05 cent mark last week before going back to the stagnant $0.03 level it is at now.
Announced via Periscope – of which over 100k people joined, the Test Net was considered to be a crucial step into Tron’s 2018 roadmap. While Tron has consistently been a cryptocurrency with extraordinary amounts of trading volume, it’s evident that the currency is going to need new money in order to go further. The Main Net is set launch on May 31st.
This is what the founder of Game.com, Xe Lu, said about TRON:
“When a person is able scale something from scratch to a global large scale, we can gauge one’s ability form this. Tron went from a market cap of $2 billion to an all time high of $16 billion market cap after partnering with us…What we should focus on is this young man’s determination, endurance, and execution of tasks under pressure…After [the China Ban], an ordinary person just won’t know the pressure that Justin has gone through. Despite this, Justin was able to revitalize Tron in a global market and in such a large scale, getting Tronix listed on so many exchanges, doing a lot of PR, and so on. So, no matter how Tron will perform in the future, what we are seeing today is how determined a person can be and how one is able to cope with such a tremendous pressure and do it well.”
With many people wondering whether or not Bitcoin has hit its final bottom of the 2018 crash, others believe it may continue to go even lower. If now isn’t the time to start taking major positions in the market, though, when is. TRON specifically suffered hard from the most recent dip. With a bloody first quarter of 2018, it is possible that we can start seeing price surges leading into May.
In the grand scheme of things, TRON has seen an overall positive performance since its ICO – but new investors fail to release how far cryptocurrency has come so quickly and they expect the impossible. TRON’s market cap has dropped almost $1 billion since the beginning of February, while its volume has been exceeding levels close to that of Bitcoin and Ethereum. Ethereum has dipped under $400 for the first time since before December, however when looking at the graph this seems to be a necessary consolidation before another big leap.
Many are worried that TRON will have a continued downtrend in the next couple of months, but if there is one thing we know for certain; it is that cryptocurrencies are unpredictable. TRON deployed the test server last week and completed the development and debug of P2P module. TRON is currently trying to improve the Blockchain explorer and ensure the consistency of vote units and TRX units. Many people are quick to dismiss Justin Sun but fail to realize how new the technology is and the potential it has once implemented in more use cases. It is an inserting time for all cryptocurrencies.