Coming into the New Year, TRON (TRX) had been building progress momentum around its token. With the coin firm through its Founder and CEO Justin Sun (a former representative of Ripple XRP in China) making a number of announcements as regards new developments, partnerships and products around the cryptocurrency.
To this end, the significant bullish run of over 14% in a day, subsequent weekly rise and listing as one of the top 10 gainers from the past week came as no surprise; considering the TRON team effort to solidify their position as a top alt in the cryptocurrency market. The TRON focus as detailed in its WhitePaper is based on implementation of decentralized (blockchain) technology for the global entertainment market.
With a market cap of about $1.5 billion and currently trading at $0.024298, 89% off its all-time-high price (0.23167) over a year ago; TRON still maintains a great hold by basic standards. This assertion is hinged on first, its 9th place ranking on the coin market table after displacing Tether USDT.
Highlighted below are some more high points of the TRON (TRX) token:
- TRON tripled in transaction volume between December 2018 and January 2019 to hit a milestone 100 million transactions over 173 days – averaging 578,034 transactions daily, signalling a wave of more activity and publicity.
- OkCoin crypto exchange a subsidiary of Okex futures platform announced this month its listing of TRON. TRX will now be available to trade from January 17 against pairs of the USD, Bitcoin, Ethereum, Xrp, Ada, Zcash, Ox and more just as is obtainable on other cryptocurrency exchanges.
- TRON continues its expansion movement, announces partnership with ABCC cryptocurrency exchange to become the first platform to list TRC10 (Tron’s own blockchain based) tokens.
- TRON’s rising prices and better performances over other currencies for the past weeks in the bear market.
- TRON’s acquisition of BitTorrent in July 2018.
Price Prediction For 2019
From predictions and due analysis, TRON is projected to see great growth this year in areas of price and further development. Analysts have predicted a $12 price mark by the end of 2019 and $52.91 by the year 2020.
These predictions are made on basis of its growing partnerships, increasing DApps users on its network and other fundamentals.
Verdict
Just as the TRX token continues making waves as one of the most surging and fast rising digital currencies, basic indicators show its potential and by these standards in unison with available time for more development and technology, the TRX token looks a good hold and most importantly for the long term.
Also taking cognisance of TRON’s increasing trade volume and user community growth particularly in Asia (Japan), it is evident that the token is here to stay. For CEO Justin Sun though his policies and few announcements have been subject to controversy, his active drive towards the token’s growth and propagation is quite unrivalled within the industry.
For more information on TRON (TRX) see:
Cryptocurrency ranking and details – www.coinmarketcap.com
Website www.tron.network
Explorer www.tronscan.org
This article does not serve as investment advice. Always DYOR (Do Your Own Research) and make informed decisions.
