As promised last week, we are continuing our close analysis of TRON.
TRON has stood out recently, hitting the headlines for (mostly) good reasons. There is a great belief behind this currency and it’s future, we, among many others want it to do well, so, how is it looking today?
Things looked okay for TRON early on this morning. Whilst it did not take as much of a jump as its neighbours, TRON did open up at $0.038, and continued to (almost) maintain at around $0.037 until a noticeable decline began early this afternoon, putting TRON at a value of little over $0.036 at the time of writing.
So, overall the outlook for TRON seems to be focused on a negative trend, and, unfortunately since this morning the short ‘green’ hiatus has reached its end, with the markets now back in their familiar state of reduction, but this is by no means an indication of a time to give up on TRON, nor is it a time to give up on the others.
Where does TRON need to be aiming?
The ideal benchmark for TRON is $1.00, once it starts to consistently trade at $1.00 then you should expect investment to take off on a much larger scale. Before then however, TRON not only needs to reach that figure, far from its current $0.03 valuation, but it needs to maintain that figure. That is often the hardest achievement but is also the best measure of a currency’s integrity.
How can TRON reach $1.00?
At the moment, TRON is based on the ERC20 token, this isn’t holding the currency back, but it does stop the token from standing out significantly. We know that TRON is of course set to change this and release an entirely unique TRON coin, this is rumoured to be taking place on the 31st of May 2018. When this happens, the TRON network should make good ground and, in theory this move will stir up a bit of a media storm that should (if the update is successful) give TRON some nice positive PR. Of course, it could go terribly wrong and sink the coin forever, I’m sure the risk of this however is minimal.
Okay so i’m not saying that TRONs migration from the ERC20 format will make the currency shoot up to $1.00, but I am saying that this may provide a boost to the coins value and at least set it on the right trajectory, towards $1.00. Even when that target is met, a lot of work still needs to be done to maintain that value in order to encourage serious trading and investment to start.
We need to keep looking at this currency in a positive light, it is uncertain, sure, but I believe it has the longevity to survive this turbulent time on the market, TRON has a big life vest on and is treading its way through the waves. The 31st of May could just give TRON the boost it needs, but likewise, if indeed the update is to take place then. We expect more news on this in the coming weeks and as ever, strive to keep you updated as it comes.