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Analytics / Breaking News / Cryptocoins

TRON (TRX) Up Double Digits While Crypto Markets Bleed

TRON Chart With Values

Tron (TRX) has seen a rising investor interest since the start of the year. The price initially fell from its all time high of $0.25 but continue to resist strongly. Ultimately, it had to fall with the rest of the market but it continued to be one of the first few coins to turn rapidly from bearish to bullish. Despite its bullish impetus, the price of TRON (TRX) is still a long way from its all time high but the coin eyes near term gains as it approaches the near term target of $0.10.

Most analysts believe that given the problems with Ethereum (ETH), TRON (TRX) and EOS (EOS) will revolutionize the blockchain. How and when that happens is yet to be seen but one thing about the crypto market is that most of the investments are still made on hype. A coin like Vertcoin (VTC) gains a lot of attention for its brilliant ASIC resistant technology but is then forgotten about when a new, more ‘beautiful’ coin catches hype and becomes the next sweetheart of the market. Right now, TRON (TRX) is one of those coins. This is why most analysts think the coin is still overvalued.

TRON Chart With Values

However, analysts do not decide the value of a coin, investors do.  Right now as it happens, investors are trading on hype. As Vitalik Buterin has said time and time again, it is surprising to see how overvalued most crypto projects are. Regardless of that, we believe the price will continue to rise as long as FOMO and hype dominates the market. TRON (TRX) has a mainnet launch in May which according to most TRON (TRX) hodlers is the most awaited event of the year. TRON (TRX) also announced a $1.7 Million Airdrop which has contributed to a skyrocketing investor interest in the crypto community.

TRON (TRX) will airdrop 30M TRX equivalent of $1.7 Million to Ethereum community as a token of its gratitude and respect. However, the company has clearly announced that from this day onwards, they will not support ERC20 token and in the future TRON (TRX) will be a direct Ethereum competitor instead of being one of its children.

TRON Chart With Values

The price of TRON (TRX) is currently settling before its next run. The RSI has also cooled down and is close to normal. The growing interest in TRON (TRX) has been further boosted by more exchanges listing TRON (TRX). The company has also opened a Taiwan office and continues to announce opportunities for more professionals to become a part of their team. Tron (TRX) founder, Justin Sun has also announced that developers will be given loans of up to $100,000 USD in order to assist them with their budget issues for research and development. This is a healthy indicator of how ambitious TRON (TRX) is about its project and team. A new trading pair of TRX/USDT was also added on Bittrex today which is yet another accomplishment for the team and TRON (TRX) investors.


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