It seems that this morning, the impressive rise of TRON has finally met its match, given that the value of TRX has sunk for around a full day now.
This week, we saw TRON break into the top ten for market capitalisation, sitting comfortably in ninth place before a very erratic IOTA knocked TRON back down to tenth (still a very impressive market capitalisation given that TRON doesn’t even have its own blockchain, yet).
Because of a few big announcements from the TRON Foundation, including a listing on CoinTiger, the introduction of the TRON Super Representative Election and of course, the addition of more trading pairs on Bittrex, TRON has seen some very positive movements this week.
On Monday the 30th of April, TRON very briefly hit $0.10 before experiencing a steep correction down to $0.087 just a day later, however as the week continued TRON managed to maintain quite healthily above $0.090, up until yesterday which saw TRON drop as low as $0.084.
As IOTA takes the limelight well away from TRON, how does TRX look now?
At the time of writing, TRON is valued at $0.086 and is down 0.22%. This decline is far shallower than the declines TRON has suffered over the past 24-hours so therefore, as it stands things are starting to look up.
Why do we think TRON will climb again?
Well of course, the patterns we see at the moment seem to be down to the ‘fizzling out’ of the TRON hype. Moreover, with IOTA stealing TRON’s limelight, the small declines we are witnessing are of course expected. We can’t however forget that the TRON MainNet will be launching at the end of May, allowing for full TRX migration from the Ethereum blockchain onto TRON’s own network. The inception of this, is sure to stir up the markets significantly and, it’s pretty certain that in anticipation for the launch, TRON will start to pick up pace once more. Because of this, we expect that its value could move past $0.20, this however won’t be clear until May draws to a close.
As it stands then, TRON has hit a bit of a bumpy patch, perhaps some new listing announcements next week (or something similar) will help to give TRON a bit of a boost, overall though, unless we see another surge soon, we don’t expect to see TRON over $0.10 for a few weeks at least.
However, as the launch of the MainNet nears, $0.10 may literally just be a drop in the ocean, we would like to see TRON hit $0.20 and hopefully, it will with ease. After this point, who knows what will happen – that simply depends on how well the community takes to the MainNet launch.