TRON has been a stand out currency over the past week. In terms of value and market capitalisation is has risen significantly. Now, TRON stands in ninth place according to coinmarketcap.com, firmly cementing itself as a serious top-ten-currency contender.
Yesterday, we saw TRON peak at $0.101, after a very significant climb over the weekend. We should consider that prior to the weekend, on Thursday the 26th of April, TRON was hitting $0.067. Now at the time of writing, TRON is valued at $0.0907, down 1.33%.
This decline is of a slight concern because over all, the rest of the markets seem to be entering a positive climb, perhaps TRON is just experiencing some correction as a result of it’s cracking weekend, also though, we can’t really write off that something more serious may be dragging its value down.
Around a minute into writing this, TRON have announced an airdrop in which they are giving away 30Million TRX across users who have at least 1ETH in their wallets.
The TRON airdrop we announced is now LIVE!
Claim your free TRX now: https://t.co/YABAs5qDwI
— Tron Foundation (@Tronfoundatain) May 2, 2018
Perhaps this airdrop will generate a bit of hype and will see the value of TRON pick back up over the coming hours. Of course, it will take a bit of time before any changes occur, therefore, this is something we are going to watch through the day.
Honestly, I don’t think we need to have too many concerns about TRON just yet. This decline is most likely down to correction as previously suggested, however it’s negative movements should always be observed with caution. Since TRON has made such good progress over the past few days, this correction might only see the value of TRON seep into the $0.080 region, meaning that in comparison to the values we saw last week, things are running in TRONs favour.
The last consideration of course is the fact TRON are releasing their MainNet at the end of May and will be migrating onto their own blockchain (away from the current Ethereum format). Because of this, we do expect to see the value of TRON shoot up. So, even if this correction is more than just a correction and even if we see TRON back down to the $0.060 zone, anticipation for these events should indeed guide the price back up.
For now, lets hope TRON manages to cling on to ninth place and ideally balances above $0.090. If it can manage this, the end of May should spread an air of excitement around the TRON community.