TRON TRX Will Fly When China Open Up To Cryptocurrencies
What happens now with TRON? The past few months have seen some big developments within the TRON project, namely their movement from the Ethereum blockchain onto a TRON mainnet, yet even since this, and even with a few new exchange listings behind them, TRX remains stagnant, undervalued and a little deflated.
We all expected that TRON would fly through July and August but the reality of it is, is that TRON has sunk, its market cap has shrunk and overall, itâs all gone a little bit wrong. Thatâs not to say itâs all over just yet, thereâs still a lot of hope on the horizon, but, investors are feeling a little exhausted by it all right now.
In terms of promise, TRON has an awful lot of it. The acquisition of BitTorrent, will see some huge growth in the network, we also know that TRX will see some significant listings again soon. Another big promise for TRON however is the idea that when China open up to cryptocurrency, TRON will become one of the countries favoured projects, alongside itâs neighbours TRON, VeChain and NEO.
As it stands, Chinese authorities are still very much anti crypto, though the future does look bright and one day we do expect that, through appropriate regulation, the country will open up to cryptocurrency adoption. This is something that could help power TRON into a very prosperous future indeed.
According to Seeking Alpha:
âChina is the great unlock for me with TRON. Simply put, they arenât in the game right now (Chinese Yuan is estimated to be at 1% of total BTC trading). We arenât seeing CNY pairing with TRON, or other coins, and we arenât seeing Chinese firms truly started to get invested into the coin. More on that in one second.â
âTRON is part of the big Chinese three that I look at; along with NEO and VET. I suspect that when (and I think itâll be a when) China does start to warm up to crypto, it will look to boost its national projects before international ones. You can see this with VETâs announcement of working with the Chinese government. I think TRON could see the same benefits.â
See more for yourself, here. Â
Overall, this is one development that could see TRON back into the top ten cryptocurrencies and could help boost the value of TRX right back up. Moreover, openness from Chinese authorities will do great things for TRON and TRX adoption.