Why Are The Bears After TRON Despite Its Achievements In 2018
As prices experience a serious decline in the last 24 hours, TRON, a major achiever in the year 2018 has had its own fair share of the dip. Market trends have shown this general pattern of decline for all cryptocurrencies throughout the year, but one would have expected TRON to be different. Â
The cryptocurrency just experienced a surge of 14% within October following its mainnet upgrade. The company has also done pretty well with major stuff such as its TVM that has made it a leader in dApps and smart contracts. TRON even beat Ethereum in daily transaction volume just last week. Why then does it still suffer price decline?
The asset has lost over 5% of its value in just 24 hours and bitcoin which seems to be the compass for market trends is struggling for its own life as well. This reduces TRX chance of recovering to a very bare minimum if any in the next few days.
The general market trend clearly shows that trouble looms around the corner for cryptocurrencies this week. Bitcoin has lost over $100 and the dip seems to be worsening, some experts are looking at a $6000 stop for the cryptocurrency leader. If that is the case, then TRON might be experiencing a lot worse in the market this week.
Apart from the price âproblemâ though, TRON seems to be doing fairly well and is getting substantial acceptance around the world. Its dApps are said to be the favorite for some users and some of its innovations such as its payment platform Poppy is really helping to bring the asset to the doorsteps of merchants and encourage mass adoption.
It appears that TRONâs landmark achievements are not showing in its price which makes it look like achievements do not translate to value. However, the week has just started, and it will be interesting to see what becomes of the Ethereum rival in the next few days.