Tron up to Big Things Amid Crypto Correction

Tron (TRX) has had a busy month. They launched their main network, will be accepted on a popular adult site, locked up some coins, and more. See Tron’s official Twitter to confirm all of this.[1]

These are all the sorts of events that would have sent Tron to the moon during the alt season of January 2018, but amid the recent crypto correction of May – June none of these have made much of a dent (there was a decent rally over the main net, but the price has since come down).

It could be that the lack of action is due to Tron holding steadier than many alts since January, it could be because exchanges are working on supporting token migration and people are waiting to see how that goes or are having trouble moving funds in and out of exchanges (TRX used to trade on the Ethereum network, now it is on the official Tron network, and that means exchanges need to do some coding to support the changes… and that means withdrawals/deposits have been down on exchanges)…. or honestly it could be because Tron is running an odd sort of contest where one gets 10,000,000 TRX if they trade the most on Binance (maybe the whales are keeping it in range as they duke it out; who knows).

Whatever the reason, TRX is a little stuck right now in terms of price while the rest of the market is in rally mode.

When I look at coins in this state, like TRX specifically in this moment (but also XRP comes to mind), I don’t think “oh no, this isn’t good” I think “man, the market is passing up some good opportunities.”

If the market continues to move in a positive direction I’d be looking for a coin like TRX to play catchup given all the recent good news… only thing that is going to get in the way there is if Tron hits some speed bumps. It has a lot going on right now, and all those moving parts mean there is potential for things to go wrong.

Anyway, I can’t and wouldn’t tell you to buy any coin, but if you are looking for deals and feel like you missed the recent rally, why not look at Tron?

NOTE: In terms of charts, TRX is trading in between its low in March and high in May (in BTC prices). Meanwhile, because Bitcoin is down, its USD value is near its 2018 bottom. Meanwhile, no coin is near its 2017 lows and Tron is above its 2018 lows in BTC. When I’m looking at potential upside and downside, I’m looking at 2018 first and foremost, but I’m keeping it realistic and considering those 2017 prices too. If we ever dip down to 2017 levels you’d be looking at big losses on anything you buy now, so one should consider that possible world before they get too bullish.

Article Citations
  1. Tron releases locked TRX and burns close to $49 billion TRX ERC20 tokens.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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