4 Reasons Why It is Wise to HODL TRON (TRX)
[Photo: TRON CEO, Justin Sun]
The market has been bearish all month this January. Every coin is not living up to the expectations of the owners as time goes. The possible explanations have been explained all over the web. These explanations have also affected the price of TRON (TRX) and many owners of the coin have been asking questions and wondering if the tide will turn in their favor.
As a TRON holder, I want to highlight a few reasons to keep holding the token and watching the price charts for the next few months.
Firstly, TRON has managed to get listed in a bunch of exchanges. The first one is the one of a kind free exchange known as Cobinhood.com. The exchange is relatively new but it will gain market share pretty fast with the confirmed promise of free trading. It is ranked 85th on coinmarketcap.com with a trade volume of $2.9 Million. TRX was also added to Bitfinex along with 6 other tokens. Bitfinex is number 2 on coinmarketcap.com in terms of trade volume. It currently does $1.9 Billion in trade and is known to be the trading grounds for the whales and heavy hitters of trading. There is also a campaign to have TRON listed on KuCoin which is ranked 14th on coinmarketcap.com with a trade volume of $198 Million per day.
All these listings mean that TRON will have access to all those traders that contribute to the high trade volumes of KuCoin, Bitfinex and Cobinhood. More access to the coin means more demand due to trading and an increase in price.
A second reason to hold on to TRON is the amount of die-hard believers of the coin. Twitter is alive with retweets of Justin Sun from such fans of the CEO and retweets of the main TRON page. Also, the main Telegram group of the coin has over 15,900 members. This is a high number for a relatively new coin. Very few coins ever reach the 10,000 member mark on Telegram and TRON has done this in very short time when you reference it to the time of release of the token: September 2017. This means that the community is growing at an exponential rate.
This same community involves a budding population in mainland China. The population estimate of the country stands at 1.4 Billion and approximately 25% of the world’s population. China in turn has a population of 15 – 35 year-olds that number around 400 Million. This is the target demographic for all the decentralized media content TRON promises to provide. If maybe 30% of this young population embraces the TRON token for use in the decentralized digital media content platform, then the coin is sure to moon in no time.
Thirdly, we should all hold on to our TRON tokens due to the planned coin burn in March, 2018. The exact date is not known, but a coin burn would signify a reduction of the coins in circulation. This will in turn reduce the supply and if the demand stays constant, the price is surely to move a few cents if not a full dollar to the Moon direction.
A fourth reason, and a very contentious one, is the current leader of the project, Justin Sun. Everyone has his or her own opinion of the man who is rumored to be the protege of Jack Ma. I always emphasize that each and everyone of us needs to do our own research on the CEOs that manage these projects. From where I stand, Justin is doing all the right things. He has a vision of a decentralized digital media platform where any artist can choose to broadcast his content without the restrictive boardroom redline that most content goes through. He also has a very good communication record. He keeps us up to date on twitter with all the coming events, partnership and release of games.
Such a guy needs to be applauded for his dedication and resilience. TRX kind of reminds me of the FUD that was around Ripple when it kept predicting it would change the world of cross border payments and finance. But look at where the company and the coin is today. Every big bank wants in!
In summary, all coins will rise and gain value with time as can be seen in the past year where the average gain was around 1,000%. What I’d advice is a patient approach to anyone who believes in TRON and the vision of Justin. Just keep accumulating the relatively cheap token!
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