Watching Tron (TRX) drop from its highs less than a week ago has been a harrowing experience for all of us (more so if you bought in at the top). But for the multitudes of believers following this amazing altcoin’s rise, this correction is but a drop in the ocean of gains made in the month(s) prior.
As the coin market-cap recovers from the recent panic sell-off, a number of coins anguishing in the stagnate sea of diminishing returns will likely surface from below the water line soon. While many terrific coins will rise with the incoming tide, many investors expect Tron (TRX) to leap from the depths like a Great-White, breaching the surface in an all-out assault on the market seals who fled too early from this ultimate predator of the alt-coin sea.
A Rising Tide
The entire crypto-market took a hit this week with huge withdrawals occurring across the board. A fluctuating market-cap and some unwelcome news coming out of South Korea sent investors clambering for a safe space to secure their gains. Mostly, folks piled into Ethereum (ETH), in an attempt to catch one last upward-trend before transferring gains out of the market completely. Many of us are still waiting for a return to normalcy as our favorite holds wait their turn-in-line for the next market pump (coming shortly from a new wave of public buy-in).
But Tron (TRX) fell a bit harder than the others leading up to the current market turmoil. The big question on most of our minds as we contemplate the future of this super-nova of the crypto-universe, is why?
FUD – Fear Uncertainty and Doubt
With the bullish sentiment permeating the chat-rooms of your favorite online forums, it was only a matter of time before the braggadocios nature of Tron’s (TRX) founder, Justin Sun, got him into hot water with the more conservative investors following Charlie Lee (Litecoin’s (LTC) founder). Perhaps hurt by Tron’s (TRX) brief over-taking of Litecoin (LTC) by market-cap, Charlie Lee poked fun of this Johnny-come-lately, referencing the movie, Tron, as over-hyped. Geez.
The laughable drop in the price of Tron (TRX) following this dispute did little to shake investors, as Justin Sun announced new additions to his development team and a partnership with O-Bike, a bicycle sharing company in China with a user-base over 10 million strong.
Justin Sun was next accused of selling his shares of Tron (TRX). This ridiculous assertion caused another wave of investor panic a midst the general market correction all coins were experiencing. Justin Sun, a master of social media, quickly took to Twitter to squash these rumors, doing his best to remain stately during the scare. But the damage (though small) had been done and the price of Tron (TRX) fell further.
Suddenly, and seemingly out-of-nowhere, the final nail in the FUD coffin blindsided the Tron (TRX) community when a couple overly-concerned nerds (likely jealous of Tron’s recent moon-shot) called out the whitepaper (the written concept representing core ideas behind our favorite altcoin) as a copy-and-pasted plagiarism of existing developer code. Dangit. How this last hit will play out is yet to be seen.
When clearing fear, uncertainty and doubt from a frenzied class of speculators, the best way for Justin Sun and the Tron Foundation to move forward is with the announcement of another development. With a series of on-going exchange listings helping pave a solid path toward the future of cross-platform digital entertainment, Tron (TRX) may just have another card up its proverbial sleeve in this high stakes poker-tournament of coin speculation.
Tron (TRX) Dogs
Destined to give Crypto-Kitties a run for their money, Tron (TRX) Dogs promise all the excitement of the original, without the delays associated with Crypto-Kittie’s release on the Ethereum blockchain. And with the mania surrounding this breed-able pet-concept, Tron (TRX) dogs are expected to explode onto the scene in the coming days.
Buy the Dip
Tron (TRX) is of course well-known for it’s dramatic rise, and now for something of a steep fall. Still when considering the bigger-picture, the coin is up somewhere near 500% in the last month alone (despite the current dip). Having proven itself time and time again as a power-player in the altcoin space, and as the vision of Justin Sun translates into yet another cohesive product for crypto-enthusiasts to sink their canines into, Tron (TRX) will rise again, and it will likely rise quicker than any of us expect.