Why Tron (TRX) Continues to Outperform other Cryptocurrencies
Tron (TRX) – One of Justin Sun’s recent tweets, as excitement surrounds the TRX token. “This is just the beginning! TRON Test Net Launch Countdown: 7 days, 168 hours, 10000 minutes, 605000 seconds!”
— Justin Sun (@justinsuntron) March 24, 2018
With the Test Net launch only 7 days away, Torn (TRX) has already seen an intense price surge in the past 24 hours. By separating the Torn blockchain from the existing vulnerable ERC20 protocol of Ethereum, the Test Net launch will therein give birth to the Exodus Main Net – which has been set to a new release date of May 31st, 2018. The buzz surrounding Torn is picking up in a way that the crypto world has never seen before – a coin at such a small price with such a big mainstream buzz.
Today seems to be a very positive day for the cryptocurrency market with BTC dominance at a high 44.3%. TRX is currently trading at a cool $0.05 and sits at number thirteen on the top 20 coins for market cap, with a $3 billion dollar market cap.
Tron is one of the more transparent coins in this new market, with an active team that continuously relays good news and announcements to its followers. While news of the Test Net launch and the coin burn start to make headlines, it is no surprise as to why the price is going up. The mere fact that this coin has gone up just one cent overnight shows us how powerful this new digital asset class truly is.
Tron brings a radical change to the world of online media content by offering a strong decentralized platform that makes entertainment contents accessible around the world with blockchain. Content distributors like YouTube act as a third party when a user wants to put their project on a platform; but Tron can cut out the “middle-man” and give content creators the benefit of the doubt. As we move into the future, everyday, more and more people began to find use in online and social media.
Widely known for making big moves in the gaming industry, this blockchain protocol is also advancing media publications. The Tron foundation plans to make media contents like scholastic publications and online books and pictures and videos accessible to its users with direct publication and ownership. Educational institutions can use this cryptocurrency for online courses and classes.
On March 22nd, the Tron Foundation twitter, @Tronfoundation, announced a new member to their team: Aaron Wang.
Wang was a senior R&D engineer of the Perfect World Co. – a Chinese video game developer – who will now be responsible for the R&D of the bottom contract of TRON. When asked about the announcement, this is what Aaron Wang had to say: “Joining TRON after leaving Perfect World is one of the most important decisions for my career as it is a brand-new challenge. I am knowledgeable in blockchain field, coins, and chains. I have been attentive enough to TRON project founded by Justin Sun and I feel very fortunate joining him and his team. I am very happy and I think TRON has a very strong technical team. With broad prospects for development, my devotion will be to the fullest.”
Justin Sun said that Aaron is an “extremely passionate colleague and his obsession with blockchain technology is commendable. He is passionate and willing to learn in his free time even if he is in other industries. We highly appreciate your spirit.”
Justin Sun, Tron (TRX) founder
In the short span of one month (December 5th – January 5th), Tron surged 12,600%. The coin, valued at $0.002 on December 5th quickly rocketed to $0.25 by January 5th. However, one month later, by February 5th, the coin is down trading at around $0.02. If there is one thing we know for certain, its that volatility is an inevitable factor of the crypto market. Leading into March, Tron’s price remained rather stagnant, but the past 24 hours has seen a big upward trend with a 30% plus price spike.
In early January, when TRX hit $0.30 cents out of the blue and was only listed on a few exchanges with no official working product, many believed the coin to be a pump and dump. Many analysts believe that TRX can surpass its January all time high and even reach levels of up to $1 in the not-so-distant future. News of the coin burn and the Test Net launch is enough to give us the 30% boost we saw today.
Tron wants to “Heal the Internet” and sets out do this with data liberation: free and uncontrolled data. Enabling an ecosystem where users can obtain digital assets form content spreading cuts out the need for third party sites we value so high today – and this is what makes this so revolutionary. It is no surprise that Tron has seen rapid growth this past week. While more FUD seems to come into the market everyday, it is times like this where we can see that the proof is simply in the pudding.