As the mainnet launch date approaches, we look at some of actions we expect to see on the TRON (TRX) market place. The Ethereum-based token is moving towards its own blockchain, making it one of the most anticipated event in the crypto universe to date. TRON has put in place a system to ship out its dApps and users to the new blockchain leaving behind the ERC20 standards. The migration has been widely supported by influencing figures in crypto space sweetening the launch of the TRX mainnet blockchain. Cryptocurrency exchanges play the role of main facilitators of TRON’s migration that is expected to be launched in 10 days’ time, May 31st 2018.
Actions expected to take place after TRON’s main net launch
- Adoption of more dApps on TRON
TRON (TRX) is placing itself at an advantage to fish the customer base of Ethereum as scalability (or the lack thereof) and cost issues trouble the investor of smart contracts. TRON’s new main net will increase the overall throughput of the system to over 1000 transactions per second while having almost free transactions. This two features will favor the adoption of dApps to TRON’s new blockchain while stifling Ethereum’s adoption. Comparatively, TRON offers a better system to build and develop decentralized applications solving Ethereum’s <25TPS problem and costly transaction fee challenge.
- Sweet sixth spot.
There is no doubting the fact that TRX is one of the best cryptocurrency in the world right now. The TRX development team has worked tooth and nail to ensure the main net is available to the public before Q3 2018, the original set date for launch. The team finished product will be launched at least a month earlier than planned. This shows the drive the team has in making the currency one of the top 5 cryptos in the world. The company is targeting a top 6 place on Coinmarketcap by the end of 2018 in market capitalization which is totally possible after the main net launch.
To match the current number 6’s market capitalization on the ranking, Litecoin with $7.7 billion USD market value, TRX will need to hit $0.11 USD. This does not seem a way off target given the abilities the new main net is set to offer TRX holders. As adoption is set to increase in the dApps sector, so will the users of TRX who will need to use the coin in the platform.
The adoption rate will need to surpass that of Litecoin (LTC), Cardano (ADA) and Stellar (XLM) to have the number 6 spot which it achieved in January. None of these coins looks as enthusiastic and market friendly than TRX, giving TRON (TRX) believers a hope to hit sixth spot really soon after the main net launch.
- Trading volumes to increase significantly
As TRX soared past the $0.08, investors signaled a bullish momentum on the token as they await the main net launch. The daily volumes traded on TRX are yet to reach the highs experienced back in January that saw over $3.8 Billion USD worth of TRON (TRX) traded in a day. The current volumes of about $700 million USD is set to surpass the billion dollar mark as we approach the last week to the launch date. The market has started to show upwards trends in the overall growth in trading volumes with a 25% increase in the last 7 days.