A wide cheer to one of the most mentioned cryptocurrencies in 2018. It would be a mistake for any of the current enthusiasts and critics to write off Tron (TRX) as deadbeat and a crypto only pushed to prominence by its CEO, Justin Sun. TRX has enjoyed the recognition of many supporters and skeptics alike with the token expected to take over the multi-billion entertainment industry. After a rocky start to 2018, where the coin faced numerous FUD posts and calls that it is a scam, the token is back in the running to be coin of 2018, taking over from Ripple’s (XRP) 2017 achievements.
With more and more investors interested in TRX after Alibaba’s CEO, Jack Ma mentioned a possibility of integration in Ant Financial, the future seems bright for TRX in the next quarter. The launch of the Tron main net and super representative elections ensures the development aspect of TRX is shining as bright as the marketing view. The final aspect Tron Foundation will be proud of is the increasing Tron blockchain connectivity (nodes) across the world. With the Trinity of Tron complete, an upcoming bull run on the token seems to be in the horizon.
How is TRX’s price so far performing in 2018?
TRON (TRX) is among the altcoins that has received attention for the better part of 2018. For a crypto project to consistently rank in the top 15 digital coins in market cap it has to be a unique solution. TRX has stood up to its glory as a solution within the multi-billion entertainment industry so far. The blockchain’s coin which aims to globalize entertainment content for free is currently exchanging at $0.0355 against the dollar. This is within the range of the lowest prices the altcoin has gone for since January 2018 and part of it can be attributed to the strong ongoing bearish market.
In terms of market capitalization, TRX has shown strong resilience to currently consist 0.8854% of the total crypto market. Its market cap is slightly over the $2.3 billion mark while its liquidity ratio is at an attractive 8.34%. The 26 week return on investment for TRX is a negative position of (58%) although the coin managed a 2nd position in the MID CAP tokens category out of 8 cryptocurrencies. However, prospects on the value of the coin still remain high despite the figures displayed in the ROI; the coin has experienced a steady increase in its traded volumes in the past week to a cumulative 13% as of press date.
Volatility has been known to define investment assets, a factor that is highly being used to critic the crypto arena. As is stands TRX has not performed any different from the likes of BTC & ETH in terms of standard deviation, the coin has an s.d of 17% while its volatility in the past 200 days is at 181.56%. Clearly, it is not any safer than securities or bonds but has secured a position among prospectus crypto projects. The coin’s developers have earned an attractive algorithmic score of 4.5/5 ranking the project 8th out of over 1500 crypto coins hence a long-term competitive advantage. Binance and Okex are currently the top two coin exchanges that TRX is traded on although the coin’s liquidity can be obtained in over 40 exchanges.
Technical analysis for the TRX/USD pair price movement show that the coin has been ranging for the better part of 2018. It began with a bullish trend in January that did not last for long, the price then ranged for 3 months when it gained momentum for a week in April. Since then, TRX prices have been ranging making the all-time high of $0.2548, an ambitious dream for short term investors. TRON (TRX) is barely a year old but has shown a strong capability of surviving crypto hurdles such as regulation and usability both in its price and fundamental aspects!
The numbers above shows the power of TRX is held back by the whole market currently being bearish. A turn in fortune in the cryptocurrency market may well see Tron finish the year as the best investment asset in 2018. Will TRX beat XRP’s 2017 exploits? Only time and luck can tell.