The Tron (TRX) token has had a good run in the market in the past few weeks. This has enabled the token to rise up the ranks on coinmarketcap and is currently in the number 10 slot with only $354 Million in market cap separating it with the number 9 coin, IOTA. Very soon, it will be in the top 8 if not higher.
Market analysis puts TRX at a value of $0.0825 and 10.17% up from levels only 24 hours ago. When comparing this value with the month low of TRX experienced on the 1st of April when the token was valued at $0.029, we can conclude that TRX has done a cool 184% in gains in less than a month. This is all some welcome news especially with the FUD that had surrounded the token and project from the get go.
Initial reports had indicated that the project’s whitepaper was not original and that Justin Sun was not the right man for the job. However, due to constant updates and developments, the project and CEO (Justin) have proved skeptics wrong with a bunch of noteworthy developments and live broadcasts that have cemented investor confidence.
The working Test Net version of the Tron Network was released on the 31st of March this year with a lot of excitement and expectations. This is because the current network has approximately 100 million users through the already existing 10 Decentralized apps on it. The newest entry of DApps on the platform is SAMY which is a hybrid decentralized influencer marketing platform.
These same DApps are also slated to be transferred on the new Main Net as soon as token migration is complete on the 21st of June this year. Also to note about the migration, is that it will be automatic on all exchanges TRX is listed on. But if you forget to transfer your TRX before the 21st, there is an exchange that will provide migration services for life. The name is yet to be revealed by the Tron Foundation.
On the part of decentralization, the Tron project has what it calls Super Representative elections that will be carried out on the 26th of June. A Super Representative is defined as the bookkeeper on the TRON network. The total number of Super Representatives shall be 27 on the network. They will be responsible for verifying the transaction data distributed on the network to perform package transaction and create blocks.
Perhaps what we should all be excited about is the launch of the Main Net that has been scheduled for the 31st of May. The countdown on the Tron Website puts this date at 32 days, 6 hours, 35 minutes and 6 seconds and at the moment of writing this.
This said, it is full steam ahead for the Tron project and the token in the markets as it continues to WOW with double digit gains per day.