TRON (TRX) Continues Rising Ahead of Main Net Launch

Justin Sun's Currency is Back in the Green

TRON (TRX)–Here is a brief overview of TRX pricing spanning the last nine months:

In September 2017, TRON Founder Justin Sun’s currency began as an ICO that raised 90 million USD pre-market release at a price of 0.002 USD. The coin then traded publicly on the market at 0.002 per coin, with little price movement until the start of December 2017. At that point, TRON benefited from strong public interest in cryptocurrency creating the market conditions for quick rises in valuation. The industry as a whole had tripled in market cap in the span of several months, climbing to nearly 850 billion USD.

TRON started the month of December trading at its ICO price of 0.002 USD and finished the year at 0.04, an increase of 1900%. It was one of the many examples at that time of overnight millionaires being made in the cryptocurrency industry, which contributed to the overvalued, overbought conditions that led to the bear market through the first half of this year. TRX pricing continued to climb into the beginning of January 2018, reaching an all time high of 0.30 USD on January 4th. From there the price of TRX started a sharp decline, falling back to 0.048 USD by January 17th. By the midway point of March, TRON’s price had dropped as low as 0.024 USD, constituting a 92% decline in value since January’s all time high.

While TRX price, buoyed by the looming excitement over Main Net launch and the genuine marketing efforts of Justin Sun and the TRON Foundation, has since recovered from March’s low, the currency has had a roller-coaster ride in valuation over the first nine months of inception. Main Net is looking to give TRON the stability it needs to be a major power in the space of cryptocurrency, while the TRON Foundation has recognized the drastic efforts required to mend TRON’s image with the general public and investors.

TRX Main Net Features

Despite only being on the market for nine months, TRON has established itself as an industry leader in terms of functionality. For investors and other value-seekers looking at the underlying technology to guide their portfolio habits, TRON is keeping the focus on enhanced utility with the launch of Main Net at the end of May.

Main Net may not garner the same appreciation from the general public as a big-name partnership, but those within the industry recognize the update as a departure point for the currency. Main Net marks the beginning of TRON’s network and differentiation from the over-populated class of ERC-20 tokens. With Main Net, TRON can finally start development towards achieving its white paper goals: to create a platform to disrupt and challenge the conventional practices of the entertainment industry, using the modernity of cryptocurrency.

TRON is leveraging the features of TRX to be a coin that can support such a bold claim. Rather than being another transacting-based currency, such as Bitcoin, Litecoin and Ripple, TRX is establishing a network in the manner of Ethereum that will allow for near-infinite development directions. It’s not that TRX can’t be used for transactions with greatly enhanced utility over the industry leading BTC, it just doesn’t have to. With the features planned for Main Net, TRX is ready to pave the way for cryptocurrency, and possibly Web, 3.0:

  1. Nonexistent fees. The primary knock against Bitcoin, outside of confirmation times, has been unmanageable miner fees as a barrier to scale. As more users invest in Bitcoin and attempt to transact with the coin–thereby fulfilling the purpose of the currency–miner fees grow to an unacceptable level for the average user. While the fees provide a truly capitalist twist to BTC usability (those who are willing to spend more can use BTC more efficiently), the market is not going to support a payment method that costs them substantially higher than what they are used to through traditional debit and credit platforms. TRON is planning a 0.00001 TRX standard fee for all transactions, which means a single coin purchased today for 8 cents could provide a user a lifetime of transactions on TRON’s network.
  2. Coinburn implementation. TRON’s coinburn should be considered more of an asterisk to the technology. Rather than destroying coins permanently in the vein of Ripple’s XRP, TRON’s coinburn is a pay-to-play system for outside developers on Main Net’s platform. For a developer wishing to create their own currency backed by TRON (as many ERC-20 currencies have used Ethereum in the past), it requires the permanent consumption of 1024 TRX. While TRON’s coinburn will not have a significant effect on price over time, given the currency has a hard cap of 100 billion tokens, it’s an indication that Justin Sun and the TRON Foundation have given thought to increasing TRX scarcity over time.
  3. Built to scale. Yesterday, we wrote about Justin Sun’s announcement that TRON would be capable of handling 10,000+ transactions per second with Main Net. That number is up substantially from the originally promised 1,000 tps announced prior to the Exodus update. Assuming everything goes as Justin Sun has envisaged, TRON will be an industry leader in terms of network scalability, surmounting the crushing barrier to growth that Bitcoin has yet to solve.

While TRON has been through its share of severe price swings during the first nine months it has been on the market, the TRX currency is set to be a top ten contender over the rest of the year, with Main Net building a place for TRON in the short-list of cryptos that have a real-world future.

Gracie Perez

Gracie Perez is a part of TechNewsLeader team since we started. she holds a degree in Computer Sciences. From 2017, She has pivoted her career towards blockchain technology, with principal interest in writing Cryptocurrency news and different guides. She is also working with different online media outlets.

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