[Photo: TRON CEO, Justin Sun]
The market was bearish all month this January. Any coin will fail to meet owners’ expectations over time. The possible explanations have been explained all over the web. These explanations have had an impact on the price of TRON (TRX) as well, and many owners of the coin have asked questions and wondered if the tide will turn in their favor.
As a TRON holder, I’d like to highlight a few reasons why I should keep the token and watch the price charts for the next several months.
First, TRON has managed to get listed on a number of exchanges. The first is the unique free exchange known as Cobinhood.com. The exchange is relatively new, but with the confirmed promise of free trade, it will gain market share fairly quickly. With a trading volume of $ 2.9 million, it ranks 85th on coinmarketcap.com. TRX was added to Bitfinex along with 6 other tokens. Bitfinex is number 2 in terms of trading volume on coinmarketcap.com. It is currently trading $ 1.9 billion and is known to be the trading reasons for the whales and big hits. There is also a campaign going on to get TRON on KuCoin, which ranks 14th on coinmarketcap.com with a trading volume of $ 198 million per day.
All of these listings mean that TRON has access to all those traders who contribute to the high trading volumes of KuCoin, Bitfinex and Cobinhood. More access to the coin means more demand due to trade and a rise in price.
A second reason to hold on to TRON is the number of die-hard believers in the coin. Twitter thrives on retweets from Justin Sun from such fans of the CEO and retweets of the TRON main page. The mint’s main telegram group also has over 15,900 members. This is a high number for a relatively new coin. Very few coins ever hit the 10,000 member mark on Telegram and TRON has done so in a very short time if you refer to the time the token was released: September 2017. This means the community is growing exponentially.
The same community includes an emerging population in mainland China. The country’s population estimate is 1.4 billion and roughly 25% of the world’s population. China, on the other hand, has a population of 15 to 35 years, which numbers around 400 million people. This is the target group for all decentralized media content that TRON promises. If maybe 30% of this young population use the TRON token for use in the decentralized platform for digital media content, the coin is sure to turn to the moon in no time.
Thirdly, due to the planned coin fire in March 2018, we should all hold onto our TRON tokens. The exact date is unknown, but a coin burn would reduce the number of coins in circulation. This in turn will reduce supply and if demand remains constant the price will certainly move pennies, if not a full dollar, in the moon direction.
A fourth and very controversial reason is current project leader Justin Sun. Everyone has their own opinion of the man who is said to be Jack Ma’s protégé. I always emphasize that each of us must do our own research into the CEOs who manage these projects. From my point of view, Justin is doing the right things. He envisions a decentralized digital media platform where any artist can broadcast their content without the restrictive boardroom redline that most content goes through. He also has a very good communication record. He’ll keep us updated on all upcoming events, partnerships, and game releases on Twitter.
Such a guy deserves praise for his dedication and resilience. TRX kind of reminds me of the FUD, which was near Ripple when it kept predicting that it would change the world of cross-border payments and finance. But look at where the company and the coin are today. Every big bank wants to get in!
In summary, all coins will rise and appreciate in value over time, as seen last year when the average gain was around 1,000%. What I would advise is take a patient approach to anyone who believes in TRON and Justin’s vision. Just keep collecting the relatively cheap token!
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