The last few months have seen a lot of crypto holders throw their hands up in despair as they watched their investments shrink in value due to the current bear market. Tron (TRX) was no exception and anyone who got into this crypto-verse during the high-times of last December up to February, might be thinking they are insane to believe in this industry. But do not despair, especially if you are hodling TRX.
The way events are unfolding, to sell your TRX now would be unwise for this investment is at least a one year hold due to the following reasons.
More Recognition By Exchanges
We have seen many exchanges embrace TRX during the Tron token migration in July. There were over 50 exchanges facilitation the swap with many emerging to offer pairing of the digital asset with fiat. This has been seen with Binance, Bittrex and most recently, Bitfinex. There is no denying that the team behind these exchanges have seen the potential in this digital asset, hence the additional pairs.
BitTorrent, Project Atlas and Games on the Tron Network
The wheels of the vehicle that is Project Atlas are now turning and we are slowly witnessing how the file sharing platform of BitTorrent will incentivise seeders using a custom token. This then means, this token on the BitTorrent platform, might be the most sought after digital asset in the peer-to-peer file sharing community. Depending on the amount of tokens that shall be created, its individual value is bound to skyrocket with every peer who joins the network.
The Tron network also recently welcomed a new era of Games on the platform with the launch of Magic Academy. The game allows for actual ownership of game items as well as allowing developers to monetize their creations. With time, such games are sure to increase on the Tron network.
ICO Capability as Seen With Tron Watch Market
Also to add, is the capability to create custom tokens on the Tron Mainnet. This then means that the Tron platform has ICO capabilities similar or equal to those of Ethereum. With a new year upon us, the probability of TRON becoming the new Ethereum are really high.
Comparison with ETH at the beginning of 2017
This then brings us to analyzing Ethereum’s rise to glory over the years and getting a glimpse of the capability of TRX to have a similar run in the markets. ETH was valued at $10 back in January 2017 and would peak at $1,400 in January this year, due to demand brought about by ICOs raising funds.
Were TRX to follow a similar path, we’d see the digital asset being valued at close to $3 by the end of 2019.
Of course this is all pure speculation. We cannot tell the price of any digital asset that far into the future. What we know for a fact, is that Justin Sun’s vision of decentralizing the internet is scheduled to last 10 to 20 years and TRX is at the center of it. We also have to remember that digital assets have excited a lot of Wall Street firms moving forward.
The future is indeed bright for the cryptocurrency industry.