TRON has stepped on more than 100% of gas in the last 30 days, can it rise again?
Despite the many hopes that have been saved for crypto investors, early 2019 for the crypto market rose again, but unfortunately the crypto market was unable to let go of the bearish grip that caused an extraordinary price decline last year. In fact, the market continues to fall until now.
However, while other coins traded in red, with their charts showing a continuous decline - TRON (TRX) was one of the many coins that managed to rise, and the rise was also unmitigated he managed to grow around 100% in five weeks, starting with December 17th.
Before it starts to rise, TRX prices are around $ 0.127. However, in just five weeks, TRX managed to rise to $ 0.025, according to data we saw from TradingView. Although this is nothing compared to large cryptocurrency like Bitcoin which moves up and down hundreds of dollars, it is still a big step for TRX, whose value is still only a fraction of a dollar.
Also read : Different flavors of Manokwari Breadfruit Chips
Why can TRON prices rise suddenly?
One of the obvious questions now is - why is that happening? After all, TRON went through all of 2018, with countless partnerships, projects and other new developments but did not significantly affect prices. So why is it now up?
One reason is the launch of BitTorrent Token (BTT). BTT will be crypto original from the BitTorrent ecosystem itself, and has been working since TRON bought BitTorrent in mid-2018. More than a week ago, BTT was launched at Binance Launchpad, an initiative that should launch one coin per month and expose it to millions of Binance users.
The response was very positive, but it was also very unexpected, and all token sales were completed in just 18 minutes, even after the platform had problems because of the large number of interested investors.
Requests for BTT tokens surprised everyone, even though that was a positive surprise. However, this also has a considerable impact on TRON's growth and future development, because it can be seen from the increase in TRX value.
One thing to keep in mind is BitTorrent has millions of users, which is something that the dApp has not been able to achieve so far. Although there are several projects dedicated to smart contracting and dApps, such as Ethereum, EOS, and even TRON itself - none of them have managed to attract enough users to reach popularity like BitTorrent.
According to the founder of TRON, Justin Sun, there are currently around 1 billion devices in the BitTorrent ecosystem. Because the number of BTT coins is available, which is only around 990 BTT per device, which is likely to allow BTT prices to grow as well. The big question now is how many of the users really want to use BTT.
If it turns out BTT makes it difficult to use BitTorrent, this might have negative consequences on coins, at least when it comes to its adoption by BitTorrent users.
Also read : Smooth and Elegant Silver Crafts Koto Gadang Agam
Meanwhile, all who decide to use coins will help improve TRON's own ecosystem, with all transactions through the blockchain network. Although it's unclear how many users will choose to do so, it's likely that TRON must handle millions of additional requests, with many of them likely to be made on a regular basis.
However, while other coins traded in red, with their charts showing a continuous decline - TRON (TRX) was one of the many coins that managed to rise, and the rise was also unmitigated he managed to grow around 100% in five weeks, starting with December 17th.
Before it starts to rise, TRX prices are around $ 0.127. However, in just five weeks, TRX managed to rise to $ 0.025, according to data we saw from TradingView. Although this is nothing compared to large cryptocurrency like Bitcoin which moves up and down hundreds of dollars, it is still a big step for TRX, whose value is still only a fraction of a dollar.
Also read : Different flavors of Manokwari Breadfruit Chips
Why can TRON prices rise suddenly?
One of the obvious questions now is - why is that happening? After all, TRON went through all of 2018, with countless partnerships, projects and other new developments but did not significantly affect prices. So why is it now up?
One reason is the launch of BitTorrent Token (BTT). BTT will be crypto original from the BitTorrent ecosystem itself, and has been working since TRON bought BitTorrent in mid-2018. More than a week ago, BTT was launched at Binance Launchpad, an initiative that should launch one coin per month and expose it to millions of Binance users.
The response was very positive, but it was also very unexpected, and all token sales were completed in just 18 minutes, even after the platform had problems because of the large number of interested investors.
Requests for BTT tokens surprised everyone, even though that was a positive surprise. However, this also has a considerable impact on TRON's growth and future development, because it can be seen from the increase in TRX value.
One thing to keep in mind is BitTorrent has millions of users, which is something that the dApp has not been able to achieve so far. Although there are several projects dedicated to smart contracting and dApps, such as Ethereum, EOS, and even TRON itself - none of them have managed to attract enough users to reach popularity like BitTorrent.
According to the founder of TRON, Justin Sun, there are currently around 1 billion devices in the BitTorrent ecosystem. Because the number of BTT coins is available, which is only around 990 BTT per device, which is likely to allow BTT prices to grow as well. The big question now is how many of the users really want to use BTT.
If it turns out BTT makes it difficult to use BitTorrent, this might have negative consequences on coins, at least when it comes to its adoption by BitTorrent users.
Also read : Smooth and Elegant Silver Crafts Koto Gadang Agam
Meanwhile, all who decide to use coins will help improve TRON's own ecosystem, with all transactions through the blockchain network. Although it's unclear how many users will choose to do so, it's likely that TRON must handle millions of additional requests, with many of them likely to be made on a regular basis.
Post a Comment