After a successful MainNet launch, TRON (TRX) appears to be gearing to restore investor confidence by ensuring that the system does not encounter any issues during and after the token migration. With major exchanges supporting the platform technically, others have come out to list the token.
Justin Sun, the platform founder appears to be on top of the entire process and creating the much needed hype for the independent blockchain. However, there is every indication that the investor is getting impatient when it comes to the state of TRX price.
TRON (TRX) Price Woes
With the many listings things seems not to be right; the price of the token has remained on the red for the last 7 days. Many had expected the price to surge past the $1 mark by now but it has taken the opposite direction. This has put the social awareness on the spot; at least for now.
TRX holders will still have to wait longer given that the Odyssey 2.0 is undergoing tests. The technical team has put all their weight behind the system to ensure that there are no bugs and other vulnerabilities before all systems go. A whopping $100,000 bounty has been set aside for anyone who discovers a bug in the system.
TRON (TRX) efforts are to ensure the system is stable from the word go and it is not exposed to any attacks. Once the system goes live, an assurance that there are no failure points will be guaranteed. This appears to give the community hope and that is why they are still hanging on despite the negative price performance.
TRON (TRX) Price Drop
The MainNet launch has coincided with a market that is bleeding and the TRX price drop is not an isolated case. Many Altcoins are working on their infrastructure and this has and a toll on the overall market performance. The future success of TRON lies on the MainNet launch and the token migration to a whole new platform.
Any TRX price surge is expected mid-July; this is the time the system will have been tested and investor confidence will start to crop back. This will also end the undervaluation of the token spell. With the price of market leader, Bitcoin still under $8,000, the market will have to wait a bit longer to see any noticeable gains and TRX is no exception.
However, some Altcoins appear to be recovering and many analysts expect TRX to be among them. The current listings and technical support from exchanges should start showing positive results. Holders have been assured that their tokens are safe and they should not speculate with a promise of the token bull run by the end of Q2.
Why Hold on TRX Token?
It is important to understand that the independent TRON is barely a month old, and it will take some time before it peaks. People are now crypto-aware compared to a year ago and hype does not drive them towards any digital coin. They are looking for value and spend-ability of new coins and tokens in the market.
The full potential of TRON will be tested after the token migration process is complete. The platform is hitting the ground running with high transaction speeds. This will be a new feature that has not been fully utilized before gaining autonomy from the Ethereum ecosystem.
TRON has learned that low transaction fees attract the masses and this is one reason the platform popularity is set to increase. Bitcoin and Ethereum transactions fee are out of reach for the ordinary investors and TRON strategy will draw a lot of adoption.
One interesting reason to hold on to TRX, the number of DApp enthusiasts on the platform keeps surging and according to Sun; the system has over 100 million DApp users to date. In terms of salability, TRON has surpassed Ethereum by far.
TRON (TRX) Performance and Justin Sun Role
The TRON (TRX) founder, Justin Sun appears to be on top of things and his hands on approach will have positive effects on the TRX price going forward. He has kept the community engaged through social median and giving them hope; however, the price of the token keeps shifting south.
At the time of writing TRX was trading at $0.054 having dropped 8.08% against the dollar in the last 24 hours. For the last 7 days, the token has hit a high of $0.063 and a low of $0.054 representing a drop of 15.84%. This appears to be a huge drop that can get any investor worried.
As we wait for the token migration completion, there are all indications that the price will surge making the drop the right time to get onboard for both short and long term investor. However, the gains will depend on the larger market performance given TRON (TRX) is a new entrant into the market.