Trading above the $0.05 USD mark on some exchanges on June 21st, less than 3 months ago, Tron (TRX) price has fallen to $0.019923 USD today. This is however a fair price to investors as the whole cryptocurrency market continues to face turmoil since the start of February. Tron Foundation is working its hat off getting the coin listed on various globally re-known exchanges, partnerships within and without blockchain industry and technological developments on its platform. However, its efforts are not visible on the charts as the gravity of the bearish market continues to drag the coin’s price further below.
The recent slow rise in price as we head to Q4 may yet signal an upcoming reversal which will heavily benefit Tron’s quest to maintain its place in the top 10 largest crypto coins in the world.
Q4 offers a resurgence of the cryptocurrency market
Having only survived through a single Q4 so far in 2017, it may yet be too early to predict the overall impact the upcoming quarter will have on TRX price. More so, last years end was quite abnormal as it saw prices skyrocket above the roof and it may take a while before we witness another bull run as that seen in 2017.
Nevertheless, the price of TRX is set for an uptrend in Q4 if the overall cryptocurrency market bearish momentum reverses for the better.
Tron blockchain competes with the big boys
It is hard to disregard the impact TRON is having on the industry and the competition it gives to other blockchains like Ethereum and Bitcoin. The network has over 1000 nodes across the world making it one of the most public blockchains with over 1.47 million block height, with over 200 thousand accounts already active.
Furthermore, since TRON blockchain gained independence from Ethereum ERC20 standard, the network has gained popularity amongst most cryptocurrency communities as well as institutional investors across the globe. The rumored partnership of TRON Foundation and Alibaba’s AliPay may yet be the biggest story arising so far from TRON. Justin Sun, CEO of Tron Foundation has been seen regularly with his mentor, Jack Ma, the CEO of Alibaba and talks of a partnership from either of the companies will spark a wild run upwards in the price of TRX.
The Tron Main net in 2018
Tron also boast a superior transaction platform and smart contract technology that allows developers on to create decentralized applications (DApps) on scalable, cheap and fast platform. The Tron Super Representative Elections are at the moment a sensitive topic amongst most Reddit crypto communities as some see it as rather centralized with most of the delegates spots are occupied by sharks.
Others view the problems as a starting point to the networks governance, but in time as more delegates are selected, so will the decentralization spread.
Tron (TRX) currently trades at $0.019923 USD representing a slight 2% rise in the last 24 hours.