The recent crash that saw bitcoin hit lows of $5200 on some exchanges has shaken the market. There are coins that have seen their values tumble significantly, and have dropped hard on market cap rankings. Under these market conditions, the last coin investors would expect to hold its value is Tron (TRX). After all, it is often considered a hype coin, with a very high coin supply. However, these attitudes may change considering that Tron (TRX) has held on well in the latest market crash. Not that it didn’t lose, but it was definitely not among the biggest losers this week, and it is still 11th on market cap. This can lead to a number of inferences about Tron (TRX).
The first one is that the Tron community does believe in Tron (TRX) as a long-term investment. That’s why even during the recent crypto meltdown, Tron (TRX) held on to its value all through the crypto meltdown that was triggered by the bitcoin cash hard fork. If the Tron community didn’t believe in Tron (TRX), the selloff it would have experienced this week would have been epic. Investors would have preferred to short it and make a killing from the ensuing sell-off. But most people actually held on to their coins, which is why the selloff was within average, unlike most altcoins that have dropped hard since that meltdown began.
Secondly, it shows that Tron (TRX) does have a strong use case. For the last couple of months, Tron transaction volumes have been rising, and consistently stayed ahead of Ethereum (ETH). This has often been dismissed as due to the rewards for super representatives.
However, the reality is that Tron (TRX) transaction volumes have actually increased due to the growing number of Dapps in the Tron (TRX) ecosystem. Tron (TRX) has seen an increase in Dapps in the last few months ranging from payments applications to online games. All these are adding significant volumes to the Tron blockchain. This explains its relative stability even in a market-wide meltdown. It proves that contrary to popular perception, Tron’s roots in the Dapps ecosystem are getting stronger.
This is a good reason to be long-term bullish on Tron (TRX). That’s because, if Tron (TRX) continues on its current trajectory in terms of marketing and Dapps growth, its value in the market will rise as well in the long-run. It also means that once the Bull Run returns to the market, the value of Tron (TRX) will rise exponentially. Justin Sun may not be a hype man after all. He is just a guy who is good at marketing and is marketing a product that is already strong in the market.
The future of Tron (TRX) is getting better with time. This is a coin whose possibility of hitting a dollar in a bull market is quite high. It’s a project worth keeping an eye on going into 2019. At current prices, it is most likely a higher potential coin when compared to bitcoin (BTC). It has more room for growth.