Tron is one crypto project that attracts love and hate in equal measure. Most Tron haters believe that it is a hype coin that is probably headed nowhere. However, the project has so far proven itself to be worth its salt. In spite of the crypto bear, Tron has maintained its position among the top cryptos by market cap. At the moment, it is doing a flip-flop with Monero (XMR), and a few hours ago, it was ahead before it fell behind.
With the high volumes that are coming into Tron (TRX), chances are that it could beat Monero (XMR) and hold its position above it. Beating Monero (XMR) on market cap rankings has wide implications for Tron (TRX) both in the short term and in the long run.
In the short-term, it could play a major role in driving up volumes in Tron (TRX) and drive up its short-term demand. That’s because Monero (XMR) is not some random shit coin on coin market cap. This is one of the most recognized and used privacy coins in the market. Monero (XMR) also has a high reputation for its fugibility, which is a feature that makes it money.
Its value is mainly based on real usage, even though it is a speculative asset, just like all other cryptos at this point. In essence, the fact that Tron is threatening to dethrone it, in a bear market, is an indicator that Tron (TRX) is no pushover. It is a crypto that has a strong community backing it up. It may not be doing well in terms of price, but that is not something that is unique to Tron (TRX). Even bitcoin has taken a major hit in 2018 and has seen its value plummet by over 70%.
In the long-run, the fact that Tron has maintained its position among the top cryptos in this bear market could draw in major investments. That’s because as the bear run comes to an end, the top cryptos will begin to attract in most investments both by retail and institutional investors. By proving that it is a top cryptocurrency, Tron will also draw in more Dapps developers and help grow the Tron ecosystem. Developers would not move to a Dapps blockchain that has weak long-term prospects. This may explain why Tron has seen an increase in the number of Dapps developing on its ecosystem. In 2018, the number of applications running on Tron has grown, including payments applications and games. As blockchain technology becomes more accepted in society, Tron based applications will increase, and drive up the value of this blockchain.
With such good prospects for growth, Tron is a solid long-term crypto hold. It has the potential to grow to $1 in the future. Blockchain technology is growing, and is here to stay, as can be seen by its adoption by major corporations. As it grows, strong projects that offer real value in society will grow as well, and Tron (TRX) is taking its position as one of the best projects out there.