No coin or token has been spared from the recent market decline that has seen the total market capitalization drop from $400 Billion only last week, to current levels of $324 Billion. Earlier in the day, this value had dropped to $303 Billion leaving a lot of crypto-traders worried. This market decline has also seen Tron (TRX) drop from $0.10 on April 30th to new lows witnessed on May 29th at $0.0574. This is a drop of 42.6% in a month. TRX is currently trading at $0.065 at the moment of writing this.
But Tron (TRX) is still a fan favorite and a safe bet for any investor out there willing to weather the ups and downs of the turbulent crypto-markets.
To begin with, the MainNet is finally here and will be released on the 31st of May. The MainNet will not do an immediate token swap but will undergo vigorous testing for 24 days up until the 25th of June when the Genesis block will be launched. This period of testing will allow for any security vulnerabilities to be discovered ahead of time to avoid scenarios such as the ones being experienced by EOS.
Secondly, Tron has just been ranked first in Github commits once again this week. The project now has 169 commits compared to its closest rival that has 117. This proves that it is a fan favorite. It is also the favorite of exchanges in terms of those which are willing to assist in the token migration on the 21st of June. The current number stands at 18 and is surely to grow before the 21st of next month. The exchanges are as follows:
- Bit-Z
- Bitbox
- Bittrex
- Binance
- Bixin
- Bitfinex
- Bitpie
- Bithumb
- Coinnest
- Coinrail
- DragonEx
- Liqui
- Gate.io
- RightBTC
- UpBit
- ZebPay
- BITKOP
- Bitpie
Thirdly, the project is being run by an enthusiastic young CEO, Justin Sun. He is a protege of Jack Ma and was the first to graduate in an University founded by Mr. Ma. The Hupan University recently held its first graduation with Justin being the first millennial graduate of the institution. This is a clear indication that Tron is in good hands.
Last, but not the last reason why TRX is still a safe bet moving forward, is the cheapness of the token. TRX is currently trading at $0.065 as earlier mentioned and available in 99 exchanges. This means that it has a wide reach in terms of trading platforms with more listings to come in the future. TRX will indeed be able to become a Top 6 Coin Once Again.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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