The word on the crypto-verse is that the Tron (TRX) token migration is going along smoothly with some exchanges already releasing the new coins to HODLers. Some owners have even staked their coins for the Super Representative elections. It is these activities that have been responsible for the price stagnation of the coin. I believe it is time we started referring to TRX as a coin for it is on its own blockchain.
With the two reasons why TRX is going through a price stagnation, we find that the coin is currently valued at the relatively cheap price of $0.04 and up 7.75%. This figure is bound to increase in value as I shall elaborate below.
To begin with, the Tron Foundation recently confirmed the lockup of 33.25 Billion TRX in 1,000 accounts on the Tron MainNet. This move is similar to how the Ripple team locked up 55 Billion XRP in Escrow to guarantee that the supply of the coin would not suddenly increase by the company’s action of suddenly liquidating the coins it owned. This is so similar to what the Tron Foundation has just done. This means that once investors notice this, the price of TRX will most likely skyrocket like XRP did back in December when it locked up the coins in Escrow.
Secondly, Coinbase recently launched a new product for its institutional investors. This new product goes by the name of CoinBase Custody. What this service does, is provide a secure storage service for the digital assets of high net individuals as well as institutional investors. This means that Coinbase has solved the issue of crypto security for these individuals and firms who will in turn bring int the Billions, or even Trillions, of dollars into the crypto markets. Knowing how many investors think like Warren Buffett, they love a cheap buy. TRX is cheap right now. (Buffett vows not to touch crypto, but he might warm up to the thought when he sees ‘the fireworks display’ that is coming.)
A third reason why TRX will not be this cheap much longer, is that the MainNet has been working flawlessly since it went live with the Genesis block on the 25th of June. This means that all the ICOs that are coming up in the second half of 2018, will have a new option on the table. Knowing how ICO founders think, they love a new blockchain platform they can use to promote their ICO on. They go with the tide of what blockchain platform is hot.
2017 was the year for Ethereum. This year will be a tug of war between Tron, EOS, VEN and Zilliqa. May the best blockchain project with the best marketing strategy to succeed in wooing the best ICO projects. However, Tron seems to be ahead of the curve with this regard. Even Pornhub loves TRX.
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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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