With TRON planning on releasing its own Test Net and having its price dizzily dropping while experiencing massive losses, this currency is in the center of attention for quite some time now. We are following up on what is TRON up to these days as well try to predict how this currency will perform in the days to come as the launching of Test Net is approaching, slowly, but steadily.
A Reminder about TRON
Starting with the main idea behind this currency, TRON exists with the purpose of helping the development and easy functioning of the entertainment industry. This term is pretty wide as TRON supports any type of media, including content, games, applications, videos, and even social media.
Although TRON was launched only a couple of months ago in September 2017, this currency has flourished during this short period of time, trading at the amazing price of 0.30$ per short after it was listed as ICO.
The most interesting part about TRON currency is that TRX aims at helping different people dealing with the entertainment industry to establish ownership over their intellectual property. Whether you are making music, uploading videos or dealing with online content, TRX is planning on establishing a blockchain-based network that would allow all TRON users to list their creations and acquire ownership over their intellectual property without having to submit to the policy and rules of any third parties like YouTube for example.
When you are uploading your videos to YouTube, the fact is that you need to oblige to the rules of the website and its policy in case you want to use their services. With TRX platform, all creators that are dealing with the entertainment industry would be able to easily establish their ownership. The only condition to gaining access to this feature is to own a TRX wallet with TRON units in it.
This being said, TRON is actually trying to remove the presence of any third parties, i.e. middleman, that appear in the entertainment industry. Those would be service providers like YouTube or Instagram. Thanks to the blockchain technology and the nature of decentralization, you can now rely on TRON for proving your ownership while being able to directly collect profit from your work without any hidden fees or third parties taking their share.
Test Net and TRON
TRON, a currency with the greatest number of partnerships acquired over a short period of time, is planning on launching its own Test Net.
So far, TRX was hosted on Ethereum’s platform, existing within Ethereum ecosystem and working on top of its blockchain network, but as of the end of the month, TRX will have its own blockchain platform.
The launching of their Test Net was announced to be launched on March 31st and from that point on, TRX will exist and work on its own platform. The fact that this currency is getting its own network says a lot about TRX’s progress as this novelty would leave lots of space for further progress. It is also needless to say that the launching of the Test Net will surely draw more investors into the story behind this currency.
One would think that the fact that TRX is getting its own platform while moving on from being an Ethereum-based token would affect TRON’s price positively, but it seems that the excitement about the Test Net being released has settled down.
Tron appeared as a massive success when it appeared in September 2017 while dealing at the price of nearly 0.30$ per one unit, rocking the crypto market. However, since those days there have been many changes so TRON managed to lose nearly 80% of its market capitalization.
TRX has managed to drop for 80% from dealing at 0.30$ to trading at only 0.05$ per one unit.
After the latest drop of -8.20% in the period of only 24 hours, TRON is now worth 0.04276$ per one unit. If you think that a bad case of series of drops in price can wipe out a coin, you are mistaken, because although TRX has dropped severely, this currency still has a chance thanks to its technological capabilities and the upcoming Test Net where TRX will exist on its own operating platform.
If you take into consideration that unlike Bitcoin or majority of coins and tokens, TRON is still pretty young, this currency has had an amazing breakthrough into the crypto market.
TRON is still listed as the 14th best coin on the global coin ranking list, and chances are that it could climb up the ladder of success further with the upcoming date of Test Net launching.
On the bright side of the story of having TRON losing 80% of its market cap, TRX is the number one currency in the number of partnerships, which this currency managed to acquire within a very short period of time. The bottom line is not to lose your faith in a coin of your choice just because it’s going through a rough patch with the market breakdown.
We will be updating our subscribers as soon as we know more. For the latest on TRX, sign up below!
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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Sam valadi via Flickr