The cryptocurrency market is not in good shape at the moment. Several cryptocurrencies have fallen in value due to the recent cyber attack on a Japanese exchange. Tron is not an exception. Tron has also suffered along with the entire cryptocurrency market. In fact, Tron has been struggling for a while now leaving many believers to turn into doubters.
Tron had a great 2017 growing almost 2700% at one point reaching an all-time high of $0.27. However, it was alleged that Tron had plagiarized its whitepapers (which hasn’t been completely proven yet). The news of Tron’s whitepapers spread like wildfire from which the currency has found it hard to recover from. The currency currently trades for only $0.05. However, despite what has happened in the past, Tron is a good investment for a good number of reasons.
It’s listed in many exchanges
Tron’s value might tell a different story about the currency, however, the number of exchanges that let you trade with Tron is constantly increasing. This only proves how exchanges also believe in Tron being successful. One such exchange is Cobinhood. The unique thing about Cobinhood is its promise of free cryptocurrency trading. Thus, this exchange will likely blow up with customers in the future which would eventually get Tron the attention it deserves as well.
Cobinhood is still a relatively new exchange. However, TRX has also been added to the popular exchange Bitfinex, one of the highest ranked exchanges in the world. Bitfinex is also known to be the exchange that hosts large-scale investors. Tron would receive a huge boost in such an environment.
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Moreover, Justin Sun, the man behind Tron recently announced that Tron is now also listed on Huobi.pro. This exchange is also one of the leading exchanges in the world as it’s ranked 6th.
#TRON #TRX $TRX is listed in https://t.co/EW9BQuKLYP now! https://t.co/OrzBriVmQz @Huobi_Pro is one of the world’s leading blockchain asset trading platform and ranked #6 on @CoinMarketCap with 1 billion daily trading volume. #BTC #ETH pic.twitter.com/b69HycgJT9
— Justin Sun (@justinsuntron) January 29, 2018
As Tron gets listed on more and more exchanges, the more exposure it gets. Once more users have access to Tron then eventually the demand will increase which would bring Tron back up.
Tron keeps announcing new high-profile partnerships
Despite the huge blow that Tron suffered a month ago, CEO Justin Sun hasn’t been rattled. Sun remains as optimistic as ever and its reflected in his work ethic for the currency. Tron is constantly announcing partnerships with high profile names. Around the same time during which the white paper allegations were put forth, Tron announced a partnership with Baofeng. Justin Sun described Baofeng as the “Chinese Netflix” which has over 200 million users.
Most recently, Sun announced partnerships with Mico, Kitty Live, Waka, Yay, and GSC (Global Social Chain). All of the partners of Tron have millions of users, for example, Mico is a social platform with over 100 million users. A cryptocurrency can’t be called a failure on the grounds of only a price decline. With Tron continuing to get more high-profile partners, much more users will be able to know about Tron as well as be able to access it. Therefore, making Tron a highly demanded cryptocurrency.
#TRON has built a strategic partnership with Mico, Kitty Live, Waka, Yay, and GSC (Global Social Chain). Mico is a stranger social platform with 100 million users and Kitty Live is a streaming Apps in Southeast Asia with 20 million users. #TRX $trx https://t.co/N5vRCX9Ov8 pic.twitter.com/sVZouwdWmr
— Justin Sun (@justinsuntron) January 27, 2018
The coin burn
There has been a planned coin burn in March 2018. A coin burn is a significant reduction in the circulation of coins. Therefore, it’s best to invest in TRX right now when the price is low and coins are in high circulation. It’s simple demand and supply: when the supply of a commodity falls, it’s price increases. Therefore, the coin burn may result in a decent profit for investors as the currency is as cheap as $0.05 currently. However, don’t expect the price to surge massively to above a dollar but perhaps close to its all-time high or a bit more. It’s still a decent profit for long-term investors of the currency.
The loyal supporters
Despite being a relatively ‘new’ coin, the digital currency has very committed and loyal supporters. If you look at Justin Sun’s twitter posts, you’ll notice that a lot of them are retweets of the currency’s supporters. The currency also has over 15,000 members on the main Telegram group. Tron was only released in September 2017, thus, to see it grow to over 15,000 members in such a short span of time is astounding. It clearly shows that a large number of people believe in Tron and haven’t just invested in it thinking they’ll get lucky with this coin.
Tron also looks to capitalize on the Chinese market. Tron aims to be a source of decentralized media which could target millions of customers in China. It was a step towards that target when Tron announced its partnership with Baofeng. If Tron is able to win over the Chinese media users, then it’ll be soaring in no time.
Perhaps the key to Tron’s success in the future: Justin Sun. He’s the CEO of the digital currency who’s more than qualified to do his job. The idea behind Tron that Sun has proposed is innovative and revolutionary: to provide a decentralized media platform that lets artists post their content without having to go through the restrictive processes they currently need to go through. Sun wants to make life easy for content creators by making a hassle-free platform.
Sun is also very committed towards his work. He is constantly active on twitter making all sorts of announcements for Tron. His activity feed is either retweeting fan tweets or announcing new partnerships or listings on coin exchanges. A man with his commitment and drive is a rare find. He’s dedicated to making Tron work and has the support of many social platforms that will help him achieve the decentralized media platform he seeks.
Moreover, the man needs to be given credit because he has not been shaken by the whole whitepaper scandal. He has remained optimistic and has been firing on all cylinders. This attitude of Sun will eventually bring Tron its well-deserved success.
Apart from all of this, another great quality Sun possesses is his ability to market anything to the public. One of the main reasons Tron became so popular in such a short span of time was due to the way Sun was able to market it to the public. The man can sell almost anything to you! Such marketing skills can also hide any development or technological weaknesses. If technological or developmental weaknesses of the currency remain hidden, then its easier to rope in more people through clever marketing. Then the extra revenue generated by more people can be invested into improving the currency’s technology. This is a wise strategy that works only if done right and Sun has definitely got it right.
Tron has already proven itself last year. It received a minor setback a month ago but with a committed team and CEO along with the rest of the reasons mentioned above, Tron will rise again and perhaps reach even greater heights in 2018. Therefore, one should invest in TRX now when the coin is cheap, otherwise, it’ll be another opportunity wasted.