After facing many controversies in the recent times, Tron has managed to get its place back in the market; the value has surged up to 50% over the past 3 days.
Newbie cryptocurrencies have found it hard to compete against the old rival ones. This is simply because the old ones are pretty much set right now such as Bitcoin or Ethereum, and people, mainly investors are more accustomed to them. On the contrary, TRON (TRX) is a rather recent cryptocurrency which has broken the odds and is set on the path to becoming something like what Bitcoin is today.
The question which comes to one’s mind:
What actually is Tron Coin?
The pioneers behind this crypto-currency are none other than the name implies, Tron Foundation. It is Singapore based and widely known. Some currencies like Bitcoin use ‘miners’ to aid transactions while this cryptocurrency revolves around an open decentralized peer-to-peer platform. For the layman, or common people like us, simply put, there isn’t any third party involved i.e. users rely directly on each other.
To put it even simpler, without the middle-men involved, transaction times are sure to be quite less compared to other cryptocurrencies, in which for instance if you have to buy, you would have to wait for a certain period of time.
The perks of using Tron Coin isn’t just limited to this. There are more as well. TRON foundation offers data liberation. Thus, the data is free and uncontrolled, putting investor’s mind at ease. Moreover, courtesy the content enabled ecosystem, its easier to get digital resources from content as well. Not only this, if you want to deal your digital currencies, there is a private ICO for that too. In addition to this, market forecast and games etc. pertaining to the digital world, also forms the part of a huge internet infrastructure offered by the foundation.
Reason behind the sudden TRON Boom
If you see the trends, TRON seemed to be a very calm currency, with slow yet constant growth. Last year, it started somewhere off even below $0.01. Now suddenly out of nowhere, on the 10th of December, it was witnessed that, that there was a steep surge in TRON value. It amounted to $0.286607, breaking all its previous records. This came into account this year on the 5th of January.
Now that the prices are back to normal to a current $0.04, it’s rather stable around it. Now to the reason, why it is gaining attention, it’s pretty simple.
When currencies like Bitcoin experience an economic boom, it might not be in people’s mind, that it is actually overpriced, but investors think like that. They know when a thing is overpriced, and start selling it to bring the price to normal.
On the contrary, this cryptocurrency doesn’t seem to be overpriced at all and shows a lot of promise in the future, based on its stable trends throughout.
We hope that the hype around the currency continues and also that other crypto currencies emerge into the market as well so that people and investors realize the potential the crypto-world of the future holds.