Why A Bleeding Tron(TRX) Is Still A Good Buy

Tron (TRX) is among the most talked about cryptocurrencies that uses blockchain technology and is ranked 13 by market capitalization of $2.9 billion at the time of writing. Why are we talking about this cryptocurrency today i.e. 5th January is that, its price declined from $0.26 with market capitalization of $17 billion to $0.03

tron price fall

What caused this decline?

There were two main reasons to it, firstly  the speculations on the ban of cryptocurrency trading in India and secondly, Facebook, the social media giant had declared that it has removed ads promoting cryptocurrency and ICOs.

Even after such a decline, Tron has made a comeback with trading value up by 4% to a value of $0.042. It has recorded the largest trading volume in 24 hours of about $220 million! This decline was surely an attractive one for investors.

What is in store? Why is this coin so hyped?

Let’s get to the basics because when it comes to investing we need to look into all factors and not just follow the trend and herd.

Tron has the biggest ICO (Initial Coin Offering) on Binance, a digital exchange medium and is easy to purchase. The founder of Tron, Justin Sun has been Chief Representative and Advisor at Ripple Labs and is now ventured into his own cryptocurrency. So this wouldn’t be a fraud for sure as the founder himself is a successful individual with grand vision.

Moreover, this well qualified technical team aims to provide open-source global digital entertainment protocol where anyone can create content without any centralized authority. Good partnerships with the company also indicate better position in the market, and Tron has done that with Peiwo, Bitmain, UPLive, and Gifto, all of these apps have a user base of 1 million plus.

What future of Tron looks like?

Well, the currency saw 500% jump in January itself, and its reduced price now makes it quite tempting to buy right now, however investments decisions should never be spontaneous. While the current price seems to be great entry point, we cannot be certain if tron will dip more before a comeback. Let’s see how the price graph of Tron unfolds for the upcoming weeks.

 

 

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