Can We Predict A Tron (TRX) Rally As We Approach the Tron Independence Day?
The Tron (TRX) project evidently has grabbed the global spotlight for the past few months. It all began with the release of the TestNet on March 31st. Then there was the release of the MainNet on the 31st of May. The MainNet release was actually moved up and released at an earlier date than earlier outlined in the project’s roadmap. Initially, this was meant to happen on the 1st of July.
With the MainNet launched on the 31st of May, three major events are what awaits the Tron Community in the next few days as outlined below:
TRX token migration from the 21st to the 24th of June on the numerous exchanges. A permanent token swap platform will be available on Binance for users who will not make the deadline on the 24th of June.
Tron Independence Day that is less than 4 days away. The Tron Foundation has already provided an online guide to the event
Super Representative Elections on the 26th of June
Therefore, with these 3 major events in the coming days, is it possible to predict a TRX price rally as we inch closer to each?
Earlier on in the day, Justin Sun had noted via twitter that TRX had edged out IOTA from the number 9 spot.
IOTA has since reclaimed the spot but the difference in market capitalization between the two crypto assets is currently approximately $41 Million. This means that as we inch closer to the Tron Independence Day, TRX will edge out IOTA once again. Justin Sun’s goal, is to see Tron (TRX) become a top 6 coin once again.
Analyzing the performance of the token over the last seven days, indicates that TRX bottomed out on Monday, June 18th, when it was valued at $0.041. The token is currently valued at $0.048 indicating a 17% increment in 3 days. TRX had also reached a recent peak of $0.0505 on Tuesday, June 19th.
Summing it all up, the big questions moving forward are, will TRX manage to stun the crypto markets with a continuation of this rally up until the Super Representative elections on the 26th? Will we see the value get to the elusive $0.10? Or will it be a false take off influenced by the Coinrail and Bithumb hacks?
Disclaimer: This article is not meant to give financial advice. It is an opinion piece. The opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.