TRON listed as $TRX is a startup led by Justin Sun, a young entrepreneur that has seen success. His recent project TRON is a coin-backed company that specializes in a blockchain-based decentralized protocol in order to create a worldwide free content entertainment system. Peiwo is an app that will utilize TRON and will offer TRON-compatible entertainment to its 10 million users. The Tron Foundation that is set up with the approval of the Accounting and Corporate Regulatory Authority (ACRA) and under supervision and regulation of the Company law of Singapore; has been attacked and called fraudulent after the coin saw a massive rally reaching an ATH of a little over 25 cents. The Tron Foundation has been marked as “vaporware” by many of reliable sources, yet they are looking at the organization in a fundamental way and not thinking about how the structure and management will influence the success of this company. Yes, their white paper may be forged, plagiarized, etc., but this doesn’t completely tarnish the ideas and the team TRON has. I think it is fair to say that Justin Sun is reputable and has many strong connections in the world of technology. A whitepaper can only take a project so far, just because a project has an above average whitepaper does not mean that the project will see success. It is more about the team and how well the project is managed and how much “content” it can produce WITH the whitepaper as its blueprint.
The Year Of The Dog
TRON Dogs will be comparable to the [so far] successful Crypto Kitties game. TRON Dogs is a new blockchain-based virtual game from Tron Labs using the digital currency TRONIX (TRX) to purchase virtual dogs that you can raise and trade with your friends. The idea derives from Ethereums “Crypto Kitties” and is honoring the new Chinese year, The Year of The Dog. Justin Sun once again plays his cards well, in taking advantage of the marketing/business opportunity. Tron Dogs will make it possible for owners to buy certain dogs with a goal intended to breed with other dogs with different characteristics which could, in turn, produce a dog with rare features – allowing people to sell for $TRX. People pay to breed with your dog if it is unique and that’s how users make a profit.
The game is currently live in China only. The dogs are currently selling for 200 TRX and are increasing as the game becomes more popular. For the time being, you can navigate the Chinese site using google translate, with the English version coming very soon. With the English version soon to be released, we can once again expect a drastic price rise if we were to look at not only Trons historical data but also Ethereums. If Tron can scale better than Ethereum when they released Crypto Kitties we might even see a more significant percent rise in TRX.
$TRX at this moment has a market cap of $7,996,097,924 USD is currently down within the last 24 hours roughly -21.59% and is trading at approximately $0.12 cents taking a massive fall after hitting an ATH of $0.26 cents over the course of the last week. This drop is completely healthy for Tron being that it rose nearly 1,000% in the last week alone. We can expect the price to stable soon if it wins the battle of FUD it is currently facing. The market seems to not respond well to negative news going against certain “alts”. Furthermore, once the price does regain its balance we should see another pump or increase of the price after the long-awaited announcement of Justin Suns NASDAQ traded company who has partnered with Tron Labs. In all speculation, we can consider this partnership to be a mobile app or technology company that has quite a large market base. Being that Sun plans to “post up” shop in San Francisco which is about an hour away from Cupertino (Silicon Valley) we can expect this company to be a key player in TRON’s success. Upon further research it could technically make sense for Tron Labs to form a partnership with Apple, being that $TRX is used as a form of payments for mobile apps and Apple has one of the largest application stores in the world. Of course, it’s a reach but in the world of crypto, it seems like anything is possible.
All in all, we can see TRON surviving its first ever extreme FUD cycle with the help of Justin Sun who has proved himself more than capable of running a project as large as TRON. However, only time will tell and for those invested in $TRX already, stay strong and HODL. You can’t expect a coin to move that quickly in price without a slight correction and some negative news.