Latest Tron News

Most intriguing about Tron as a project is their multi-faced, multilateral approach. While they strive to make the world a better place via blockchain, they are also caught up in a race for supremacy. On one hand, they are more dominant Ethereum which despite market downturns continues to draw developers who prefer the legacy proof of work systems save scalability concerns.

#TRON breaks two records today! 2.53 MM Txs per day and 32,284 daily increase address! More developers from #EOS and #ETH have migrated to TRON! #TRX $TRX pic.twitter.com/6siaP4hw61

— Justin Sun (@justinsuntron) December 14, 2018

Read: PAX Surpasses $5 Billion In First Quarter Since Release As Stable coin Market Continues To Thrive

But at the pace of development, this might be changing and very soon Tron might be a dApp arena of choice for developers. After all, Tron is better, faster and as reiterated by the platform’s founder is “very” cheap.

That’s not all, various milestones as the launch of their Virtual Machine—which by the way is compatible with Ethereum has made it easier for Tron account holders to issue tokens just for 1024 TRXs. Token issuing is pretty straightforward and there are two categories—TRC-10 which is native to the platform and TRC-20 for smart contracts.

Also Read: TRON Announces 70 TRX Investors Will Be Awarded Exclusive Blockchain Cuties In-Game Items

Of course, this is the kind of development the community is desirous of. Add that to incentives and Tron inroads to the multi-billion gaming industry via Arcade and it’s a sparkling future. But, amid the dropping prices, a take away is the rate of adoption, the dedication of the platform towards development and the support Tron has on the community. In less than eight months, Tron has seen account numbers swell and transactions spike surpassing those of EOS and Ethereum. This is overly positive more so for TRX hodlers.

Not surprising, TRX is the top performer in the last week adding close to three percent. Better still, it is very steady in lower time frames and though prices continue to slide to new lows, we expect a recovery as the year draws to a close.

Note that TRX is down >85 percent from 2017 peaks, trading within a bear breakout pattern after crashing several supports throughout the year. Now, it’s only natural for prices to snap back and correct higher. For that to happen—and as reiterated in previous TRX/USD trade plan, bulls must build up enough momentum and edge past 1.5 cents—previous support now resistance.

Assuming it prints, this surge must be accompanied by volume spikes showing support in lower time frames.

Here, TRX/USD is consolidating and it’s a disarray to say the least. None of our last trade conditions have been met and until there are moves above 1.5 cents—1.7 cents resistance levels as laid out above, bears are in control.

But, with the optimism around the space and on-chain development and partnerships, odds are TRX/USD will expand drawing interest/demand.

If not and there it will be a slide back below 1 cent towards Jan 24 lows.

This is how our TRX/USD Trade plan will be assuming there are gains above 1.5 cents:

*Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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