Dear Steemit friends,
TRON (TRX) rose over 100% in April 2018.
Market capital of TRON just broke into top 9 of crypto currency (https://coinmarketcap.com/).
I prefer to write fundamental analysis rather than technical analysis for TRON, the reason is rising price of TRON is affected by demand that caused by issue, news and social media. Biggest factor of supply is determined by TRON's developer because TRON is premined cryptocurrency, supply of TRON is controlled by TRON's developer. Market issue will not be reflected by chart that is why fundamental analysis is better than technical analysis.
TRON currently is just whitepaper and testnet. They do not have real product. The real product or the main network (mainnet) will be available on 1 June 2018. So what makes its price rising is expectation of the trader that price willcontinue rising. Any good news will make the price continue rally. So what is the news ?
1. Supported Exchange
TRON is supported by major exchange (Bittrex, Binance, Bitfinex) and more than 50 exchange suppport TRON trading. To be listed in major exchange, coin creators are charged up to $ 1 million per ICO. If they are listed in 10 major exchanges, it means they have spend $10 million. (Source : https://www.businessinsider.sg/cryptocurrency-exchanges-listing-tokens-cost-fees-ico-2018-3/?r=UK&IR=T)
It is good for trader no matter coin is real or not because they will pump the price to make return on their investment
To see the list of exchange you can open this link
https://coinmarketcap.com/currencies/tron/#markets
2. Initial Coin Offering (ICO)
In 2017 ICO Tron was able to raise $70 million (source : https://icodrops.com/tron/) . They have sold 40% of total token and currently TRON market capitalization is USD 6 Billion. They still have 60% of token. so they have token with value 60% x $6 Billion = $3.6 Billion. They cannot sell all the token because when the supply is bigger than the demand the price will drop. So they have to increase the demand before the mainnet available. The only way to increase demand is showing good performance on chart so they have to pump the price and sell their token to get more capital.
According to their press release they will not make additional TRX issue, it is good news since more token will make the token worthless.
3. Migration to main network
TRON only support exchange for migration from ethereum token to TRON main network. It could be a big problem when they have problem on migration. If you have tron on your ethereum wallet it will be worthless because after the main network available the TRX token is burned.
https://medium.com/@Tronfoundation/answers-to-frequently-asked-questions-of-tron-738b4653758a
4. Social Media
TRON maintenance their existence in social media. Currently social media is weapon, when they spend money on social media marketing they will get more exposure and get more demand.
Source : https://solume.io/
5. Whitepaper
TRON's whitepaper is copied. Vitalik Butterin (Ethereum developer) mentioned in Twitter that TRON's whitepaper is copy paste. Whitepaper is all about product, it could be that TRON is not as good as what they write on whitepaper. So I am not consider TRON for long term trading. I just want to make short term profit.
(source : https://twitter.com/justinsuntron )
(source : https://www.trustnodes.com/2018/01/08/TRONs-whitepaper-copied-plagiarized)
Main network of TRON will be released on 1 June 2018, no matter it will be success or not the price will rise before 1 June 2018. So I still hold Tron until end of May 2018, I am not a risk taker so I am going to sell it before the mainnet release.
If you have any comment please feel free to write comment. Please follow me to get the latest analysis.
Lets ignore the fact that they pumped a partnership with themselves, or that they plagiarized a good portion of their whitepaper and that the product they are touting is all theory.
After 3 shots of Tequila I experience a shudder.
in the crypto world they call that "borrowing"
Yea how’s that for fundamentals? Lol
😂😂🤷♂️
Their partnerships and resources are pretty damn good though lol @crypto2crypto
Let’s see what comes of it.
Yup! Only time can tell lol @crypto2crypto
So true, but a lot of crypto is just trading volume right?
Sweeet
Great fundamental analysis on TRX. Any price targets/predictions? Looking for new ATHs?
Thanks for the nice analysis.
Solid, good job
TRON (TRX) is good crypto currencie, good luck.
very informative!
what I liked the most is your preference on fundamental analysis.
I took your comments in to deep consideration for the big picture.
but for short term investment and day trading, I prefer to wait to buy @ 0.00000911
goodluck and keep up the amazing work
Begin thr trx march!
I sold my TRX too early at 550 sats. Sigh.
what do you mean too early?? you can still buy back in.. #TRX tron still has a log ways to go and that's up ..lol buy sell, buy sell.. that's called trading.. :D
Could still be a good buy. But I don't like chasing green candles. Might get back in on the next red one. :)
Agreed!! @pinkinside
Remember when Ripple was at .15 cents!!! Look at Ripple now! @michaeljpsalazar
I know, I had tons of XRP way back june which I sold too early too.
the power of tron
@redstrawberry Good coin with long term prospect. The upcoming main network has helped my trade very nicely.
I would have the same idea about TRON.
Thanks @saing, that is great
Join me on discord https://discord.gg/Wamthbe
This project is very useful for all & thanks a lot to share this content with us.
i got some tron in a free air drop, $50 for nothing lol
It's certainly a promising project. As with all things, time will tell...but the potential is there. Resteemed
Promising and popular project! Justin Sun is incredible. The amount of partnerships this man has is incredible! @rjet
Yes indeed. Justin has done well. He's a talented young man.
Great analysis, thanks for sharing. I've smashed the upvote button for you!
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Good point @sylaba25
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Steem is more better than trx Steem is a future of bitcoin
Yes @beautifulplaces, I absolutely agree, Steem is better because we can use as social media platform, but what i was written is about opportunity to get profit
That is what tron is do8ng also, wait untill mainnet release
La Plataforma steemit, se ha mantenido, por lo tanto la considero hasta ahora la más confiable.
Great article.
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https://steemit.com/cryptocurrency/@comedycults/indian-law-protects-cryptocurrency-investors-despite-lack-of-regulation
a new Star is born. Pleace make not so fast
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Thanks for this nice post.
Great technical analysis on Tron. I'm currently invested in Tron. I wish I bought it when it back at $.02 in the beginning of April ): @redstrawberry
Not a good product indeed, it seems. But for a short-term profit - why not? Just keep an eye on the calendar ;-)
very interesting article!...thx:)
It's certainly a promising project.
Hello! Good article! I'm interested in the them of ICO and crypto-currency, I'll subscribe to your channel. I hope you will also like my content and reviews of the most profitable bounties and ICO, subscribe to me @mileplatform
There will be a lot of interesting!
Superb analysis ! Carry on. I'm waiting for your next analysis
I haven't really been into TRX, but finally brokedown and bought some back when they launched Beta. It immediately dipped so I ditched the coin as soon as it was the tiniest bit profitable..... aaaaand of course, now it has doubled.
FML
Hi!, exellent post!, here more news of TRON TRX
https://steemit.com/cryptocurrency/@jmbdesign/tron-trx-and-its-latest-updates-attract-the-attention-of-new-investors
Thank's for the content. What's your opinion on BCH and the hard fork on the 14th May?
I've sold about 60% of my stack in case of price crash before a whale pump yet again 2 weeks from now. I think its a good idea to sell this one on May 28th - 29th since I think large players will start to the dump early. Hoping for some more gains with my remaining stack.. 1500-1800 sats is possible.. I just think it's funny that having a working product on a 5+ billion dollar valuation is price action.. it should just be a demanded expectation.
Very informative. Thanks!
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This guy is a hypocrite
Please Stop
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