TRON (TRON) is one of the few cryptocurrencies that is currently standing taller against an uncertain market environment. TRON is a blockchain technology platform that offers safe infrastructure necessary for sharing entertainment contents – with an ambition to become the leader in the entertainment ecosystem.
The potential launch of test net is among the significant contributors to its price uptrend. Market participants are betting strongly on the start of test net from TRON.
The bullish analyst says, “The bearish trend line is now broken at it seems like it will moon. TRX will soon dominate the showbiz and expand even to other industries as well. With the testnet launch, we will be seeing it go onto 2000 Satoshis.”
TRON doesn’t have its blockchain, and it has to depend on Ethereum (ETH) blockchain. Although the full launch of its blockchain will take place later in the year, TRON is likely to have its own test net from the end of this month. Market pundits are predicting the potential upside in TRX coin price if the company remains successful in launching test net.
TRON Soaring Despite Unstable Environment
The emerging crypto market has been in depression due to its unregulated nature; advertisement companies and regulators are bashing trader’s sentiments on concerns regarding the massive involvement of criminals and scammers in crypto markets.
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TRON, however, rebounded sharply in the last two weeks after hitting four months low of $0.023 in mid-March. TRX coin rose more than 10% on Wednesday and 4% on Thursday, extending the seven-day bull-run to 27%. Trading around $0.048, TRON price doubled from its four months lows of $0.023 it hit almost two weeks ago.
The latest uptrend in TRX price has led it to take the number 10 spot from IOTA; TRON’s market capitalization of 3.18 billion surpassed Monero’s and IOTA market cap of $2.9 billion and $3.0 billion, respectively. Justin Sun, the founder of TRON, looks significantly optimistic for further upside and to get the permanent place in the top-ten crypto coins.
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Sharon is a journalist based in Durban, South Africa. He has years of experience in writing for a number of print and digital platforms, ranging from sport to technology and of course, Cryptocurrencies.