Tron holders are feeling the pain as a lethal bear market wreaks havoc on the crypto world. But recent TRX announcements suggest it will bounce back sooner than people might expect.
It may be hard to believe, but since the heady highs of January, the crypto market has lost more than $500 billion in total market capitalization, now sitting at roughly $290 billion according to CoinMarketCap.
And despite all the positive news surrounding the Main Net release, Tron has dropped almost 50% in just over 2 weeks with a current price of around $0.04.
Understandably, some Tron holders are finding the current price dive tough to stomach:
Only a partnership with Jesus christ himself can save us rn
— Jeweler $trx (@JullietGrate) June 14, 2018
Yet, there’s still a lot to be positive about if you’re holding TRX.
TRX and the future
Currently, cryptocurrency prices are still tethered to the fortunes of Bitcoin. If Bitcoin dives then it’s more than likely the rest of the market will tumble along with it.
Once a coin has a value proposition strong enough to be considered in its own right, its price will move independently of market swings. Arguably, TRX has every reason to be this coin.
Tron has recently released DApp, an open-source Tron wallet that coincides with its release of the Main Net proprietary network earlier this month.
The team is proud to present TronWallet, an open source crypto wallet like you never seen before! @GettyIO developed the project and got rewarded during our Programming Contest. Watch the demo, download the app and check out its capabilities 👀 https://t.co/toPMiFKfWP
— Tron Foundation (@Tronfoundation) June 13, 2018
The wallet provides a fast, reliable and secure way to sign contracts and transactions on the blockchain as well as storing TRX safely and securely.
It’s a very good sign that the Tron team is working so hard to build their own technology. Ensuring that all tech is proprietary is a significant step towards creating a currency that is stable, trustworthy and most importantly, usable in the future. This is key to creating value that will sustainably drive the price of the coin up over time.
Tron is well-known for its many partnerships. True to form, there are also reports that Tron may be gaining support from notable hardware wallet, Ledger.
— ⌥Thє Pєrfєѕѕєr (@_theperfesser) June 14, 2018
Furthermore, Justin Sun’s recent acquisition of BitTorrent shows that Tron truly is a long-term project with ambitious goals. Not only is BitTorrent a media-sharing platform – which provides infrastructure that aligns with Tron’s core goal – but it is also a global platform that will give Tron worldwide publicity, instantly.
Tron independence day is on the horizon, which is when the Main Net migration becomes permanent. This marks a crucial moment for the Tron project, the day where the digital token takes control of its own destiny. The market may be in a lull at the moment but it’s undeniable the long-term future of TRX is bright.
— Justin Sun (@justinsuntron) June 14, 2018