Tron TRX Holds Its Course In A Difficult Market

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Tron’s MainNet Launch has arrived, and it was a huge event. It succeeded in both technology and public relations, but it did not send the TRX coin price over the roof as Tron Hodlers wished, so it’s been something of a disappointment in that respect. Even worse, it seems to have been going down recently so Tronix has been called into question and some people have become unsure about it.

Tron’s Tronix current market status

While it’s true that the Tron’s new MainNet launch has not given the coin the momentum investors would like, this has nothing to do with Tron itself (the foundation, or the technology, the net or even the currency) but with the fact that the cryptomarket has been fluctuation wildly all year long. Last week alone 98% of all coins traded in the red.

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Then there was the Coinrail hack, also last week, in South Korea. That didn’t bring confidence into the market, naturally, and almost all cryptocurrencies in the world fell even further.

So the general environment and fears that dominate the crypto world recently have affected Tron’s price and have kept it going down. But even in that context, it remains the world’s eleventh cryptocurrency with a USD three billion market capitalization.

Tronix has lost around 40% over the last month which translates into a USD 2 billion loss for Tron, but this has not affected the Tron Foundation’s determination to keep the project moving forward and believing in its future.

Justin Sun purchases BitTorrent

When it comes to Tron, it’s always about its founder and CEO Justin Sun. Last May, TorrentFreak reported that Mr. Sun was just about to acquire RainBerry Inc (formerly known as BitTorrent), the organization that created the torrent protocol which allows for decentralized, peer-to-peer file sharing over the internet. It is an idea very close to Mr. Sun’s heart. The potential acquisition has been in the news, and it’s been a source of all kinds of rumors, controversy, and misinformation.

Just last week Mr. Sun registered a holding firm called “Rainberry Acquisition” a few weeks after it sued Rainberry to ensure that his bid for buying the company would remain unchallenged by any other parties. Mr. Sun dropped the lawsuit, and it’s now official news that Tron’s CEO and founder is BitTorrent’s new owner, which can only further Tron’s goal of building a fully decentralized internet, especially when it comes to the entertainment content BitTorrent has always been better known for.

Tron’s partnerships

Tron also keeps scoring critical successes when it comes to achieving meaningful partnerships. Their latest one is a breakthrough association with Shift Markets, which will be using the Tronix cryptocurrency to brokerage different currency markets. It will guarantee that TRX will be traded across nine countries by brokers.

The Tron Migration

Now the MainNet is online and the next Tron milestone is to move the TRX tokens away from Ethereum’s ERC-20 tokens which is scheduled to be completed shortly. Several of the world’s most crucial exchange and trading platforms have already confirmed they will support the token migration, among them, are Binance, Bitfinex, Bibox, Bitforex, Bithumb, BITKOP, Bittrex, Bixin, Bitpie Wallet, BitPro, Bit-Z, Coinegg, Coinnest, Coinrail, Cointiger, OTCBTC, RightBTC, DragonEX, Gate.io, uobi.pro, LBANK.io, Upbit, WazirX, Liqui, OEX.com, OKEx, and Zebpay.

Tron owners and aficionados should be moving their tokens to one of those platforms before the 21st, so the token conversion takes places successfully. Keep in mind that Tron transactions will be frozen on the 22nd and the 23rd and the old ERC-20 will become invalid on the 24th.

Things are happening for Tron and its current unimpressive performance should not scare well-informed investors away.

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