Tron (TRX) is seeing significant gains on the cryptocurrency market today. Justin Sun, Tron’s founder, and the Tron Foundation have steadily tweeted[1] on the countdown to the test net launch. Tron’s test net is set to launch in just ten days and the community around the project are ecstatic.
The founder has been receiving heavy critique from the community as the coin hit a sharp record high with the rest of the cryptocurrency market but has since dropped significantly. Since its high of $0.259 a coin, it has dropped over -85%.
Many who got in on the cryptocurrency market at that time, had not actually researched any of the projects and simply bought coins based on their sudden spike in price. However, when TRX launched back in September of last year it did not have a “working” product. Many ICOs that concluded, had only a whitepaper and a vision but many new crypto investors don’t realize that its actual value comes when it has a working project in place.
As TRX continued to plummet, crypto investors were calling Tron a scam without doing any sort of research into their roadmap and foundational components they were setting up. Many of these blockchain projects can take YEARS to execute. However, Justin Sun’s tweeting coin “pump” tactics gave the community a bad rep, as he was announcing partnerships in hopes that the coin would rise. Still, the Tron Foundation focused on building a strong team and when investors are investing in an “idea” the team is absolutely crucial.
While the ICO space is a completely new strategy for fundraising for your startup, crypto investors need to do their research and understand what they are putting their money into. If the ICO just has a whitepaper and a roadmap, you’re investing and betting if the team behind the project can execute it.
The test net should prove if this highly stacked team of Tron Developers delivered or not. If the test net is deemed successful you could see a major spike in TRX’s price.
At press time, TRX is trading at $0.0384 a coin, up 20.21%, in 24 hours.
Concerns? Thoughts? Comments?
