Tron is about to make its massive move from the Ethereum blockchain onto its very own blockchain, bringing along a brand new TRX token which won’t be based on Ethereum’s ERC-20 token.
Anticipating the Main Net launch, crypto enthusiasts were expecting to see the TRX value move upwards. But now, recent market patterns have prevented this from happening.
Overall Tron looks to be putting a bad performance, especially considering all the hype around the Main Net launch and high expectations that stemmed from the event.
Backed by a young, professional, adaptable team, $TRX is officially in #crypto top 10, aiming for top 6. Stay tuned for 5/25 TronVM 2.0, 5/31 Mainnet, 6/26 SR Election, and more. 2018 is just the beginning. Watch us take the world by storm. #TRON https://t.co/1X0PNGKnEH pic.twitter.com/D1wqeMlmqy
— Justin Sun (@justinsuntron) May 9, 2018
Potential reasons for lack of interest in Tron
There are 15 more days until the much-awaited event, and things look as if no one really cares about Tron these days. One reason for this may be the fact that investors could e worried that the launch would fail and they may be getting out before it’s too late.
At the time of writing, TRX is priced at $0.067, down about 6.20% on CoinMarketCap.
Overall, throughout May, as the Main Net launch gets closer, TRX has slowly declined in price. It’s true that it had some spikes, but generally, these have been short-lived and have soon been corrected.
For the moment, Tron seems to be moving back down towards its monthly low of $0.061, consider that at the end of April, TRON hit $0.10, all of a sudden, this apparent decline looks quite serious.
The Main Net promises increased trading volumes and market cap
Increased volumes and a higher market cap that are expected from the Main Net should boost Tron into the top three currencies, according to the Tron Foundation.
— Justin Sun (@justinsuntron) May 16, 2018
There are also more and more rumors about a potential Coinbase listing which would definitely help the crypto.
But regardless of all these things, TRX seems to be struggling at a low value for now. As expected, this doesn’t worry Justin Sun who is being as optimistic as always.