TRON (TRX) announced recently that it will be pushing forward the date on which it’s planning on launching its own Test Net. To date, TRX is hosted on Ethereum’s platform, existing within the Ethereum ecosystem and working on top of its blockchain network. This recent development means that TRX will begin to operate within its own network and will expand the possibilities of additional partnerships.
The TRON Test Net will be launched on March 31st and from that point on, TRX will exist and work on its own platform. The fact that this currency is getting its own network says a lot about TRX’s progress as this novelty would leave lots of space for further progress. It is also needless to say that the launching of the Test Net will surely draw more investors into the story behind this currency.
One would think that the fact that TRX is getting its own platform while moving on from being an Ethereum-based token would affect TRON’s price positively, but it seems that the excitement about the Test Net being released has settled down.
Even despite recent listings on a number of new exchanges, TRX price has been relatively held in check. I believe this is largely a result of broad market forces placing downward pressure on the cryptocurrency space as global regulators jockey for the right to rule cryptocurrency.
In the US, the Securities Exchange Commission has warned all ICO’s and the exchanges that host them once listed, that they may be in glaring violation of securities laws, depressing prices as the market looks for clarity. This has placed markets into a wait-and-see holding pattern of late.
The addition of TRX on Huobi Pro makes it the seventh exchange site to add Tron’s native currency onto a trading platform. This is coming just days after TRX was listed on India’s biggest exchange site Koinex. Getting onto Huobi Pro, one of the leading cryptocurrency exchanges adds to the other five that include Bittrex, Cex.io, Binance, and Upbit. All these are in the top 10 exchanges in the world, something that should make Tron and TRX available for the vast majority of new investors seeking to jump onto the crypto-riches bandwagon.
The coin has so far struck partnerships with a series of major companies, including Chinese video hardware and software provider Baofeng, oBike, the largest bike-sharing company in Singapore, which will release “oCoins” on the Tron platform, with riders accumulating coins the more they ride. It also boasts investors such as Wei Dai, and a team of developers from Alibaba and Microsoft.
It appears that TRX is near a bottom. I expect TRON to lead the ALT recovery if BTC can reestablish a bullish pattern, regulatory framework is established, and the March 31 Test Net launch is successful. Surely, that’s a tricky parlay, however them broad reach of TRON, the strength of the tech team, and the emergence of working tech, will likely provide the momentum necessary to push TRON back near ATH’s by mid-year.
