This is a snapshot from Binance on Tron's 1hr chart, snapped at 15:48 EST April 5, 2018
Over the past couple days, Tron has experienced wildly volatile swings in volume and price. Part of this is due to the (currently) manic nature of Bitcoin, which acts as a global reserve currency in cryptoland.
However, now that Tron is operating on its own blockchain (instead of Ethereum's ERC20 platform) and expanding nodes across the globe, I hypothesize that the price will increase according to its application and global usage. Many, (including myself), predicted a spike in price this past Saturday, March 31st, when the mainnet was launch.
I wrote about my hypothesis on how Tron's valuation is entering the first stage of exponential growth according to the Crypto J-Curve which I wrote about in detail here
Currently, about $2.6 billion of Tron is being traded worldwide, marking it as the 3rd most traded coin.
There are 2 main reasons for the sudden spike in volume that began around midnight EST.
- Tron and the Korean Won trading pair is officially listed on Bitthumb exchange (TRX/KRW)
This is huge. Think about this as when Binance introduced the USDT/NEO trading pair. NEO offers a good example for the trajectory of "ethereum-like" decentralized platforms that originate in China or Singapore and are accessed, developed, and traded upon globally.
Remember that Tron is a decentralized platform on which apps are developed and distributed pertaining to the $1 trillion entertainment industry, allowing content creators to fully own the data of who consumes their product and trade virtually for free.
Justin Sun tweeted this around 05:00 EST, when the trading pair was released on the Korean exchange
- More and more people are staking Tron by running masternodes
- When you stake a cryptocurrency, you're essentially creating trust on the Tron network by using your computing power to verify transactions. In return, you're rewarded X amount of TRX. VEN, NEO, and other cryptocurrencies do this, and those who stake it will tell you it's an easy way to make passive income
- In the tweet below, we can assume that the already immediate expansion of nodes signifies an exponential expansion in global usage & recognition.
- If the value of a network is equal to the number of its users, squared (Metcalfe's Law) then we can assume the below snapshot of Sun's tweet is indicative of a consensus-based belief that the value of the Tron network IS indeed increasing because the # of users is.
Remember that a lot of market manipulation happens. If you're reading this, you're probably reading it from the West. Know that the East DOMINATES in the amount of the market they hold
Here's a photo of a whale manipulation and dumping on the 1minute chart. Trading is not for the faint of heart.
Snapped from Binance at 16:29 EST on the 1 min chart
These are just a few ideas for now to make sense of everything that's going on in the market.
The take away message is HODL strong and remember that Tron is still in its infancy, yet performing phenomenally when you take into account how long its been on the market and the massive amount of volume it's accrued over such a short period of time.
¡Atención!
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