A breath of life was injected into the crypto space as Q2 began, with most assets posting positive double digits, however, last week and Tuesday saw the crypto market suffer a major setback.
Price and Performance of TRON (TRX)
TRON has to do much to recover from a major lapse which began last week. The last two days were hopeful for TRX after recording gains of over 10%. However, the asset trimmed those gains recently. The digital asset which was trading at around $0.09 USD, as at a week ago is currently trading at $0.06.
As a result of the lapse, TRON had lost over $1 billion of its market cap, but remains in the top 10 largest cryptocurrency by market cap with $4.3 billion (USD). Trading volume over the last 24 hours is $353 million (USD).
TRON may be suffering a setback in the market, however, exciting times are around the corner for TRON, with a series of events and launches scheduled from May 25 up until 27th of June. Q2 would certainly be a very busy one for TRON, as the digital asset is ready to enter into a new phase.
In 16 days, TRON would be ready for the much anticipated MainNet launch. TRON would also be launching the TRON Virtual Machine 1.0 (TronVM) on 25th of May, and the super representative elections which would see TRON become jointly governed by TRON Foundation and the TRON Community would be conducted.
TRON Gathers more Support Ahead of MainNet
While TRON alongside Ripple became the first digital assets to be listed on Zebpay, the leading cryptocurrency exchange platform in India for Crypto – Crypto exchange, the platform would also be supporting TRON’s blockchain upgrade and Token swap.
Adding to the increasing list of exchange platforms that have publicly announced their support for TRON’s block chain upgrade and Token swap, another major Korean exchange, Coinnest has announced full support for the upgrade in 16 days, others include Binance, Coinrail, Bittrex, Bitfinex, Gate.io, and Bibox.
TRON Drops Surprise Ahead of MainNet Launch
It is no longer news that TRON would be leaving its current Ethereum blockchain to its independent MainNet at the end of this month. As the TRON community await the MainNet Launch, CEO of TRON, Justin Sun has announced another major project to prepare the asset for her coming MainNet Launch.
On May 25, TRON would be launching the TRON Virtual Machine, six days before TRON shifts to the MainNet. The new TRON Virtual Machine will allow all the dApps built on the old Ethereum based network to function fully on the MainNet upon release.
TRON has certainly laid down a planned schedule which could guarantee success. As the MainNet approaches a lot of excitement is building, and according to TokenInsight is ranked first in terms of code submissions in the last seven days, last thirty days, and in the last sixty days.
The Future of TRON
The trends of TRON (TRX) in the market may have not been remarkable over the last couple of months. However, the asset has laid down some carefully planned projects which has sparked a new wave of optimism about the digital asset. If all goes as planned, the digital asset may just be on its way to the moon.