Although some of the bearish market momentum has begun to relent once again, it seems unlikely most markets will note any sort of positive momentum throughout today. The Tron price, while still under pressure, may very well see a rebound fairly soon. Its losses in BTC value are nearly gone, which should allow the USD value to recover a bit of lost ground as well.
Tron Price Tries to Break Even
It is always interesting to see how individual cryptocurrency projects evolve as more time progresses. The fewer projects rely on Bitcoin’s price momentum first and foremost, the healthier the ecosystem will become. As far as Tron is concerned, it remains to be seen what role Bitcoin’s price momentum plays exactly. More often than not, it would appear as if Tron couldn’t care less about what Bitcoin offers.
This is also evident when looking at the Tron price momentum over the past 24 hours. A net loss of 0.9% in USD value is not positive, but it is not necessarily insurmountable either. There is also the 0.5% loss over Bitcoin, which is slightly more promising. More specifically, if these losses can be nullified, there is a chance the USD value will bounce back from its current level of $0.023237. Reaching 600 Satoshi may prove to be a bigger challenge, though.
It has to be said, the developments taking place in the Tron ecosystem are looking promising. Over 12 million smart contract triggers have been executed over the past two weeks. While not necessarily a determining factor, it is something to keep an eye on moving forward. Combined with the overall excitement regarding Tron in general, it seems to indicate this ecosystem continues to grow by leaps and bounds.
Speaking of innovation and the Tron ecosystem, the number of dApps continues to increase. Alongside it, the TRX volume across these distributed applications is also on the rise. By actively surpassing $100m in 24-hour volume, things are getting pretty interesting. This growth shows there is a lot of potential waiting to be unlocked, even though dApps are always a bit of a niche trend among cryptocurrency users first and foremost.
Even when things are going well in the Tron ecosystem, it seems there will be those who oppose the project at any possible turn. Even the recently shared Tron-themed mug on social media draws comments such as “Tron is a shitcoin”. There is a good reason why no one can have nice things in the cryptocurrency world, and this sums up that reason quite perfectly.
All things considered, there is a lot to be excited about when it comes to Tron. Even though the current price might not necessarily reflect this positive momentum, there is nothing to be overly concerned about at this time. If the TRX/BTC losses can be overturned, there is a good chance things will improve pretty quickly. This bearish trend during the weekend is not an indicator of what may come next week either.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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