Long anticipated and hyped to exhaustion, Tron mainnet launched finally launched as planned and is currently in a testing phase until June 24th.
However, price didn’t move, it even went down a bit. Volume is dismal, breaking low records. How is that possible after such a big event for TRX?
“Sell the news” mantra is strong in crypto markets.
Mainnet happened, news is delivered, people dumped, whales dumped well before. The market is in a gradual decline and things are not looking up. The bear market is in full force, and any standard product test version launch won’t be enough power to turn things around for this particular digital currency (it’s currently trading flat). The crypto market doesn’t work like that, as much as we’d love it to.
However, a modest dip in prices allows for consolidation, and this dip is also in line with the predictions of many day-traders – so the prediction that this recent price decline will ultimately cause a rally upwards is plausible.
A leg lower could distress the TRX community and give rise to bears and we could see a bigger sell off as TRX holders are already somewhat disappointed as how things went with the mainnet deployment and price development.
Read: Best Multisignature Cryptocurrency Wallets for 2018
When will we see the price rally for Tron?
You need to wait for an overall market turnaround or some massive-scale partnership announcement (which is problably not going to happen).
Now TRX needs to prove itself after it finally breaks away from ERC20. Time will tell.. Building the community and vision first and then just copying the tech from another project might be a great way to scale – but there are a lot of question marks remaining, and also a lot of things more important than TPS that aren’t being talked about.
The mainnet launch is the foundation for improved infrastructure for DApps and attracting new developers to build applications on the blockchain, according to “A Letter to the Community” posted in a blog update. It sets the path for third-party applications to run independent of the Ethereum chain. Clearly, it is way too early to use the price to gauge the success of the mainnet launch.
