Speculation Surrounds TRON’s Ability to Recover New Tokens
TRON, a platform aimed at sharing entertainment content, is finalising plans to launch, but the market’s attention is focused on the currency’s recovery.
TRX, the platform’s official currency, has consistently held a low value averaging approximately $0.035 dollars for a significant period of time, drawing back public interest in the currency.
This shift in focus has also been a result of a 31 percent increase in USDT trading. As it stands, TRX is considered to be a mature currency at its current stage used to participate in high-risk trading gains. For another quarter, TRX will remain as is until products are officially delivered.
In addition, the network’s elections are slowly progressing, in which servers are being displaced by three Super Representatives. One theory is that voting is delayed due to the fact that the majority of tokens have already been transacted to digital currency exchanges.
Although TRON’s mainnet was launched on the 25th of June, the network stated it was not scheduled to launched until May. Reports suggest that since the 25th of June, the platform can now transfer the latest TRX token. According to tronscan.org, activity on the network remains low at only 31 transactions per hour.
This low activity is not reflected in its popularity on social media, with TRX reported to be seen in the highest number of searches despite not being among the highest traded digital currency.
With the launch of its mainnet, TRON aims to distribute apps coinciding with a turbulent time for EOS. In this sense, TRON provides a different model suitable for running dApps. The model has yet to be proven successful.
Upon launching its mainnet, the TRX token supply will amount to 99B even after TRON’s Independence Day billion burn celebration. In addition, 33B assets owned by the foundation are to be on lockdown until the start of 2020.
As is with numerous cryptocurrencies, TRX yet again seeks to make the right moves since experiencing a steep slip from once held peak prices. There are those who believe the token will mimic Ripple’s XRP experience. The main difference between the two is that TRX possesses a larger supply with more tokens circulating rather than in a state of lockdown.