Credit: Shutterstock photoTronix (TRX) has rallied its way to eighth leading crypto player by market cap. TRX’s objective: leverage a powerhouse one-two punch of blockchain and peer-to-peer (p2p) network technology.
Today, the top ten crypto coin stands as a long shot to upset Bitcoin (BTC). Yet, cryptocurrency is known for crazy pendulum swings- the kind that could allow an outside contender like Tronix to steal the throne.
Using the screener platform at Coinwatch.com, we sourced the latest crypto market insights. Let’s dive right in.
First, we can see that media buzz circling Tronix is very high- and news sentiment shines very bullish. Tronix’s current price lists at $0.027 with a $2.71 billion market cap. Volume transaction over the past 24 hours has hit $1.01 million. Worthy of note, crypto space momentum has seen Tronix vault almost 27% over the last seven days.
For context, the TRON foundation burst onto the scene with an ICO in September 2017- spearheaded by founder and CEO Justin Sun. Tronix rested at $0.00212 back in November 1 of 2017. By December 22, the coin had jumped 2170% to $0.04813. Flash forward to an epic 13,980% skyrocket to $0.2985 on January 4- Tronix’s record peak to-date.
It’d be easy to see a coin that is not even $1 today and dismiss it. However, savvy investment plays are not made by only looking at the ‘today’ factor of the puzzle. For a coin that once scaled in multi-thousand percent leaps, Tronix exhibits potential to rip higher.
Just look at the TRX team trail-blazing behind-the-scenes. Justin Sun learned from one of the great innovators of our time: Alibaba (BABA) founder Jack Ma. Not only has Sun landed himself on Forbes China’s prestigious ’30 under 30’ list (an impressive three times), he received a personal invite to study at Hupan University. Billionaire Ma founded the university, and it’s quite selective: under 40 students were admitted in the course Sun took.
Ma’s hope for a university is an innovator-churning machine; one that could transform the world: “My vision for this University is very simple: 20, or perhaps 30 years later, I hope at least 200 out of the top 500 businesses leaders in China would have studied in Hupan. By learning from each other’s failures, we’d help the next generation of Chinese entrepreneurs not to grow bigger, but to thrive for a longer, happier, and healthier business.”
The idea would be for a leader just like Tronix’s Sun to “grow, bound, and thrive in the global economy.” What was Sun’s graduation thesis? A theory titled “the Birth of a Decentralized Internet.” With visionary Ma as a mentor, Sun’s decentralized Tron project has earned its sea legs. This millennial graduate is a bold innovator to watch- as is his opportunity with Tron.
Keep in mind, the decentralized entertainment content sharing platform functions by cutting any go-betweens; connecting content producers to content users. It’s a smoother global digital content entertainment network ecosystem. Content producers can now get funds from consumers in direct fashion- and swiftly at that. The outcome ultimately dials down consumer costs and boosts collection via direct receipts for the content producer. No more middle-men.
As far as the crypto race goes, Tron has made a name for itself already in its early innings. It’s the first-ever smart contract blockchain protocol to hook more than 10 million wallet holders around the world.
Sun is clearly confident on Tronix’s prospects- so much so that he’s stirred up some rivalry along the way. Time and time again, Sun has come out swinging against Ethereum (ETH) – the second biggest cryptocurrency – on Twitter.
On July 27, Sun tweeted to supporters he calls ‘Tronics:’ “TRON is 80 times faster than Ethereum. With 14 years of experience, @BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world! #TRONBT $TRX.”
In fact, even Reddit has a thread as to why Tronix is superior to Ethereum.
Sun took a jab: “Why #TRON is better than #ETH: 1. 10000TPS vs. 25TPS 2. zero fee vs. high fee 3. Consistent Coinburn vs. no coinburn 4. Java vs. Solidity 5. Strong extensibility vs. no ex. 6. 1 billion USD developers rewards vs. no plan 7. 100 million users vs. small number.”
ETH’s Vitalik Buterin went on to cheekily retort: “8. Better white paper writing capability (Ctrl+C + Ctrl+V much higher efficiency than keyboard typing new content).”
The competitive fire makes sense. After all, Tronix tokens once existed as ERC20 smart contracts that ran on the ETH network.
In the age of digital revolution, Tronix seeks to make digital entertainment platforms better across the globe; from live shows to mobile games to social networks. This blockchain angles to thrive in offering payment, storage, and development functions to its users; even credit sharing. It’s a new world of digital entertainment meets shared economy.
The most compelling part: content producers and everyday users get to interact without paying an arm and a leg. Compared to a distribution platform like Google Play or Apple Store, this could help Tronix gain rapid-fire popularity among younger investors.
With a worldwide digital entertainment products market valued at roughly $1 trillion, there’s room for Sun’s Tronix to rise to the top just yet.
Considering adding TRX to your investment portfolio? The crypto market is always on the move. We used the screener platform at Coinwatch.com to stay up to date on Tronix’s real-time data.
This article was written by Julie Lamb.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
