Why Investors Should Pay Attention to TRON (TRX)
TRON burst onto the cryptocurrency scene with an ICO in August 2017, and started trading in late September 2017.
We’re hardly into the new year, and TRON is starting to make some serious waves in the market.
While I don’t like to make price gains a focal point of my articles, it’s worth noting that TRON jumped from $0.033 to $0.12 in the past few days.
TRON focuses on building a platform that allows digital content creators to cut out third-party intermediaries like the Apple Store and Google Play. This will ultimately help content creators get paid directly from their users.
In the absence of a crystal ball, we can look at some of the exciting components of the TRON project.
Justin Sun and Team
The CEO and Founder of TRON is Justin Sun, who is often referred to as “the next Jack Ma”, the founder of Chinese eCommerce empire Alibaba. His accolades are nothing short of impressive at the age of 27. The University of Pennsylvania graduate is also:
- 2015 Forbes China 30 under 30
- 2017 Forbes Asia 30 under 30
- founder of Peiwo APP (China’s Snapchat)
- an attendee of Hupan University founded by Jack Ma
- a former chief representative of Ripple China.
The TRON team also counts Lucien Chen, a big data expert from Tencent and Alibaba. Chen recently announced he’s bringing a chunk of the Alibaba tech team including some top developers to work at TRON. What makes this interesting is that this most likely isn’t a poaching situation. Why would Alibaba allow its talent to flood to a promising blockchain project? This could be the underworkings of a future integration with the Alibaba platform in the future, which is pure rumor mill but would be a huge win for TRON (and for investors).
One of TRON’s early investors is Feng Li, who has a fairly stacked resume in the cryptocurrency industry. He provided the seed capital for Coinbase, which is absolutely raking in revenue with the flood of new users. Li also serves on Ripple’s board of directors, which has a market cap of about $132 billion at the time of writing.
One of their early investors is Feng Li, who also provided the seed capital for Coinbase… Li also serves on Ripple’s board of directors.
A Long-Term View
The TRON project sets its gaze for the long-term, with a series of phases starting with Exodus in 2017 leading to Eternity in 2023.
The short-term spike in price might seem like a sudden erratic bull run, but the project seems to have more than enough steam to carry it for the next few years regardless of token price.
I highly recommend learning more about TRON before making investments. I believe the above criteria and the fact that it’s currently the only token under $1.00 in the top 20 market cap coins makes it an attractive target for many investors.
As always, do your own research, gain/lose money on your own terms.
Featured image courtesy of Shutterstock.