When it comes to crypto currencies investment, you do not just have to buy because its listed on the market cap or maybe someone bought it. A lot bought coins and altcoins after they thought that they will make them rich but it never happened. Someone might even buy and the coin will forever remain stagnant and without volatility.
What determines the Explosion of an Altcoin?
There are certain factors which plays a role in the future of an altcoin. Lets take a look at only 2 which i value most when analyzing coins to invest in.
- Demand and Supply
- Project Behind
Demand and supply - plays a significant role when it come to the future of an altcoin. Imagine a product is launched and there is too much supply, do you think the price will explode?
If everyone has a whole chuck of it then the demand will be low and the price will be low aswel but if it is scarce then there will be higher demand and this will drive the price. On Tron there is too much supply and i am not a fan of huge supply but this is a bit different because
Project Behind - Tron is expanding, It purchased BitTorrent in 2018. Tron is also into Dapps and smart contracts which gives it an upper-hand and this will over ride the issue of higher supply. It has a reason to rise because it has a backup of projects to drive it to the moon.
Tron and its core projects
Tron is a crypto currency which was launched in 2017 and it has a maximum supply of 100,850,743,812 and circulating supply of 71.66B TRX.Currently Tron is trading at $0.0767 per coin. It purchased BitTorrent in 2018 which was a huge step it took.
BitTorrent is a decentralized TRC-10 peer to peer file sharing protocol which is owned by Tron. It was created in 2001 and got listed in 2019 on the coin market cap. It has a supply of 990,000,000,000 and 659.95B BTT are in circulation. 1 BTT is currently trading at $0.003987.
Conclusion
There are higher chances that Tron will be rising as it is now into smart contract, acquisation of one of the largest file sharing protocol and also into Dapps. It has a reason to be successful. So as BitTorrent which is on of the leading file sharing protocols it has higher chances of making it to the most leading and lucrative.
